IOTA (MIOTA) seems to be in the news from a few hours now. The trend is already showing the quick upward scale, which is definitely switching the traders to invest in IOTA. After the launch of Coordicide website, the official IOTA foundation twitter wall has already presented the Coordicide solution for the users. The entire document is scalable to define the IOTA protocols with distributed ledger technology.
Considering the latest updates, IOTA is also declared as the new platform for data transfer and transaction settlement for IoT. With the introduction of Tangle (new DLT), this platform eliminated inefficient designs of the blockchain and introduced peer to peer system with decentralizing approach.
How does that affect the chart of IOTA, let’s see.
IOTA Price Analysis of IOTA on 31st May 2019:
At 9:28 UTC, the value of IOTA was traded at $0.476 on 31st May. You will be surprised to notice the surges in the last 5 days as the value is showing some great profits for the traders. The market rank of IOTA is 15 with the return of investment (ROI) at -25.15%. However, the ROI is still inked in red, but the trend is surely inviting short term investors in the pool.
The market cap of IOTA is 1,328,448,649 USD with 24-hour volume at 65,700,058 USD.
IOTA Coin Comparison:
The long term investment is still a concern for those who started trading in 2018. The value was as high as 2 $ then, which seems to be an impossible reach by the end of this year. But for the traders looking up the analysis from the beginning of 2019, the long term investment might have some results in profits for them.
The lowest value was traded at 0.2448 on 6th Feb. The value has increased to 94% from then. The highest, on the other hand, was seen a few days back when the price to $0.514 on 29th May. The price has dropped by 7%. The long term investment, thus, might be considered by serious traders this year.
The short term investment, on the other hand, is always a hand-picked choice for traders in IOTA market. IOTA saw some shady clouds on 10th may when the value was dropped to $0.2683, which now, increased to 77% (not bad at all!). So which one you prefer is the final dialect now!
IOTA Price Predictions and Conclusions:
For traders, the probable resistance level can be calculated at $0.577 and support level at $0.419 for the money to show stable profits. But betting at $1 value by the end of the year seems to be a pure gamble as compared to a current price that you might regret in the future. But with the launch of Coordicide site, it is difficult to predict the exact figure.
And of course, you won’t get it till you burn some fingers. Isn’t it the first rule of trading? IOTA is watched closely by the traders these days, but hopefully, the trend will continue to grow in the coming months.