MONERO SKYROCKETS | Here’s what you need to know

what’s going on everyone my name is Nicolas Merton here at day two – today is August 26 of 2017 so if you don’t know if you watch my channel you probably understand by now that I try to keep up to date with cryptocurrency news and I know that a lot of you out there have been recently raving over a recent change in crypto currencies you guys have been seeing the headlines and looking at the price section there’s been a recent privacy coin that has skyrocketed over the past few days and it is no other than the long founded Manero so you know what’s been leading to this a lot of you have been asking me the same question of what’s causing this big price surge and the action and then also I think there’s also a few things for those of you who do know the main reason a few things you should keep in mind as to why money is moving up and along with that once we do a fundamental analysis I’d like to do a little bit TechEd a little bit of technical analysis and really talk about this as a trade and quite frankly I’m not looking to buy at these levels just being honest but I’ll get into a little more detail so definitely me a chance to explain myself in this sense for those you who are optimistic on money so realizing all of that folks we can see that Manero is absolutely dominating the market right now with a market cap of 2 billion it has become one of the largest privacy centralized coins in all of crypto currencies and the volume is there to back it up we have over 10 percent of market cap volume in the past 24 hours and that is saying something Manero is that fresh new highs and the volume is there to back it up over the past 24 hours so 248 million dollars is no laughing matter that’s serious volume for manera especially now we can see this the circulating supply is something that I really like it seems like the coin is not easily created there’s not a large supply when era is very limited and sitting around almost 15 million you know coins in my narrow that’s not that bad it’s a very limited supply coin so I like that in that sense but the real thing I want to emphasize here on phone market cap is the absolute jump in price action just a few days ago less than a week ago we were sitting under around 800 million dollars in valuation that was pretty steady as is from on arrow we are now sitting at more than double of its valuation and this was a well developed cryptocurrency you know this wasn’t you know some kind of a small cap that just got doubled you know that’s easy for a lot of crypto currencies to say that they can do in this case mine era is a very well developed coin and it researched to new highs after recent news that came out but there’s a few things like I said that I want to mention that go along with it that I think can really be seeing why we can be seeing such a big jump in my narrow and then I’d like to talk about whether or not this can really sustain for the long term so let’s go ahead and look at a little bit of a fundamental analysis and talk about what’s happening with mine era on a fundamental sense that’s leading to this price action so it’s an awesome article on crypto coin news.com and this is a perfect article talking about the main reason as to why this is happening and you can see the headline right there bit hum which is a South Korean exchange is listing Montero it’s a very simple point we’ve been talking about it a lot on this channel too I think we’ve been a little bit ahead of the game than most people and covering this topic on this channel and our community’s been very active about talking about the topic we talked about in my market recap video we talked about it and the created money flowing into crypto currencies video after we spotted one or two coins happen where it was happening we started getting into like coin we made money on like one we had our money that there in classic I’m up on a theorem classic so far there’s a lot of very low so there’s a limited amount of players on bit home which is the leading South Korean exchange and the amass amount of volume and money that’s getting poured into the crypto currencies on there is powerful it’s literally become the one thing I think the catalyst in my opinion that has shown that there’s a lot of optimism and a lot of the previous leaders in this market a lot of the kind of ones that have been lagging like ripple like coin aetherium classic a lot of these ones that haven’t been seeing much love as Bitcoin continues to rally and we’ve seen it pretty much with every single coin it’s been repeated and because of that on bit hub when they announced that they were gonna be listing it you could see this instant price action right here there was an instant jump in the valuation from around $50 to almost a hundred within a matter of about an hour to that’s crazy it shows you that so many people are optimistic to see the skin on South Korean exchanges because they know most likely that South Korean exchanges are going to prop up the price now is that going to happen at these types of price levels not the budget it’s higher than this right now I’m gonna talk about that a little bit so this is the main reason though in a fundamental sense why manera sings such new highs and such a resurgence in price action and optimism the other things that I think a lot of people are talking about there’s two recent headlines that really kind of make a good point in the sense of you know why my Nair is seeing this kind of price action the first one outside of the exchange being listed is the fact that in a Hong Kong there’s a company based out there called local Manero Cove and this is a recent community-based website that is a lot like local bitcoins and if you don’t know what local bitcoins is it’s a relatively neat website where you can make one-on-one transactions with people on your terms and your own rules without the need of an exchange so you could go from fiat to Bitcoin instantly by going well it’s not always instant sometimes you have to go through certain procedures but it’s all depending on what you and the other party want to agree on so it’s cool it gets rid of the middleman out of that equation it’s a fast way to get Bitcoin if the exchanges aren’t providing it to you or you know it’s not the price you want so definitely an interesting fact that in Hong Kong and area you know in China where there is a lot of concern about government control regards to cryptocurrency where you can do that without an exchange on a local basis that’s a very big thing not to mention my narrow is a privacy based coin so things are a lot more private and secure and anonymous in that sense so I think that that’s a big selling point in something really where Montero could be placed in the sense of taking the exchange out and making it direct individual to individual the second thing – on the topic of privacy there was recent news that back ever since 2015 the IRS has been tracking blockchain companies and their transactions but companies at work in watching technology and crypto currencies in general and they’re trying to track it on mask US residents they believe we’re not paying taxes or become related income so this is a big topic folks I’ve been talking about this for quite some time though of course I always agree you should report your tax earnings if you’re trading crypto currencies rather than just you know holding long term the thing is a lot of people in this space who have been here for a long time