Price Analysis

IOTA (MIOTA) Price Analysis: Can IOTA’s Talks with Ford Motors Push the Coin’s Value?

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  • The potential deal with Ford Motors will be an ominous sign for the IOTA coin.
  • The medium-term bullish trend targets a price range of $0.35.

IOTA (MIOTA) is one of the major cryptocurrencies backed by blockchain technology which records transactions between devices linked with IoT (Internet of Things). It relies on a directed acyclic graph (DAG) system, which makes the transactions on this platform anonymous and completely decentralized.

Current Statistics-

IOTA

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  • IOTA (MIOTA) is the 16th largest crypto coin in the global crypto market.
  • The ROI of IOTA coin stands at negative 54.47%.
  • A total of 2,779,530,283 MIOTA are in current circulation.
  • The market cap as on 08th May at 07:34 UTC stands at 807,792,987 USD.
  • The value of each coin stands at 0.290622 USD and 0.00004942 BTC.
  • The current 24h volume at the same UTC stands at 15,224,846 USD.

Comparison-

IOTA started with a moderate 0.35 USD right after the crypto winter’s effect. After a short stint of an uptrend, the coin grew negatively in the market. However, the highest growth was achieved after the 1st April market boom. And the current phase of IOTA is under price correction stage. The market cap on 8th April was 987,131,470 USD, and the value of each coin was 0.355143 USD and 0.00006768 BTC. The current market cap is 18.16% less than the market cap of 8th April and the value of each coin has deflated by 18% in these 30 days.

The 1-day value of IOTA has seen three major ups and downs. The range of IOTA stays at 0.29 USD and 0.28 USD.

Prediction-

Recently, there has been news of major American automobile company visiting IOTA’s Industrial Lab Aachen (IILA) for potential proof-of-concept discussions. Before this, Jaguar Automobile Company has already declared that it would create a digital wallet in association with IOTA. These stories have definite positive bearings on the IOTA’s growth story. The value of each IOTA coin is to rise further. The next resistance will be there at 0.35 USD. By the end of 2019, the value should be passed 1 USD level. And by the end of 2020, the value should go past 10 USD.

Conclusion-

We advise the short term investors and medium-term investors to buy at the current value. This will give good leverage in the next few weeks. Holding the coins until 2020 will give the investors a huge gain by 10 times the current investment.

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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