If you’re into privacy coins, then you can be sure about enjoying the ability to carry out transactions privately in anonymity. There’s an additional feature in privacy coins more important than functionality. Some analysts believe privacy coins may be the future of cryptocurrency, maybe the best cryptocurrency to invest in.
The two cryptos under watch today offer fungibility. This guarantees your coins are interchangeable when you do transactions to specific addresses. It is only with privacy that Fungibility can be guaranteed. Monero and Dash both offer fungibility. Which one of them is the best cryptocurrency to invest in privacy coin-wise?
Monero (XMR) Price Today – XMR / USD
Monero Price Prediction: Monero Price May Push Upwards – Monero Price Forecast
Monero (XMR) is a private, secure, and untraceable currency solution. Your Monero funds won’t be associated with your address like is the case with Bitcoin. Your public record won’t contain any mention that any funds got to your recipient’s public address.
From the chart, it’s easy to see that the price of Monero was in a downtrend. This started in the early phase of 2018 when the market crashed and hasn’t halted since that time. During bear or bull runs, remember that we’re trading against BTC. After all, that’s the point of gaining hugely against the USD if you lose your entry value?
Looking at the current status of the coin, this is probably the best time to enter the Monero market as the digital asset seems to have bottomed at the 1,000,000 satoshis level against BTC. The price of Monero is sitting at 1,090,000 satoshis, 9% higher than what it attained during its low point.
However, the chances of a move towards the downside remain on the high side. The next targets should be near the 20-day EMA. This position could also become a resistance level. After that, the Monero price could test 1,280,000 satoshis against BTC. This position may take some time to get broken.
If we are fortunate, the 20-day EMA may soon turn a support position. This would mean that the price of Monero will finally start pushing upwards.
Dash Price Prediction: Dash Price May Trade Above the 200-day EMA in Under Six Months – Dash Price Forecast
The Dash (DAO) protocol is an open source crypto solution and decentralized autonomous organisation run by a set of users known as “masternodes”. Masternodes typically approve and validate transactions. The Dash model uses the Proof-of-Stake consensus algorithm along with its masternodes. Dash allows for faster untraceable transactions.
Much like the Monero price, the price of Dash is currently struggling to attain gains against Bitcoin. The most recent push for the digital asset was a move that surpassed the 20 and 50-day EMAs. This occurred despite the fact that it did not last very long as traders returned to Bitcoin to enjoy gains. In terms of price, Dash managed to gain over 15% in a few days. At the time, it went from 1,660,000 satoshis to 2,220,000 satoshis.
Despite the fact that a positive pattern was forming in the early part of January, in April it was only smoke and mirrors. Because the price of Dash tumbled by 50% in 40 days at the time. As the bears have begun to go back to their caves, Dash may follow the movement of Monero and the other top altcoins. The Dash price will soon rally to new highs. If Dash can manage to find support near the 50-day EMA, we may see it trading above the 200-day EMA in under six months. For now, investors are advised to be cautious before going into the Dash market.