Price Analysis

IOTA is Expected to Sustain its Bullish Trend in This Year

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IOTA is the abbreviated form of the Internet of Things Application. It is a brilliant crypto technology that facilitates transactions between devices relying on IoT or Internet of Things. The brilliant feature of this crypto technology is that it addresses the transaction fees as well the scalability issues of the blockchain technologies by eliminating the block and the chain. For submitting a transaction to the IOTA ledger, one must verify the other two previous transactions. This kind of verification ensures that there is no involvement of central ledger and there are no inclusions of miners to power its network. With the aim to become the standard mode of the transaction between Internet-connected devices, IOTA is expected to rise well in this year.

Current position and facets of IOTA (MIOTA)
  • IOTA is currently valued at $0.311601 USD (UTC 06:49).
  • It has a market rank of 14 in the crypto market.
  • Its current market cap is valued at $866,105,391 USD.
  • Currently, 2,779,530,283 MIOTA is in circulation in the crypto trading sphere.

On the basis of its current resistance and as per the analysis of the crypto predictors, this crypto has the ability to spike high in the upcoming days. Another significant factor behind this is that IOTA is in partnership with globally renowned business giants like Samsung, Cisco Systems, Volkswagen and Microsoft which contributes to the fact that it has some leading investors from the world.

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Price analysis of IOTA on the basis of charts

Iota chart

On the basis of this chart, the current price of IOTA is 0.311139 USD or 0.00007806 BTC (UTC 06:57). It has a current market cap of 864,820,944 USD with 24h volume valued at 9,006,549 USD. From this same chart is seen that on January 25, 2019, IOTA was valued at 0.292084 USD. So, in this nearly one month period, the price of IOTA has spiked up by 6.52% with very good support of 0.278665 USD, the price of IOTA on February 8, 2019.

Future predictions of IOTA prices

On the basis of its present resistance at 0.311139 USD, its price has hiked up by 1.72% than yesterday. IOTA is one of the largest cryptocurrencies on the basis of its market cap. As per the cryptoanalysts, within one year, it can grow up to $3.214. So far long term plan or 5 years plan is considered, IOTA can rise to $9.847. Even, this cryptocurrency has been on a bullish trend for the past 12 months, and on the basis of the price predictions, it is estimated that in future also, IOTA promises to be on a bullish trend line. The crypto analysts have assumed that a five-year investment on IOTA can have a predicted return close to 3065.033923%. So, it is very evident that today is great for investors to splurge on this.

Summing up

With major partnerships, IOTA has already got giant crypto investors by its side. Moreover, as per the above price analysis and predictions, it is cleared that investors who are aiming to have a good return by investing on a long term plan on any crypto, then they should consider IOTA in their list.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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