Looks like we're still locked into a downward channel after all. This of course totally invalidates what I said yesterday. Wonder how far this is going to go?
It won't stop me from mining the crap out of it. I'm currently contributing a little over 100 KH/s to the network. I see huge potential in XMR and it seems to have a dedicated group of developers behind it.
It was obviously going to correct after such an aggressive rally, but this seems a bit much to me. Can't blame this slide on rising BTC value either IMO.
Disclosure: I'm cost-averaging into XMR on a daily basis, amassing a sizable long position, and planning to hold for the long haul.
I have been predicting a Monero correction down to .01BTC for a while. With that being said there is some crazy Monero FUD floating around today that is not helping the price.
Not that old news about the 3rd party wallet vulnerability, is it? That keeps getting passed around like it's new, and misrepresented too. Intentional, maybe? I haven't seen any negative news today, but I haven't been looking for it either. Would you mind passing a link to such FUD my way? Thanks.
I'd say you were on point with a 0.01BTC target. I still think the fundamentals behind XMR are very strong for the long-term, provided it doesn't really step on it's crank somehow. All we need is a couple of high-profile cases of deep web exchanges and/or their patrons being tracked down and prosecuted thanks to BTC blockchain tracking services for BTC to cough up it's entire share of discreet transactions to XMR.