The popular cryptocurrency analyst Coin Bureau is explaining why a privacy-focused cryptocurrency has “so much potential” that it can make astronomical gains of around 300% by the end of the year. In a new video, the influencer who calls “Guy” tells his 600,000 subscribers that he sees Monero (XMR) leading in the privacy coin space. The trader says that in a world increasingly under surveillance, privacy coins like Monero could become much more attractive.
"Privacy. It is one of those things you don't think about until you really need it, and by this stage it will probably be too late. It's also an untapped crypto industry that I think has insane potential. It's only a matter of time before the rest of the market wakes up to the risks posed by completely transparent blockchains. Leading this onslaught towards this financial privacy is Monero. ”
Although the Coin Bureau is optimistic about coins with transparent blockchains like Bitcoin (BTC) or Ethereum (ETH), he emphasizes that they are not entirely private.
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“Public blockchains were a major innovation, as they allowed people to check and trust them. However, they do have an Achilles' heel when it comes to privacy. Anyone can open a blockchain explorer and observe exactly what's going on for all addresses, where transactions flow and how much those addresses contain… I know what you're thinking: 'Dude, I don't use the dark web, I don't have nothing to hide, why should I care? 'Well, why don't you walk naked down the street? Of course, you have nothing to hide, but your business is your business. Furthermore, in countries with repressive regimes, a mere donation to a cause they don't like can put you on a list. ”
Monero, which is trading at $ 245 under Coingolive, is currently undervalued from a fundamental point of view, says Guy. He expects to break his historic $ 284 record on the way to a massive 316% increase before 2022 ends.
“There is a lot to expect in the Monero ecosystem, such as atomic exchanges, increasing adoption and greater decentralization… My reasoned opinion is that we could easily see a return to Monero's historic record in the next three months. So, if the bullish cryptocurrency market continues to advance, it is perfectly possible that we will see about $ 1,000 by the end of this year. ”
Recently, the first atomic swap between Monero and Bitcoin was carried out, which could also mean a major advance for the privacy of the currencies themselves in the BTC network. See also: With 8 bitcoins, owner of DeepDotWeb pleads guilty to money laundering