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IOTA (MIOTA.X) price analysis: the bull and the bear case (February 2019)
IOTA (MIOTA.X) is trading at $0.28, down -2.05% in the last 24 hours. IOTA is known for its "blockless" Distributed Ledger Technology (DLT) technology called Tangle, focused on machine-to-machine communication, Internet of Things, data marketplace, and shared economy. IOTA represents the next generation of DLT.
When it comes to investing in IOTA, these are some frequently asked questions:
- Is IOTA currently a buy or a sell?
- Should I sell or hold IOTA today?
- Is IOTA a good buy/investment opportunity?
Here are the reasons to buy IOTA (the bull case):
1. IOTA has successfully resolved scalability issues through Tangle and DAG. The overall performance of the network is set to improve with the growing number of users.
2. A key reason why investors are attracted to IOTA is its technological advancement and a seamless integration with Tangle that enables various use cases across numerous industries in the areas of machine-to-machine communication and Internet of Things.
3. IOTA counts a great number of promising partnerships such as those with Volkswagen and BOSCH. Volkswagen and IOTA are set to launch a working product powered by Tangle in 2019, called Car ID.
4. IOTA transaction times will be gradually reduced with a growing user base. Micro-transaction fees on IOTA are low or non-existent.
Here are the reasons to sell IOTA (the bear case):
1. IOTA still has a low rate of adoption in contrast to its crypto peers; the time it takes to verify transactions is still not at a competitive level as the network needs more users in order to cut processing times for value transfers.
2. Compared to 51% of hashing power needed for a successful attack on the Bitcoin (BTC) network, IOTA attackers would need only 34% to breach the security and harm users.
IOTA recovery: more likely to occur than before
IOTA (IOT.X) is trading at $0.42, up 2% from yesterday. With a crypto market recovery underway, IOTA has found a strong support in the 40 to 50 cent zone. The IOT/USD pair is currently showing a bullish trend.
IOTA is an ambitious digital currency project that doesn't use the blockchain design. It stores transaction data in a blockless distributed ledger, which plays a pivotal role in the elimination of transaction costs and processing time reduction.
IOTA has garnered strong interest in the business community: IOTA triangle is in high demand. Over 600 organizations have expressed their interest in it, according to the founder David Sønstebø. One of the target verticals for IOTA's implementation is the automotive industry.
IOTA has inked a significant partnership with Audi, which will allow Audi car owners to choose their insurer depending on real-time data. Car owners will be able to switch their insurance company based on where they drive and park their cars. The technology will allow drivers to find the cheapest rates available.
The IOTA foundation is working to release more thorough technical documentation and guides for creating a marketplace which could redefine ownership trust and values.
However, the lack of third-party integrators for IOTA is a significant barrier to its global adoption. Currently, any of the applications or use cases require coding, which could be an obstacle for certain parnters.
Currently, IOTA is in the 9th position on the list of top digital currencies based on its market cap ($4 billion).
What is the near-term price forecast for IOTA? Here are the major technical indicators:
- MACD of IOTA is currently in the bullish zone. MACD (moving average convergence divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of prices. MACD is calculated by subtracting the 26-day EMA (exponential moving average) from the 12-day EMA;
- RSI (relative strength indicator) is hovering around 40, but still in the neutral zone. RSI compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security;
- A new major support level is forming at $0.40;
- A new major resistance level is forming at $0.46.
IOTA has finally recovered, but what's the price forecast?
IOTA (IOT.X) is trading at $0.58. It's down 25% from its recent peak of $0.77. The IOT/USD pair is moving in synch with other important digital assets.
Currently, IOTA is the 11th largest altcoin by market value. Its market capitalization is $1.6B. 44% of all the IOTA trades are on BTfinex, forming the most actively traded cryptocurrency on this crypto exchange.
There are some positive developments for IOTA. It announced a partnership with ENGIE Lab CRIGEN. This lab is one of the largest tech companies in Denmark, with a sizeable research center that focusses on the gas and energy segments. The partnership will bring the blockchain technology and energy ecosystem together, leading to the development of a smart IOTA Tangle and IoT domains.
