I have been following Monero off and on for about a year now, and have been accumulating various amounts since around March of last year. I certainly do not know as much about Monero or other cryptocurrencies as most of y'all, however, similar to what somebody was saying earlier- bubbles can be immensely beneficial for the Monero community. Just as he was saying, out of bubbles such as the 1929 bubble, the dot com bubble, or even the Bitcoin bubble, many long lasting companies and investors were created. Monero is the internet's best kept secret and the community suffers from a serious lack of publicity and marketing. Now with the recent update more of the general public can become involved and begin to pump up prices and begin generating serious interest in this wonderful project.
P.S. I have my own hopes and predictions, but, I would like to ask all of you where you see the price of Monero in the next: month, 3 months, 6 months, and year- respectively.
That's not easy to answear really.
It is all about marketing and selling this project to people outside of this forum. Potentially there are probably quite big need for a coin like this but unfortunately the problem is the ones needing Monero the most probably never heared it before.
If the marketing issue will be fixed, I think everything else will follow as a positive loop that I've described in my earlier post into this thread.
A few million usd invested in Monero will bring the price to another level. The whales probably own so large share of the pie that pouring out a couple of millions of dollars increase the marketcap by quantom leap.
To marketbuy Monero until 0.01 (roughly 10 times from current) costs around 1300 btc and to maintain it it is required with current emission 108 btc/day. I am not taking into account the number of coins sitting on sidelines waiting to be sold but also I am not taking into account "fake sell orders" either. Therefore, if there are 1000 people actively buying coins, one buyer needs to spend 0.11 btc/day to maintain it there and if this 0.11 btc/buyer/day is a constant flow of btc into Monero the price start to rise slowly from there even without much pumping due to gradual decrease in coins mined per day.