For now, Bitcoin has a widely distributed network, as its protocol has been deemed as more trustworthy in comparison to other projects like Ethereum, XRP, etc.
However, the concentration of mining pools in China is a subject Bitcoin maximalists love to avoid, while simultaneously denouncing altcoins. Monero forks twice every year, on the basis of suggestions drawn from members within the community. In fact, that is the very essence of decentralization.
You should take a look at this post on Reddit by SteveLovesCrosswords published 20 hours ago. Bitcoin has forked many times, resulting in the creation of Bitcoin Cash, Bitcoin Gold, and so on. This proves that when disagreements occur, splitting up is usually the optimal solution for the king coin.
— ShopinBit.de (@shopinbit) October 8, 2019
Monero has dropped to #15 in the market after Chainlink successfully overtook it following a major bull-run. The trading volume recorded stands at approximately $71.301 million, while the supply has 17,254,462 XMR coins in play for now. The total market cap of Monero amounts to $934.683 million as of this instant.
The price sunk at a rate of 2.48% in the course of the past 24-hours which in turn brought XMR all the way down to $54.17 where it presently rests. This is a perfect opportunity for newbies who’d like to begin HODLing, as Monero is by far the most relevant privacy-centric project and will surely withstand the test of time [and neglect displayed by centralized exchanges like Coinbase].
According to the candlestick chart linked to the XMR/USD pair on tradingview, active sellers are trying to push the value of Monero towards $50. The daily RSI [for 14 periods] is at 33.2 indicating that Monero might enter the oversold zone by next week if buyers don’t catch up by then. The distance between the MACD line and the signal line is also declining, signifying the rise in bearish pressure. The support level can be located near the $52.4535 mark.
We’re trying out something new tomorrow, and hopefully you can join us! Watch the @monero community play 0 A.D. (@play0ad), an open-source game similar to @AgeOfEmpires. Starting ~18 UTC. https://t.co/ZJz8t1pMrG pic.twitter.com/vF7sCw1bJz
— Justin Ehrenhofer (@JEhrenhofer) October 11, 2019