Bitcoin and Monero are some of the most traded cryptocurrencies, and it's no surprise. Boasting unique features, these are undoubtedly trendsetters in the cryptocurrency world. Most cryptocurrency exchange platforms are BTC to XMR trading pairs. In this article, we will analyze the BTC to XMR trade to give you a deeper understanding of this trade.
Bitcoin and Monero: Overview
Bitcoin is the number one cryptocurrency and operates on blockchain, a distributed ledger technology. Its primary function as a store of value stems from its limited supply of 21 million coins. This scarcity is programmed into the protocol, making it immune to inflationary pressures.
Monero (XMR) is an open-source, privacy-oriented cryptocurrency launched in 2014. Monero's blockchain hides transaction details such as participants' identities and transaction amounts.
BTC and XMR have had their ups and downs, but 2024 holds great promise for these two cryptocurrencies. Here, our forecasting experts have devised a research-based price prediction. These predictions include industry leaders and lesser-known assets. GALA price prediction, for example. Therefore, be sure to check it out to get better information about market changes.
BTC price prediction
As the Bitcoin halving is scheduled for April, experts are analyzing the impact of the halving on the BTC price. Blockware Solutions expects the price to rise after the halving, and his target price is $400,000.
Looking at specific years, 2025 shows the highest annual amount of $148,893. Bitcoin price prediction for 2026 suggests a high of $179,158.
Extending the outlook to 2030, the price of Bitcoin is expected to fluctuate between $167,055 and $303,147. This indicates potential upward movement.
XMR price prediction
XMR price is predicted to reach an average of $262.687 by the end of 2024. Rising inflation and regulatory measures may influence fluctuations, leading to an equilibrium around this average.
Considering the bullish trend, XMR could trade at an average price above $355.844 by 2025. According to Monero's predictions, the average transaction price in 2026 will be around $448.583 and could reach $834.787 by 2030.
Factors affecting BTC and XMR trading
Bitcoin and Monero have had to overcome various challenges over the past year to get to their current position through bullish and bearish sentiment.
Market trend
In 2023, Bitcoin will start above $16,000. It rose steadily throughout the year, hitting a 12-month high of $45,000 in December, surprising skeptics. Bitcoin’s impressive run reflects a 180% rise, demonstrating its resilience amidst global uncertainty.
Monero has fallen by nearly 10% following OKX’s decision to remove 20 trading pairs, including XMR. OKX stated that these crypto assets do not meet the listing criteria. According to CoinMarketCap, as of this writing, XMR trading prices have suffered a 6% price decline, making it the third-highest loss asset during this period.
technical analysis
Recently, Bitcoin trends have shown a mix of bullish trends and subtle fluctuations following the US Federal Reserve meeting. Key indicators such as RSI (51) and Stochastics (65) show a largely neutral stance. CCI has fallen to -71, indicating a bearish undercurrent within the neutral zone.
Monero is falling due to reduced accumulation among traders. This is evident as the key momentum indicators are below their respective center lines.
Regulatory considerations
Investors have expressed concern about a possible delay in approval of a Bitcoin ETF by the U.S. Securities and Exchange Commission, contrary to the expectations of many Bitcoin enthusiasts.
This uncertainty created anxiety among short-term traders. Especially given the rapid increase in leverage, we are encouraged to exit long positions. Additionally, XMR appears to be facing an imminent threat of losing liquidity and investors. This is believed to be due to increased regulatory crackdown on financial privacy.
BTC to XMR: Is it time to exchange?
BTC to XMR is gaining a lot of attention on crypto exchanges as a popular trading pair. The potential for high ROI is real and bullish market sentiment is further supporting the trade. Investors have good reason to shift their focus to this trading pair, as both coins are poised for significant upgrades this year.
