Monero is by far one of the best cryptocurrencies in the industry. Its privacy features makes it one of the most feared cryptocurrencies by governments all around the world. With Monero's privacy features also comes its fungibility features which is needed and wanted to even be considered a currency. I believe it is closer to a real currency than Bitcoin is. However you want to view it, the point of this post is to give a future price prediction of Monero.
I have seen several price prediction for Monero all over the internet. Some of these price predictions are as low as $0 and as high as $18,000. I believe Monero will go even higher! Let me explain:
Monero's privacy features are highly valued and used by people using the dark web. Although most of us disagree with this type of behavior, that is not the only reason Monero is used for. And before Monero even existed, people were most likely using cash or other forms of payment to accomplish their wants on the dark web. But my price prediction will surpass what market cap is being used by Monero on the dark web.
According to Greg Voakes of businessinsider.com, the black market has a 10 trillion dollar market cap yearly. A link to the article will be posted below. A simple google search will also show other articles making the same claim. I think that cap is much higher but we will use that cap for this price prediction.
As Monero wallet user controls and features become easier to use and develop over time, ease of us will make it used more. Lets look at a scenario where a drug dealer is going to make a large order of a particular drug. They will no longer have to carry 5 briefcases full of $100 bills. They will simply keep this amount in their Monero wallet on their phone. Once the transaction takes place, the buyer and seller can go on their way.
To think that within the next 5 to 10 years that 10% of the black market for even 1 year uses and stores Monero, we are already at a much higher market cap. Lets look at some math below:
10% of 10 trillion dollars is 1 trillion
Lets say the supply of Monero at this time is 18,000,000
1 trillion dollars / 18,000,000 coins = $55.555
Thats right, that would make each Monero worth $55,5555. Is it right to profit off the black market? No, I don't believe it will be, however I do believe this market will use Monero as all of its privacy features are set by default. Why would they use Dash and or Zcash and have to set the privacy feature up? They will take no risk with their privacy. Monero is the only cyrptocurrency that can do this at the time of writing.
Lets look at another more likely scenario:
50% of 10 trillion dollars is 5 trillion
Lets say the supply of Monero at this time is 18,000,000
5 trillion dollars / 18,000,000 coins = $277,777
The above appears to be a more likely figure because as technology gets better, and user functions become simplier, more and more people will use it. So my price prediction is that Monero will be worth $250,000 in the next 10 years.
DISCLAIMER: I am not a financial adviser, and you need to investigate these claims and do proper research before investing in anything whether it be stocks or cryptocurrencies.
Referenced Article: https://www.businessinsider.com.au/infographic-the-business-behind-the-black-market-2012-1