IOTA has also initiated a partnership with Volkswagen for developing a decentralized solution for vehicle manufacturing data transfer. The Digital CarPass will be launched in 2019. It will ensure reliable and secure data collection for vehicle maintenance and efficiency improvements.
What is IOTA's price forecast? Are there any chances of a bearish crash again? Here are the major technical indicators:
- MACD is in a bullish zone. MACD (moving average convergence divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of prices. MACD is calculated by subtracting the 26-day EMA (exponential moving average) from the 12-day EMA;
- RSI (relative strength indicator) is in the positive zone, hovering around 50, which indicates that selling has subsided. RSI compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security;
- A new major support level is forming at $0.60;
- A new major resistance level is forming at $0.54.
11 best cryptocurrencies for August 2018
After a significant dip in the second quarter of 2018, cryptocurrencies are becoming popular again among retail investors, appearing in the mainstream media headlines every day. There are a few cryptocurrencies that have grabbed investors' attention. What are the best cryptocurrencies to invest in in August this year?
Before we share with you our top 11 list, here is our little hack: use the cryptocurrency investment idea tool to stay up-to-date on the best investment opportunities in the altcoin space.
Bitcoin is by far the most popular cryptocurrency today, garnering a plenty of investors' attention. We think Bitcoin may be a good opportunity to invest in now because:
- It is the most established cryptocurrency.
- Stock market volatility and political uncertainty are good for Bitcoin. In general, political unrest is not good for the stock market, because its value is tied to established companies that depend on government services. But given the political climate across the world, and decreasing faith in government institutions, Bitcoin is becoming increasingly more popular.
- It's easy to invest in it: investing in Bitcoin is as simple as buying a stock on an online exchange. You can use also a zero-cost brokerage such as Robinhood to do that.
Stellar is also based on the blockchain technology. It connects banks, payments systems, and people with a goal to move money quickly, reliably, and at little or no cost. Here are the main reasons why one should consider investing in the cryptocurrency now:
- Stellar offers low-cost transactions and accounts. 1 USD will cover about 400,000 transactions, and there are various licensed exchanges where Stellar Lumens can be purchased.
- There is a good market opportunity for the cryptocurrency as Stellar is the first distributed ledger protocol which received Sharia compliance certification in the money transfer and asset tokenization space.
- Security is one of the main focus areas for Stellar, and the company solved security-related challenges in a very creative and effective way. Stellar's nominal base fee, paid by transaction initiators, deters malicious attacks that can flood the network. Whenever there is a suspicious account submitting transactions, this base fee increases.
Stellar (XLM.X) is trading at $0.27, down by 0.75% from yesterday.
IOTA has a market capitalization of $2.5 billion USD today. It focuses on the emerging machine-to-machine (m2m) economy of the Internet-of-Things (IoT) and other applications where a scalable decentralized system may be warranted.
Unlike other cryptocurrencies that are based on the blockchain technology, IOTA makes use of its unique infrastructure known as Tangle. We think IOTA is a good investment opportunity now, because of the following reasons:
- It has good scalability, no-fee transactions, and no blocks. It targets the up-and-coming market opportunity called the Internet of Things (IoT), which could reach more than 1 billion transactions by 2020, thus necessitating a secure, cheap and scalable micro-billing mechanism for everyone.
- Its partnerships with the mainstream companies such as BOSCH, Volkswagen, and Porsche seem to be very promising.
- It can be easily bought in a hasslefree manner using many exchanges (e.g., Coinhako). With the growth in the ecosystem every day, buying or selling IOTA will become even easier.
IOTA (IOT.X) is trading at $0.91, down -2.8% from yesterday.
EOS is one of the most used blockchains in the world today. It has a market capitalization of $6.3 billion USD.
EOS is a blockchain project that enables horizontal scaling of decentralized applications, allowing developers to efficiently create high performance distributed applications. It is a good investment opportunity because:
- It is simple to use, and accounts are easily recoverable in case of security breaches. This is very helpful for the mainstream public that doesn't have much experience with private keys and account security issues.
- The EOS network is pretty efficient with handling volume bottlenecks on high transaction days.
- EOS has zero transaction fees. When a smart contract is executed, EOS requires the user to stake tokens which are returned back to him or her after the execution.
