Monero Gains 20% This Week as Satis Report Injects Bullish Sentiment
Monero value this week has surged more than 20 percent after a report published by the Satis Group predicted robust bullish forecasts for the privacy-centric cryptocurrency.
The XMR/USD pair on August 30 was trading at around 97.36-fiat after strong bearish sentiment rejected the previous upside near 110-fiat. The same day, Satis Group, a major ICO advisory firm, published a report predicting Monero among the significant price gainers within the next decade. Soon after the story hit the public domain, and got covered Bloomberg, the XMR/USD started to show strong upside swings and broke key resistance levels. Just today, at the start of the Asian session, the pair established 142.70-fiat as its new intraday high, the highest since July 28.
Satis: Monero Value Could Reach Over $41,000
The Satis report predicts Monero value to surge by a whopping 38,391 percent over the course of next ten years. The study believes there will be a strong use case for anonymous cryptocurrency projects like Monero in the future that could lead to a surge in global demand.
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