I wrote about this on Twitter and in the latest issue of the Monero Moon, but thought it is such a prominent chart I'd share it here.
After 4 years of Monero down-trending against Bitcoin, XMR has finally broken out upwards, and is looking like it will close the month out above resistance.
This is a rare and unprecedented event for any cryptocurrency to break out from such a long downtrend on the BTC pair, and as far as I’m aware has never happened before.
The last time XMR broke out of a long-term (22 month) downtrend against BTC was Feb 2016, before rallying 2600% against Bitcoin.
After 4 years of Monero down-trending against Bitcoin, XMR has finally broken out upwards, and is looking like it will close the month out above resistance.
This is a rare and unprecedented event for any cryptocurrency to break out from such a long downtrend on the BTC pair, and as far as I’m aware has never happened before.
The last time XMR broke out of a long-term (22 month) downtrend against BTC was Feb 2016, before rallying 2600% against Bitcoin.
I remember how downcast so many were even 4 years ago...
After the 2017 bull, and brief altseason we have all been crushed so badly. It is understandable that many lost hope. After all, most alts are absolute garbage. Most have deserved the 90+% losses, and the ones that have remained closer to the top have NOT deserved to be there. The only caveat is their demise might bring some pain to all the alts... even the ... well fuck it. I honestly think there is only one that deserves attention.
That said 290-330 is the last stand of the shitcoin levels. If it can take all that? Well. It's just open skies above that, I think. And I do not think it has to stay under it's XMR/BTC ath either. I see it having a good chance of attacking as far as .09 BTC if not the whole .1