Price Analysis

IOTA Price Analysis: Will Bears Again Play Spoilsport for IOTA (MIOTA)?

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  • Recent developments to boost IOTA’s potential
  • However, the price of IOTA has been affected by the crypto market volatility

IOTA (MIOTA) is a distributed ledger on the blockchain platform designed for the ‘Internet of Things’ and has no transaction fee. DAG is the core of the IOTA ecosystem. The recent tie-up with Jaguar and the launch of Trinity wallet should increase the potential of IOTA in the crypto market. The market was just getting out of the bear sentiment on Jul 03, but the bears have again ousted the bulls on July 04 and managed to control the price momentum and look set to have their way in the days to come.

Latest Statistics of IOTA:

As on July 05, 2019 at 6:06:22 UTC, current statistics are as below:

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IOTA Price Chart - 5 July
IOTA Price Chart
  • The market price of MIOTA is $0.3854
  • Current market cap is around $1,080,842,453
  • 24 h volume is at $19,131,247
  • MIOTA has a negative ROI of 39.10% but has managed to have a sound Circulating supply at 2,779,530,283 MIOTA

IOTA Price Comparison:

The 5-day price chart for IOTA shows that the prices have been continually on a downward swing due to the current crypto market volatility. From a high of $0.4140 on June 30, the price slid to $0.3801 on July 01 in a span of 1d 6h 10m; the movement was to the tune of 8%. The price then showed a slight upward rally of $0.4029 on July 02 to the extent of 5.90%. Within 14h 45m on the same day, the price went downwards to the extent of 5.14% at $0.3828. In a span of 1d 9h 25m on July 04, the price went up by 6% at $0.4059. The price of IOTA, however, fell to $0.3847, at the end of the day to the extent of 5.22%. Today’s price is $0.3854, the rise of which is very negligible compared to the previous close. This shows that price has been moving in the narrow range of $0.38 -$0.40, indicating that the bears continue to take charge.

IOTA Price Prediction:

Though IOTA has been making the right moves, the price has not been on the same level due to the crypto market volatility. The bears are in great form at the moment and pushing the price of IOTA further down. This scenario is expected to continue at least in the days to come. Analysts also feel that till the market stabilizes, no positive outcome can be expected.

Conclusion:

Investors should not only be well aware of all the developments taking place on the IOTA platform but also the crypto market sentiments. The wait and watch mantra is the need of the hour.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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