Popular crypto analyst Coin Bureau is explaining why one privacy coin has “so much potential,” and could see astronomical gains by the end of the year.
In a new video, the influencer who goes by “Guy” tells his 600,000 subscribers that he sees Monero (XMR) leading the way in the privacy coin space.
The trader makes the case that in an increasingly under-surveillance world, privacy coins like Monero could become a lot more attractive.
“Privacy. It’s one of those things that you don’t think too much about until you actually need it, and by that stage, it’s probably too late. It’s also an unexplored crypto sector that I think has insane potential. It’s only a matter of time until the rest of the market wakes up to the risks posed by completely transparent blockchains. Leading this charge toward this financial privacy is Monero.”
While Coin Bureau is bullish on coins with public blockchains like Bitcoin (BTC) or Ethereum (ETH), he stresses that they’re not entirely private.
“Public blockchains were a great innovation as they allowed people to verify and trust them. However, they have an Achilles heel when it comes to privacy. Anyone can crack open a blockchain explorer and observe exactly what is going on for all addresses, where transactions are flowed and how much these addresses hold…
I know what you’re thinking: ‘Guy, I don’t use the dark web, I have nothing to hide, why should I care?’ Well, why don’t you walk down the street naked? Sure, you’ve got nothing to hide, but your business is your business. Moreover, in countries with repressive regimes, a mere donation to a cause they don’t like could land you on a list.”
Monero, which is trading at $240 according to CoinGecko, is currently undervalued from a fundamental standpoint, says Guy. He expects it to break its all-time high of $284 en route to a massive 316% increase before 2021 expires.
“There is a lot to look forward to in the Monero ecosystem, from atomic swaps to triptych research, from increasing adoption to greater decentralization…
My educated opinion is that we could easily see a return to Monero’s all-time high within the next three months. Then, if the crypto bull market continues to forge ahead, it’s entirely possible we see it about $1,000 by the end of this year.”
I
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxFeatured Image: Shutterstock/GrandeDuc