Should You Swap BTC for XMR in 2024?

Coinspeaker
Should You Swap BTC for XMR in 2024?

The crypto market holds dozens of assets, and the wisest investment advice is to diversify your portfolio. Bitcoin BTC $64 416 24h volatility: 1.3% Market cap: $1.27 T Vol. 24h: $28.46 B is the leading cryptocurrency, with solid fundamentals and excellent market performance. But other coins, like Monero, also hold great value and are worth considering.

You might be thinking about converting your BTC to Monero but can’t decide if it’s a good investment or not. In that case, it’s important to take a deep look at each project, as well as their price predictions. Then, you can decide whether to invest in XMR XMR $163.9 24h volatility: -2.7% Market cap: $3.02 B Vol. 24h: $49.92 M or go full-on BTC.

BTC vs Monero Overview

Bitcoin and Monero both have a long history in the ecosystem. Bitcoin was the first cryptocurrency created, in 2009. Monero, on the other hand, was one of the first blockchains to focus primarily on privacy.

This focus is significant because, while Bitcoin addresses are not necessarily linked to a real identity, all transactions are open and visible. So, if someone traces an address to you, they can know how much you own, and what payments you make. Monero’s infrastructure obscures the amount being sent, as well as the transactions registered on the blockchain.

Both approaches are valuable, and each has different use cases. Regulators fear that privacy coins could be a tool for illicit transactions. However, the truth is, there are many reasons for a regular user to care about their financial privacy.

BTC & XMR Price Changes

The last couple of months have been very positive for the crypto market as a whole. Most coins and tokens have seen an upward trend in price and market capitalization. However, some particular factors impact the price of each coin. You can check the market trends and compare coins with one another. For example, you can check the AVAX vs LINK comparison, or BTC vs XMR, to know which has performed better and which has a brighter future.

XMR Price Prediction

Monero has not benefitted greatly from the current bull market. Its price at the time of writing is around $130, which is 13% lower than at the start of the year. This is due to XMR being delisted from major exchanges. The blockchain also suffered from an attack on November 2023 on the community crowdfunding wallet. However, it has started going up in the past few weeks, and analysts predict it will continue this trend. The price for the coming months will be between $160 and $240.

BTC Price Prediction

Bitcoin has been a top earner during the current bull run. This year, its price has increased 135% and currently sits at around $63K. Market experts believe this trend will continue in the following months, and by year’s end, BTC is expected to cost around $110,000.

BTC to XMR: Time for Exchange

Both Bitcoin and Monero are great investment opportunities. Bitcoin is always a safe bet, but Monero is likely to yield some gains in the future. Moreover, analyzing them from a value proposition optic, we can see that XMR can be a very useful coin to protect your financial privacy. In times when personal data is a valuable asset, it’s best to protect the information you share online. And few things are as important as your financial records and current status.next

Should You Swap BTC for XMR in 2024?