An altcoin with a long and storied history, Monero is currently rising in a way that has never happened before. After closing higher for twelve consecutive days – a new all-time high for the privacy-focused altcoin – Monero looks poised to make history again with a thirteenth consecutive higher closing price. What happened after other Monero winning streaks in the past? Let’s take a closer look at the price history to find out.
Monero Win Streak makes history
Monero’s current winning streak of 12 consecutive higher closes breaks the previous 2021 record of 10 consecutive higher closes. While the price advantage is clearly impressive, its unprecedented nature means that we need to look at past and shorter winning streaks to understand what lies ahead for Monero in the future. In other words, we will use the previous shorter historical profit streaks to generate enough events to draw a more statistically meaningful conclusion.
Win streak Monero 2023 | XMRUSD at TradingView.com
Win streak Monero 2021 | XMRUSD at TradingView.com
Because the number of cases varies based on retention time, we’ll start by listing the number of times six consecutive higher closes have occurred in addition to our various hypothetical retention times from 7 days to 365 days. Holding time is defined as the amount of time people held the asset before abandoning it. For example, if someone hypothetically bought Monero after the trigger event (i.e. 6 consecutive higher closes) and sold it 30 days later, this would be a 30-day hold.
Monero Occurrences of Six Consecutive Higher Closes by Waiting Time (May 2014 – Present)
- 12 events with a retention time of 7 days
- 12 events with a retention time of 15 days
- 12 events with a retention time of 30 days
- 11 events with a retention time of 60 days
- 11 events with a retention time of 90 days
- 7 events with a retention time of 180 days
- 5 events with a retention time of 356 days
While the number of cases remains limited even with the shorter win streak, previous Monero winning streaks of six consecutive higher closes provide plenty of data to investigate, so let’s dive into the analysis.
Past Monero profit streaks suggest more strength ahead
The hypothetical average trading results for Monero (XMR) show a consistent positive benefit over all holding times from 7 days to a year. Please note that while the average historical trading results are positive for every holding time we examine, there have also been losses for every holding time.
Monero Hold Time Results For Six Consecutive Higher Closes | SOURCE: Table
Assuming a hold of around three months, recent profit streaks have averaged much larger profits, with average trades of +65.1% on a 90-day hold, +121.7% on a 180-day hold, to a impressive +373.8% with a retention period of 365 days.
While we’ve certainly never seen a series of consecutive higher closes to match the current twelve and close to thirteen, Monero’s long price history suggests more strength could be ahead, especially at three months and beyond.