Monero hits $280 USDT, But is it just tied to the upcoming MoneroV fork?

Use https://monero.how/ as a resource for up-to-date news and tools about Monero, including it’s price.

Well it has been a bullish week (15 April to 22 April 2018) for Monero as the price shot up to over $280.80 USDT on 23 April 2018.  Speculation of the future price may be HIGH due to an upcoming HARD FORK on or around 01 May 2018.  Monero will remain Monero, however a newcomer, MoneroV, will be forking the blockchain and creating a completely new coin called MoneroV.  Essentially the development team at MoneroV will clone the Monero blackchain, multiply the current supply by 10, and start a whole new coin in a whole new direction away from Monero.  Sure, go ahead, have fun.  They say, “Imitation is the sincerest form of flattery.”  Well, that may be true in this case.  Many people want your idea or want you to teach them how to do your idea, simply for the fact that they themselves cannot come up with the answer, but you can, you’ve been doing this for years now, you’re the top dog in this fight.  So when the devs say, “OK, new update, new algorithm,…”  New whatever WE ARE ON BOARD WITH MONERO.  This coin plus Ethereum and Bitcoin and maybe Electroneum and Ripple, PivX and Dash and the list goes on, they are the coins to be copied and to be held to the best standards.  That’s why everyone wants to be like them, but all they end up with is an ICO, a “lending platform”, a “referral link”, etc.    If Monero hits a price like $325 on April 30, 2018, then after the hard fork I would not be surprised if many dump the coin and a correction in price back down to $220 area.  Let’s wait and see.

HODL – Monero price on the rise

HODL, or hold, your monero.  It is gaining momentum as the MoneroV hard fork nears in about 13 more days.  Price may climb steadily about $1 a day to about $244 USDT on Poloniex or other exchanges.  Then some price speculators may exit the Monero (XMR) market (dump) and then also dump or HODL the MoneroV coins for a profit.

(widget price module found at https://monero.how/)

Monero turns four years old

The cryptocurrency coin Monero turned four years old today.  It’s price reached $233 USDT on some markets.  Futures may look UP for Monero going into MAY 2018 as a new HARD FORK will occur causing a new coin to be created called MoneroV.  Similar to what Monero Classic did after the Monero (v7) hard fork on April 6, 2018, MoneroV plans to multiply the current supply tenfold.  So speculators may perform a small pump-and-dump of Monero leading up to and just after May 1st, 2018.  My best guess is that Monero hits at least $244 maybe $265 before May 1, then back to $210 after that date.  Just a guess, let us sit and watch the action unfold!

The day after the hard fork, what now??

Monero has forked and here is what happened in the first 22 hours after the fork:

• The network hash rate dropped to below 200 Mh/sec

• The network difficulty has remained above 134 billion

OK, so that tells me that either 800 to 900 Mh/sec which were active and valid before the fork are missing.  What mining efforts comprised of those hashes?  We must assume that at least 15 to 25% of the missing hash rate is simply CPU and GPU miners that have not correctly upgraded their mining software OR they are stuck with mining pools which are currently off-line or mining on the wrong blockchain.   The other 75% would be a combination of BOTNETs and ASICs.

WHEN WILL THE DIFFICULTY CHANGE?

Difficulty on the network is changed every 720 blocks, so expect it to change on block height 1546719.  It will drop dramatically to make up for these first five SLOW days of block mining.

UPDATE APRIL 8, 2018 1230 EST

Now two days into the Monero (v7) fork and the network and difficulty are going down SIGNIFICANTLY!!  This means you need to update your mining rig software and fire up those RX480′s and get back to mining!  The value of your hash rate has gone UP!

(Source:  https://www.supportxmr.com/)

If you notice the difficulty today as well as the hash rate, compared to two days ago (day of the hard fork), you’ll see that there is an 80% drop in difficulty.  This means that CPU and GPU mining is profitable, for now.  It also means that ASIC’s are OFFLINE!

On the eve before the Monero hard fork (v7), the network hash rate remains high

At an average difficulty between 100 and 120 billion, how far will it drop starting tomorrow morning around 6:00 AM EST?

This fork will change the algorithm used to mine monero.

Learn about the change here in this youtube video:  https://www.youtube.com/watch?v=HZ1BoCC2w-Y

In ALL CASES you will need to update your software to the latest version.  This includes mining software (like Claymore) and the wallet software, latest monero-v0.12.0.0

Learn more at this website: http://1stminingrig.com/monero-cryptonight-v7-and-sumokoin-hardforks-all-you-have-to-know/

I can only predict that the difficulty will HALVE, thus gaining you more XMR for your mining rig (if it is updated).  Good luck!