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What will happen to Monero in 2020

12/05/2018
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If you read what the Monero prediction cryptocurrency promises for the near future, then you can finally get confused in numbers. So, Satis Group speaks of an increase of 38 000%. By the way, after the publication of this figure in August 2018, the real exchange rate soared by 14.1%. However, there are those who do not promise anything good to the asset. So you have to find the truth yourself.

What is Monero

The words that Monero is a cryptocurrency based on the CryptoNote protocol will give little to the average user. He will get a little more information after learning about the increased anonymity of this asset.

Indeed, cryptocurrency developers have relied on secrecy. When transferring funds, the recipient does not even know exactly who transferred this amount to him. As a result, it is simply impossible to trace the chain between the seller and the buyer. Therefore, Monero price prediction is based on only one indicator - the interest of users in anonymous transactions.

By virtue of this feature, the asset is of small interest to large investors. Of course, some of them might and would like to hide the traces of their payments. However, for them, this means breaking the law, with all the ensuing consequences. Since its introduction in 2014, the cryptocurrency has been heavily criticized. And not without reason. Over the cover of global anonymity, there is the possibility of conducting dubious operations in the market.

Anonymity problems

What made this asset so popular is its main enemy. Now up to 25% of cryptocurrency is criminalized. In the search engine, requests for Monero (XMR) CPU Miner - Trojan Virus are in the top when trying to get additional information about Monero.

If earlier hackers tried to hack computers to access personal information, now they are secretly using computational powers for mining. According to some experts, in some Latin American countries, up to 50% of devices are infected with this virus. This causes the following damage to the owners:

  • electricity costs increase;
  • workflow is inhibited;
  • the equipment does not give out full capacity and its depreciation increases.

The Monero team claims to be struggling with this problem. But so far its solutions have not been found. Antiviruses can clean the computer or phone after checking, but hackers are constantly launching new versions of malware.

What will happen to Monero rate

About the Monero price prediction of 2020 responds rather vaguely. It failed to become a financial asset in the global sense of the word. In addition, quotes are very dependent on the situation on the world stock exchanges.

And now it does not develop very well. The increase in the US Fed rate led to a growing demand for dollars, investors lost interest in risky investments. Therefore, the cost of all cryptocurrencies is in a “bearish” trend. Hope there is only on the fact that cryptocurrency interest institutional players - hedge and pension funds.

According to calculations, if they invest only 1% of their capital in digital coins, the rate will exceed the 2017 highs.

In this regard, for Monero coin predictions are not so bright. Its algorithm prevents its use as a reliable financial asset. Of course, against the general background of demand, it will start moving upwards. But the mechanisms of this growth will be weaker than in the previous cycle.

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