If it was just an unrelated pump and there is nothing at all behind it, we could see 100k again.
If XMR is on the move, you should be buying instead of reading. Any price starting with 0.00 is good.
If XMR is on the move, you should be buying instead of reading. Any price starting with 0.00 is good.
I think it's an unrelated pump. It is no coincidence that XMR went up alongside NEM, ETH, MAIDSAFE, etc. All of those coins have something in common: they are predominantly traded on Poloniex. This run likely has little to do with XMR's properties. It has everything to do with where XMR is traded and the fact that XMR could go up easily. This is a "polo pump." Many polo-coins will take turns getting pumped until the money that is concentrated on polo flows back out of polo
Disclaimer: I've been wrong 1000 times.
Then I guess the real question is how often you have been right
.But no matter the short term outcome or cause, I really do agree with the second part of your follow-up post (quoted below). Something that easily draws attention is an explosive rise in price, but then you go down the rabbit hole.. I learnt so much. Not only about how Bitcoin and then Monero work and the value they have (still learning every single day), but also about economics, money, open source projects, trading, etc etc. I would say it changed my (naive?) view on many things.
The thing with Monero is that you first need to have a basic understanding about economics, money and Bitcoin. And their shortcomings. And then when you are lucky you bump into Monero. It takes time.
I also agree that this is great for awareness of XMR. Many people were drawn into BTC just for the pump, but then they learned about BTC and began to believe in the idea of an independent money. The same thing could happen with XMR. People may come for the pump, but then stay for the fungibility.