Monero is the kind of coin Satoshi displayed
Nakamoto Satoshi, the inventor of Bitcoin would be impressed by the concept that Monero brought into the cryptic space wherever he is. The reason is that it is the digital currency that comes close to the concept behind Bitcoin.
Satoshi wanted a world in which financial transactions would be anonymous and at the same time safe unlike what many pioneer coins like Bitcoin, Ethereum and Litecoin have become. Coins that are at best pseudonym mainly because developers want to comply with the regulations of existing authorities contrary to Satoshi's dream.
Banks and other financial institutions usually share personal data with other banks, regulators and state authorities even without the consent of their clients. Satoshi wanted a platform where value could be transferred safely and securely, but anonymously unlike what is most obtainable today.
Monero has been able to restore that confidentiality in the use of coins as long as the user does not connect his or her identities to the public keys. This is the characteristic that makes Monero unique and that has made the regulators of various countries skeptical, believing that his untraceable transaction makes him a favorite among the unwanted elements.
However, Monero's privacy and security features are exceptional among digital currencies. With the currency market in a bearish condition, some analysts are saying it could be the end of the road to the nascent industry. Although this is unlikely, if the bubble were to burst, Monero is among the few coins that will survive thanks to its strong inclination to privacy and security, characteristics that many users want, features that will always be required.
Monero Experiencing Trend Reversal With the Bears Weaken
Monero is going in the meantime according to the analysis of the trends of the stochastic oscillator. The indicators favored the bears, but there was the formation of a bullish track, an indication of trend reversal. There was a short-term accumulation and the effect of the pressure was observed with the formation of bullish candles above the 10-day exponential moving average with the emphasis on the current data showing that the bulls they bet $ 129 in the upper supply area of the segment.
At 22% undefined in the oversold region, there is an indication that there would be a slight consolidation before seeing a strong movement supported in any direction with the uptrend that could be favored in the long run.  Traders need a good-sized approach if at this point the good earnings are completed. $ 128 in the upper bidding area is still sustainable, while we are looking at $ 120 in the lower demand area as untouchable.
Binance data show that 35079,573 XMR traded hands in a trading volume of $ 3,726.471 or 0.26% of total trade.  At Bitfinex, the volume of XMR / USD trade in the last 24 hours is $ 1,456,023 while the volume of the XMR / BTC trade is $ 1,244.831 or 0.43% of the volume of exchange traded.
Although Monero represents a small part of the volume of trade exchanges, the future of money is brilliant due to its uniqueness and the efforts of developers to add more features like Bulletproof to its protocol.
XMR / USD price chart, Wednesday 29 August:
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