In just a week the price of Monero (XMR) has increased by more than 33%. According to coinmarketcap.com the current price of this cryptocurrency is about $ 366.
The main reason for the increase in the price of Monero is an upcoming fork of the cryptocurrency, which should be a new coin called MoneroV.
All holders of Monero will receive free tokens MoneroV in the ratio of 1:10, i.e. for each token Monero, you will receive 10 tokens MoneroV.
See also – Everything you need to know about MoneroV, cryptocurrency, which will appear in the result fork Monero
Now, after the price of the original cryptocurrency has grown, investing in additional funds may not be the best idea.
Fork with subsequent airdrop is becoming a popular scheme in recent years. Usually the price of the original cryptocurrency in this case, grows until the fork, and immediately after it falls. However, in recent times, this scheme began to falter.
The most striking example is Ethereum Classic (ETC), which today should be a fork of Callisto.
On 20 February the price ETC have jumped to almost 44 dollars, but since it dropped to $ 29.
Obviously, some traders decided to take advantage of growth and to take profits at a high price. If you are planning long-term investments in the cryptocurrency, this should not scare you. However, if you have planned to quickly capitalize on the fork and bought at a price of around 40 dollars, it is obvious that to close now (and in the near future) you will be able only drawback.
To ensure that this situation does not happen again with Monero, nobody can. Moreover, about the project MoneroV little is known and more or less accurately predict the price of this new cryptocurrency is almost impossible.