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Iota Price Summary
The Iota cryptocurrency was trading at $0.23, with a market capitalisation of $645,865,677 at the time of writing. This relatively new cryptocurrency exploded onto the market in 2017 and has since had many market highs and lows. In the year 2020, indicators have been pointing to Iota making further upward swings.
Since its inception in 2017, Iota has been making waves. This digital currency has been trading much lower throughout 2020 than it’s all-time high of $5.79. However, Iota has been displaying some recent price growth and is expected by many enthusiasts to continue to rise.
It is advantageous to remember that cryptocurrencies are volatile, and this includes Iota. Traders and investors can use this volatility as a potential entry point into the market. However, it is essential to remain aware of price changes as these can change quickly and unpredictably.
Iota Price History
Iotas price has, like many cryptocurrencies, varied since the favourable market conditions of 2017. Iota entered the market in a storm of speculation. Unlike many others on the market, this revolutionary altcoin led many to wonder just how high it could go. Unfortunately, the hype surrounding the coin didn’t last long, and the digital currency has had a trying few years. The year 2020 has seen some growth for for the token, and there is certainly potential for its developing price to soar.
In January of 2017, Iota entered the market with a trading price of roughly $0.16. Before the year’s conclusion, Iota was trading so strongly that it reached an all-time high of $5.79. Soon after, though, the crypto bubble burst, and Iota experienced steady decreases in value.
Additionally, In September of 2017, Iotas price plummeted following revelations from Boston University and MIT researchers. These researchers claimed to have discovered a cryptographic vulnerability that lay in a patch of the Iota code. This negative press coverage caused Iota to lose more than 20% of its trading value in less than 24-hours. However, Iota responded quickly and fixed the patch error immediately. This inspired confidence in traders and investors alike, helping Iota to maintain a relatively positive market position during this time.
In 2018 the closing value was $0.20 per coin. This translates to a drop of more than 90% from its all-time high. However, in 2019 Iota again began to rise, and the asset managed to double in price to a local high of $0.50 per token. In late 2019 Iota, however, set another new bear low and came in at $0.14. It is worth noting at this point that these facts do not take away from the immense potential that this digital currency has.
Markets are always going to be volatile, which is why risk management is important. The good news is that in 2020, Iota is stabilising around the $0.23 price mark after a low of $0.07. This low is attributed to the black Thursday event that occurred in March of 2020. Iota is predicted to rise again and potentially be stronger than ever in the years ahead.
As can be expected, the coronavirus pandemic has affected Iota. Unlike fiscal trading investments that have been negatively impacted by the pandemic, this cryptocurrency would seem to be prospering. Due to Iota encompassing a distributed ledger technology system, it is more insulated from what is happening on the 2020 global macroeconomic environment.
Digital assets and the DLT they are built upon have increasingly become an attractive alternative to traditional economic and financial systems. As a result of this, more traders and investors are turning to Iota, which is in turn, positively contributing to the entire crypto sphere.
Iota Price Prediction
When looking into future price predictions for Iota, it is vitally important that you remember to analyse emerging developments carefully. To succeed in crypto market trading, it’s essential to always practice responsible trading habits and conduct risk analysis assessments.
Looking into Iotas 2020 price predictions and beyond requires examining possible factors that could influence its trading price. Expert opinions, global circumstances, and technical analysis tools should be utilised when predicting future prices for this digital currency.
Due to Iota being a relatively new addition to the crypto space, it does not have as large an expert base when compared to other altcoins. However, this does not mean that there aren’t any experts discussing Iota’s potential; far from it. Several groups and respected individuals are suggesting that Iota could reach as high as $0.446 before the year is out.
Iota Price Analysis
The global pandemic has had a significant impact on Iota, as mentioned before. This global crisis is going to be here for the long term rather than the short term. Iota, therefore, has the potential to continue attracting investors and traders alike. This can be seen already with the digital currency rising from its bear market low and now displaying bullish tendencies.
If we look at technical analysis graphs, it can be seen that Iota has formed an enormous falling wedge pattern at weekly time intervals. This is providing clues to realistic positive price movements. Falling wedge charts are strong indicators of bullish patterns as they show the potential for new price highs.
Many indicators are displaying that Iota has the potential to continue its price growth into 2021 and beyond. Many technical analysis charting tools predict potential growth to continue within the timeframe of the next five years. Between 2021 and 2025, experts are predicting that the Miota coin could move anywhere between $0.51 and $1.34. There are even optimistic predictions pointing towards Iota potentially reaching new all-time highs.
Expert Tip on the Price of MIOTA
By 2025, it is estimated that there will be more than 41.6 billion connected IoT devices. The market continually matures, and as such, IoT is increasingly becoming the component that enables the exchange of information between people and processes. Iota’s technology is becoming an integral part of a digitalised world, now and in the future. At the moment, automotive and industrial equipment represents the largest opportunity for using IoT devices. Potentially, soon there will be a strong adoption of IoT devices in the household and as wearable accessories. Let us also not forget the endless capabilities in the video surveillance and drone sector. The future relevance of this digital asset could be very bright indeed.
The Iota project was established in 2015 by Sergey Ivancheglo, David Sontesbo, Serguei Popov, and Dominik Schiener. Iota was officially launched in 2017 when it made its market entry. This cryptocurrency is unique because it doesn’t use blockchain technology in the same way as Bitcoin and Ethereum. Instead, Iota uses a Directed Acyclic Graph (DAG), which is named “Tangle.” Iota aims to solve critical scalability and performance issues that affect other cryptocurrencies.
In essence, Iota is decentralised and specifically designed to operate on the internet of things devices. This cryptocurrency further aims to monetise the useful data stored in smart devices such as smart watches and weather trackers. Iota uses a directed acyclic graph to facilitate large amounts of transactions and, as such, does not run into scalability problems and maintains the need for no transactional costs.
Iota has many innovative use cases coming to fruition. For example, the Taipei smart city where the Iota foundation is set to begin testing its tangle network to transform the capital into a smart city. Iota aims to do this through tangle ID verification and by using the system to monitor air pollution. Company Elaadnl is also using Iota’s tangle network. The company has developed a working prototype in smart charging using Iota’s technology as a foundation for the design.
Iota is helping to pave the way for the future of cryptocurrency technology. It’s capabilities are vast, not only as a cryptocurrency, but also as a technology. Investors have been drawn to future potential of Iota, and more are sure to follow in years to come.
Iota Value Compared to Other Cryptocurrencies
Yes, should market trends remain bullish, then investing in Iota should turn a profit. Some experts go as far as to say that Iota is one of the best technological platforms available in the cryptocurrency sphere.
Cryptocurrencies are notoriously volatile, and so nobody can give a definite answer as to if it has a future. However, predictions are stating that Iota is going to stick around for the long term. Iota has a lot of potential and could be an excellent investment opportunity.
No, you cannot. Iota works with a Directed Acyclic Graph (DAG).
The amount of Iota coins in circulation, developments to its network, world events and the creation and integration of more IoT devices can all influence the price of Iota.
Iota’s primary focus is the Internet of Things; it does transactional settlements and data integrity really well-using machine to machine technology. Iota has the ability to give you ownership of the data collected by your Internet of Things devices, enabling you to monetise it.
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