EOS (EOS.X) is trading at $7.04, down by 3.68% from yesterday.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference. It is one of the most promising coins in the crypto world and one of the best long-term investment choices for crypto investors because of the following reasons:
- Since many Initial Coin Offerings (ICOs) intend to release their tokens on the Ethereum network, its price is expected to appreciate over time.
- It has the potential to transform the financial system just like Uber and Airbnb did in their own industries. The Casper and Sharding technologies depict significant milestones in its development.
- A decreasing trust in the traditional financial markets is prompting traditional investors to look into the most established cryptocurrencies such as Ethereum.
Ethereum (ETH.X) is trading at $418.08, down by 1.82% from yesterday.
NEO is the first Chinese cryptocurrency to be globally accepted. Founded in 2014, its mission is to reinvent the way commerce is done.
NEO entered the top 15 coins by market cap and its capitalization is north of $1.7 billion today. We consider it to be a good investment option because of the following reasons:
- NEO is not just a cryptocurrency, but also a project that helps in the creation of digital assets, smart contracts, and other applications on its blockchains.
- In the NEO platform, a straightforward transfer of shares, equity, and assets is possible because users are able to issue and trade assets. In order to prove an asset's ownership, tokens are distributed.
- The platform is powerful enough to process 10,000 transactions per second, so there is virtually no transaction latency. This capability attracts a huge number of partners from all over the world, besides China.
NEO (NEO.X) is trading at $29.19, down by 2.89% from yesterday.
NEM is a blockchain built for enterprise-grade performance. Here are the reasons to invest in NEM now:
- Compared to Bitcoin, NEM has more real-time case uses.
- It is the best option for portfolio expansion. No programming knowledge is needed to use the platform as it is quite user-friendly.
- With cryptographic signatures, NEM is capable of acting as an authentication and notary-type service. It is targeting the retail industry with its blockchain technology. The customers' loyalty points can be converted into money which would reduce the shortcomings such as mistakes in the loyalty points program.
NEM (XEM.X) is trading at $0.16, down by 2.08% from yesterday.
It is one of the popular cryptocurrencies among the crypto traders. XRP offers banks and payment providers a reliable, on-demand option to source liquidity for cross-border payments. XRP consistently handles 1,500 transactions per second and can scale to handle the same throughput as Visa.
We consider Ripple to be a good investment option because of the following reasons:
- It is used in the real world today to enable high-speed and low-cost money transfers worldwide.
- Ripple is going to build more financial market partnerships in the upcoming period, which means its applicability will spread over time.
- xRapid, used for payment providers and other financial institutions that want to minimize liquidity costs, is gradually being adopted in the market. It can complete international settlements in a short span using XRP as a bridge currency.
Ripple (XRP.X) is trading at $0.44, down by 2.71% from yesterday.
It was created by Charlie Lee with the intent to make a lighter version of Bitcoin. Litecoin is a peer-to-peer currency that enables instant, close-to-zero cost payments to anyone. Here are the reasons why it may be a good investment option now:
- A Bitcoin transaction needs 10 minutes to execute, whereas Litecoin takes around 2.5 minutes. The transaction cost for Litecoin is smaller compared to Bitcoin: $0.23 vs. $2.83.
- This digital currency can be bought easily. Because of its popularity, it is traded on Coinbase (the top digital currency wallet and exchange).
- Litecoin was the first crypto asset to be traded on eToro. It's potentially on the upside because of its robust usage, evidenced by the number of active addresses per day.
Litecoin (LTC.X) is trading at $77.47, down by 0.78% from yesterday.
10. Ethereum Classic
Ethereum Classic is the continuation of the original Ethereum blockchain, prior to the July 2016 DAO hack. Here are the reasons why it may be a good investment option now:
- Currently, Ethereum Classic processes 48,000 transactions per day and is soon expected to reach the 100,000 mark, upon being licensed on Coinbase.
- The Ethereum Classic Development Team (ETCDEV) has big plans around IoT, since Ethereum Classic has the most secure blockchain. There is a pretty decent probability that the company will capture a share of the IoT market. ETC's scalability will be enhanced after the inclusion of side chains.
- Its partnership with a South Korean exchange Zeniex will help ETC enter the Asian market per Memorandum of Understanding (MoU) signed between the two companies.
