It’s raining darkness in the crypto sphere where the altcoin like IOTA had already lost its value to a great extent, and it’s still on the verge to lose its value to a very significant level. Its almost been a week since IOTA has been running in the bearish zone. This is not only indicating high liquidity of the crypto but is also posing serious threats regarding sustenance of the same in this intense, volatile market. The erratic and turbulent nature of BTC is making all other altcoins very hard to hold on to their grip over their bullish price ranges.
IOTA Price Current Statistics:
|Price in USD:||0.4486 USD (UTC time 01:37)|
|Price in BTC:||0.00005609 BTC|
|Circulating supply:||2,779,530,283 MIOTA|
|Market cap:||1,253,540,172 USD|
IOTA Price analysis and future price predictions:
The above 5-day chart shows that the bearish trend of IOTA is highly persistent due to which it is considerably losing its value for the past 1 week now. In the last 5 days, it has not been able to peek up above the bearish zone, even to the slightest extent. This somehow indicates that reviving its value back in the upcoming days is going to be hectic for IOTA. On 3rd June, it had a value of 0.4698 USD, from which it further deterred down to 0.4026 USD on 6th June. So, within the past 5 days, the value of IOTA has reduced by 4.51%, which is strikingly alarming to the investors who had been awaiting the splurge for this crypto. The arrow on the chart highlights that in the upcoming days, bearish trend will be dominating and IOTA will continue losing its worth to BTC. The momentum of IOTA has reduced miserably and steeped aggressively towards the bearish trend lines. Taking these concerns in mind and also the fact that IOTA has no supporting levels to give it a solid push, we assume that in the coming days, it can trade around 0.4230 USD.
Currently, the condition of the crypto market is really miserable, and no investor can gain enough profit even with the short-term investment on any crypto. IOTA is one of them. Despite its growing recognition and large extent of adoption by globally renowned companies, its fate is very much in the hands of BTC and the volatility of the market condition. It seems that altcoin like IOTA will remain in verge to lose its value to BTC throughout this year as volatility is expected to be dominant till the end of 2019. So, considering any form of investment before the market condition exhibits any major growth, can be a futile idea.