and even newcomers as well are starting to realize that cryptocurrencies got like you know big originally especially Bitcoin because of the privacy factor years ago it was hard to track those things governments are catching up and I can tell you the centralized institutions of this world do not like what Bitcoin and other cryptocurrencies are doing it’s shaking up entire trillion dollar industries whether it be finance whether it be cloud storage whether it be you know for example in things like Gollum that are changing you know how we how we you know go through CPU and GPU powering across the world building supercomputers putting all these interesting things on the blockchain and it’s never going to be centralized the winners are decentralized and they’re completely changing up entire industries the IRS in so many other federal institutions and very high up business institutions as well they don’t like it it’s changing up everything and I think that that this kind of question of privacy you know is this going to be a continued cornerstone in cryptocurrency I think it is I think whether or not our whether or not Manero is gonna be that winner privacy is coming back though the headlines and it’s gonna become bigger I’ve been talking about it for the past month on this channel we talked about it through verge we talked about the mysterium and the sense of decentralized VPNs privacy and you know fighting against censorship is going to be a big topic and XMR in this case Manero is going to probably be the leader of it temporarily now speaking about manera specifically I want to do a little bit of a technical analysis here we can see that Manero has had two days of absolute price action to the upside I’m sorry to say this isn’t a started in two weeks my apologies let me go here to the daily we can see here that ever since about about a week ago we started seeing the resurgence in this price the question is can it sustain itself and is this going to get more upside when it goes on to Korean exchanges it’s a very valid question and it’s good to be asking questions like that because quite frankly I’m gonna be honest with you I don’t know a lot even said oh you know Nicky told us not to buy it you know up here you know and I’d be up on my trade you do not buy a fresh highs okay and the Korean investors who you’re hoping or going to come in are not going to be buying at these highs and I’ll tell you why there’s a big difference between Ripple litecoin and all the others that went up in Montanaro they were previously listed on the exchange they were at fresh lows people and we talked about on my channel I’m not you know if you’re long on my NER for the long term don’t listen to me if you really just want to hold it for the long term it’s a long-term holding you’ve been in it for a while you write out the gains hopefully it keeps on going up that’s your business I’m not trying to show you away from that or talk any trash on there I’m not trying to do that I’m talking about it in the short term you can see right now it’s pulling back when we go here to the hourly South Korean investors are not going to be paying these prices they’re not going to be paying double the cost of buying Manero what it was just a few days ago actually they started not double triple basically of what Madero is at right now so that’s that’s the point I’m trying to instill here guys there’s so much hype going into manera because it’s getting listed on a South Korean exchange but institutional investors as we talked about my training and crypto trading cryptocurrencies for an immediate video they are not buying at fresh highs they buy at fresh lows and you could see down here this was a common support level this was the time you could start to look to buy one arrow if you were optimistic you do not buy it up here I mean unless like unless you’re willing to potentially be a massive bag holder and see it go down here wants things cool off I mean that’s the real thing I want to emphasize you all a lot of you only do like swing trading on it I’d recommend not to swing trade anything like this as much as it’s a marmot market momentum mover and you can make a lot of money off these it’s just too risky at these prices you can see the hourly does not look good here it looks like it topped over at 3,500,000 Satoshi’s the price is $140 per coin I mean folks it’s not something I’m buying I’m just gonna be fair with you if you want my opinion I try to look out for you all in that sense you know I’m like some new financial advisor so you’ve got to go out and do your own research if you really think minor is a game changer or if you just want a swing trade it it’s your business you have to make that decision but for me personally I’m not buying at these levels and the same here I wasn’t buying here and then definite wasn’t buying here as well and you can always play captain hindsight you could say Nick off you could have bought it down here but quite frankly my wrister war profile didn’t feel right on this one and I didn’t execute on it and quite frankly I don’t feel any more safe buying up here that I did down here I feel much less safe buying at these fresh highs and as I always say you can look at you know for example over here as well the price up here pretty much got to the exact same level and instantly shot down within an hour down to two million two hundred twenty thousand satoshis you don’t buy at those highs because that can happen right now it’s hardly pulling back right here and to think that it can’t happen is over exuberance you need to be real and realized that you know manera is no different than any coin it doesn’t matter if it’s being listed on some South Korean exchange it’s it is uh you know it’s definitely susceptible to every single same trend we see in other cryptocurrencies and overt optimism can take back all of the the the price action once it runs out so keep that in mind be disciplined don’t buy highs buy at the low if you would have bought down here and if you did if you had positions down here and you’re up on your money that’s fantastic what I recommend is sell at least though I’m no financial adviser take a partial share in my opinion if you want my opinion on it but that all being said you have to really do this how you want trade the way and invest the way you want to get paid it’s your business for those you have too long on my narrow congratulations it’s been an awesome awesome write-up on this and you know maybe mine arrows got a big future but seeing us it’s at fresh highs and the volume has just been overwhelming I can’t get along on it right now I’ll definitely look for a pullback and maybe we can have a nice receded pullback and find some support here at a big even like to 2,500,000 Satoshi’s that would be optimistic but until then I don’t think South Korean investors are buying and I think a lot of the FOMO that’s coming in is going to start depreciating the price and we can are to see that on the hourly it’s already happening right here’s the chart can’t even update fast to the for it so just keep in mind one area is probably going to see a very drastic pullback so be patient be resilient think long term and if you got a corner token you want me to cover in the nut in the next video my channel feel free to leave a comment down below but I appreciate y’all so much thank you all for taking the time to listen to me and I will see you all in the next video stay tuned

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.