Monero Forecast: Live Monero Price 2020

XMR/USD Live Price

Currently, the XMR/USD Live Price chart suggests that Monero (XMR) is trading at $90.93 with XMR price 0.53% up today. The market cap of Monero is USD 1,610,132,575 with 17,707,482 XMR circulating currently.

The United States Internal Revenue Service has offered a prize of up to $6,25,000 to anyone who can trace privacy coins like Monero as well as BTC lightning network. The IRS is accepting submissions of working prototypes until Sept 16 and if the prototype gets accepted then the applicants will receive an initial grant which will allow them to develop it into a working concept, post which the pilot testing and government approvals will take place. And if the concept gets approved the applicant will further receive a grant.

Monero is going to undergo a major network update on October 17th, the update will reduce the transaction size by 25% and will make the network more efficient by improving the verification performance by 10%. The update will also replace MLSAG with CLSAG, a new ring signature update that will augment the security of the network. The first transaction over CLSAG was recently performed on the testnet and Monero is excited to see the full-scale implementation of CLSAG signatures.

Tari Labs, the developers of privacy coin Monero is going to publish a guide in the form whitepaper to help exchanges with the listing of Monero.

Monero is a privacy coin that restricts anyone from monitoring the transactions which seems to be a major concern for exchanges and the reason for it being not listed on many of them. However, with this whitepaper, they aim to resolve this problem as it will act as a guide for these exchanges and assist them with the tools on how they can list the coin while complying with the regulations. If this whitepaper turns out to be successful then we may see greater adoption of privacy coins like Monero.

What is Monero (XMR)?

Monero is a special kind of digital cryptocurrency system, which uses cryptography to ensure that all the transactions remain untraceable. Monero was created in 2012 and its a fork of the Bytecoin blockchain, which was initially named Bitmonero.

The best part about Monero is that it is fungible and you have complete control over your currency and transactions. Monero has no pre-set size limit like Bitcoin has, that means malicious miners can clog up the system with disproportionately huge blocks.

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One of the confusing thing about Monero is that it has multiple keys but the other thing overpowers its cons is its transaction unlinkability.

Market Prediction For Monero Price 2020

With the market being volatile, predicting the cryptocurrency price is really one of the most difficult tasks. (Monero price speculation)

Let’s consider the Monero (XMR) price prediction from major distinct sources, which will give us a fairer idea:

#1 LongForecast

It is a forecasting agency which is specialized to predict the financial market, which has even predicted more than 100 cryptocurrencies. LongForecast predicts that Monero might be in the range of $554-$638 in April 2020 and go up to $810- $945 by December 2020.

#2 Trading Beasts

Trading beasts display that Monero can reach around $150 within a year which means it can roughly reach about $200 by 2020.

#3 Crypto Ground

Crypto ground is a cryptocurrency prediction website which states that Monero might reach $118.02 by the end of 2020. In 5 years, XMR has a good possibility that it might reach $496.82, might even reach the $500 mark if the market is calm enough.

Our Verdict On Monero Price Prediction

Monero is going to be one of the top 3 performing cryptocurrencies in 2020 according to oracletimes and the performance might be thoroughly maintained. Because of the privacy policy, Monero is gaining worldwide acceptance. Towards the end of 2020, Ledger Nano wallet started supporting Monero, which made it even more wanted by most of the crypto traders across the world. Now, Monero is working on updating its technology like GUI with subaddresses, multi-signature, etc.

Monero Price Predictions 2020

2020 might see Monero hovering around the $100 and $200 mark. It can start on a good note where it might jump to about $200 in February and March, and straight to the $250 mark.

This year might mark as the benchmark year as Monero has never reached $250 mark before. Monero price 2020 might surge drastically as a result of the adoption rate.

Monero Price Prediction 2025

Monero is estimated to reach around 1397 USD by 2025. 2021 and 2022 might be seen as the rising year in the world of cryptos, where they might experience a rise like never before. It is expected that in 2023 it might make it to the $900 mark.

While other cryptocurrencies in circulation are actually pseudonymous, Monero is an anonymous cryptocurrency, which is why it has a gained a lot of growth and traction in the recent months. With many users looking for anonymous cryptocurrencies in the near future to perform their transactions, industry experts recommend investors to buy Monero at the current price levels in order to get better returns in the future. You can convert XMR to BTC from CoinSwitch at best rates.

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