One of the oldest cryptocurrency Monero (XMR) has always been the favorite because of its privacy and decentralized nature. It is completely untraceable and therefore is the most respected cryptocurrency. And it has gained even more attention in recent times since Bitcoin is not entirely private and Ethereum has steered away from its original vision. For those who want to maintain anonymity, Monero is the best option.
Considered as the safest bet, currently, Monero trades at $222, the bottom of the channel. But investors and experts believe that it will make a comeback and will reach $1000 before year end.
Monero has taken a hit because of a fake Monero scam and competition from similar coin called Verge (XVG). The acute uphill graph of Verge has driven Monero down, but it will not remain there for a long time. Big companies like Circle Invest, Td Ameritrade and Coinbase have started listing currencies like Monero and are trying to get more people to invest in it. Once that happens, the prices will shoot up.
Also, the demand for anonymous transactions is increasing day-by-day. There are always people who want to use a currency that has strict privacy policies. So if all the cryptocurrencies were to disappear tomorrow, the demand for coins like Monero and Verge will still be there.
Sometime back it did receive a lot of criticism for being the medium of online purchases on the dark web, but that did not change a lot for the coin. Monero has still continued to do well. And the future is looking favorable too. The coin is showing bullish sign which suggests that investing can be highly profitable right now and it can achieve new heights by October 2018. If you have purchased the coins in 2017, it will be in your best interest to either sell it in later 2018 or hold on to it for a few years. It will yield good profits.