Why is the price of Monero down in the past month?

@wealthyu I think the price relative to BTC has been relatively stable (in-fact, I think XMR has gained a bit on BTC).

Other than that, the price of all altcoins are tied to BTC in some way, and so if BTC is doing poorly - everything else suffers.
The best way to gauge the price of an altcoin without BTC factors is to look at the price relative to BTC. It's a better indicator.

As far as what's happened to BTC (And thus Monero too as collateral damage) look here: https://www.youtube.com/watch?v=eyyDNAj6K_c

Bitcoin has been dumping because of MicroStrategy selling BTC and also concerns that the bear market is going to last another year or so.

@xenu

Bitcoin has been dumping because of MicroStrategy selling BTC

that's your narrative tho, it did dump around the same time he sold "32 btc"
https://monero.forum/thread/saylor-sells-32-btc
from $73k when you made the post to the $63k - $60k range few days later

but now it's been more than a month it's still in the exact same $63 - $60k range and hasnt moved at all
https://monero.forum/thread/saylor-sells-3588-btc-216-million

How will the markets react?

didnt seem like the market reacted as well, sell wall must just have been bought by one of his collegue maybe lol, idk, did blackrock or somethin just bought saylor's bitcoin in OTC so the price didnt even move? :tinfoil:

@wealthyu

Monero has been absolutely dying over the past month but what is the reason? Did something happen causing a mass sell off?

has it tho? seem to be the exact same $63k - $60k for over a month now, and the sell of 3588 BTC from saylor didnt seem to have any impact whatsoever while his sell of just 32 BTC over a month ago somehow did? shit dont make sense, the whole market is fake, whales washtrading between themselves

edit: @wealthyu oh my bad lol, u literally said monero and i was still on about bitcoin lol, dont mind me i guess lol

@SpinningCat It is far too early to judge that Bitcoin won't continue dumping. Strc is still below it's $100 target despite increasing yields and MSTR briefly rallies before dumping again. I expect we will be in the 50s soon.

Bitcoin is never going back over 100k mark my words :)

@Stylus1063 why can’t both BTC and XMR succeed?

@Geek In your opinion, what do you expect will happen to the xmrbtc pair chart in the long term and why? I agree its an interesting pair to watch.

@xenu not more than a feeling but i see it more at 30-40

@Nebuchadnezzar_II I personally see it staying stable for a very long while. I personally don’t see a world in where everyone abandons BTC, and jumps ship to XMR. If BTC fails, so does every other alt coin.

There’s countless examples in history of times where both:
A) the world tends to value convenience over what’s “right” or “superior” Anything related to Privacy is generally inconvenient.
B) Projects like TOR, Torrents, etc do stand the test of time despite attempts to shut it down.

XMR is proven because it has not failed despite the delistings. It’s not going away. That’s for certain. However, it’s not going to “take off” either.

BTC is like digital gold. XMR is like digital cash. They compliment each other. There is a roughly equal amount of BTC and XMR in circulation, and tail emissions will keep XMR useful for years to come.

I think the question should be how can XMR and BTC coexist and not how can one beat out the other.

More shops who take monero could make a difference.