Price Analysis

IOTA (MIOTA) Price Analysis : What’s Awaiting for IOTA this Year?

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IOTA (MIOTA) is a crypto technology that does not rely on the blockchain. It is appreciated the form of the Internet of Things Application, and it facilitates transactions between devices based on IoT. The basic advantage that it has over other cryptocurrencies is that it has no blocks or chains which infers scalability issues during transactions. The devices on its network verify each other’s transactions randomly, and this is why it has a consensus through the web of connections between transactions. IOTA promises its users to have fast, free transactions. It is also designed for micropayments and payments between machines that facilitate machine to machine micro-economy.

Current status of MIOTA

IOTA is currently getting traded at USD 0.281917 (UTC time 08:20). Based on its market cap, it is the 14th largest cryptocurrency with a circulating supply of 2,779,530,283 MIOTA worth of USD 783,598,051. Based on its yesterday’s price, the value of MIOTA has been reduced by -0.07% today. It is currently following a bearish trend.

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Price analysis of IOTA (MIOTA) on the basis of IOTA charts

IOTA

On the basis of the above chart, at present, IOTA has a trading value worth of 0.284195 USD or 0.00007183 BTC (UTC time 08:22). Its current market cap has a trading value of 789,927,290 USD. Its current 24h volume is worth of 7,390,869 USD. The same chart shows that approx. One month earlier, IOTA had a price point of 0.295773. So, considering these two price points, it is evident enough to understand that the price range of IOTA has been following a bearish trend. Its value has been reduced by -3.91% within this one month.

Future price prediction of MIOTA

IOTA is already much popular in Distributed Ledger Technology operations, and the upcoming years, it is aimed to transform many industries. With this intention, many globally renowned car companies have also shown their interest in the blockchain technology. IOTA can secure many efficient partnerships including automobile and financial industries. Due to this, it is expected that its future looks will be promising. As per the prediction of Mega Crypto, IOTA can reach $1.13 by the end of 2019, by 2020, it can have a value of $2.37, and by 2023, it can be trading at $4.88. According to Smartetereum, IOTA’s value can increase threefold in five years, and it can be around $38 by the end of 2024. According to Trading Beasts, IOTA can reach a maximum of $10.38 and a minimum of $7.06 in 2020.

From all these predictions, it is evident enough to understand that IOTA has a bright future. Its prices will mostly be on the bullish trend in the upcoming days, and it is a great option for long term investment.

Overall thought

IOTA’s technology is highly innovative and has the capacity to bring a major change in many industrial sectors. It’s getting highly fluctuated recently due to intensive volatility but, in future, it is expected that its price will attain stability due to which it can regain its value.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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