Ethereum Classic (ETC.X) is trading at $15.21, down by 5.26% from yesterday.
11. Binance Coin
Binance is one of the largest and most powerful cryptocurrency exchanges with a market cap of about $1.5 billion USD. Reasons for investing in Binance Coin include:
- Binance processes about 1.5 million orders per second and over $1 Billion per day. The company's native coin BNB has been the best performing coin since July 2017 (its inception time).
- The interface is user-friendly, so investors can enjoy a seamless trading experience.
- The Binance exchange is one of the most secure exchanges in the world, so the chances of a hack or malicious cyber attack are significantly reduced. Also, its stability provides assurance to its users.
Binance Coin (BNB.X) is trading at $13.61, up 1.11% from yesterday.
Over the last 30 days, BNB.X lost 3.43%, which is 24.08 percentage points lower than the 30-day return of Bitcoin (BTC.X).Do you want a daily updated view of cryptocurrency news, price analyses and speculations? Check out Finstead Bites, to get your scoop on cryptocurrencies and make your next bet.
IOTA price speculation: bears overpowering, despite meaningful commercial progress?
IOTA (IOT.X) is trading at $0.92, down -1.55% from yesterday. According to short-term and medium-term price charts, IOTA is having a tough time climbing higher.
What is IOTA's price forecast? How long will the bearish trend continue?
IOTA's price has been up and down recently. There is short- and medium-term resistance which the token is facing, which needs a lot of bullish momentum to break.
IOTA is a digital currency and network which is designed for use with the Internet of Things (IoT). It is the ninth largest cryptocurrency, thus remaining at the center of discussions and speculations.
IOTA is the first cryptocurrency to use an altered blockchain known as "tangle" in which the transactions are verified by other people posting them instead of miners. It has better security and faster processing times.
IOTA has grown through partnerships with companies such as Bosch, Volkswagen, Fujitsu, and Microsoft. After its partnership with Microsoft, its digital currency, the IOTA token, also known as MIOTA received a significant boost. Despite competition from other crypto-companies, IOTA continued to address the critical real-world use cases including e-government, smart cities, and public transportation.
A new chip known as IOTA's JINN chip is grabbing the attention of various companies. Vapers Coin is also going to establish its partnership with IOTA by the end of this year. These developments draw the attention of the cryptocurrency investors towards IOTA.
Here are the major technical indicators:
- MACD has entered the bearish zone. MACD (moving average convergence divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of prices. MACD is calculated by subtracting the 26-day EMA (exponential moving average) from the 12-day EMA;
- RSI (relative strength indicator) is below the 50 level, indicating the coin is oversold. RSI compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security;
- A new major support level is forming at $0.88;
- A new major resistance level is forming at 0.97.
IOTA price speculation: what can you expect?
It's been a wild ride for IOTA. The cryptocurrency hit a 1-month low on May 28 at $1.35 and then rebounded quickly, within a matter of days to $1.9. What is the IOTA price prediction or speculation?
Extreme optimists claim that the one-year forecast for IOTA is around $11. That's almost a sixfold appreciation compared to the current price.
Recent IOTA's price surge is very much attributed to the partnership with Norway’s largest bank and a key logistics arm for the United Nations.
But now that the price has come down, what do speculators think is the near-term prospect for IOTA?
Our technical analysis shows that $1.75 is a possible demand zone, but $1.65 - $1.55 is a probably a decent buy zone.
The momentum for IOTA remains positive. The project has gained a number of partnerships at a rapid pace, in addition to continued development releases. Tangle, IOTA's main business feature, is targeted at companies who are looking to make their processes and transactions more transparent and efficient.
The project’s focus on powering the Internet of Things infrastructure is key in gaining partners.
IOTA Data Marketplace, launched in the last quarter of last year, is creating waves in the market. The project managers recruited several large companies (e.g., Accenture, Fujitsu, Samsung) to participate during the initial beta phase. The Marketplace makes it possible to securely store, sell, and access data streams.
IOTA has successfully completed the initial phase of the project and now is seeking to connect organizations like the Nordic Semiconductor, which focuses on ultra-power performance wireless System-on-Chip (SoC).
We're optimistic about long-term prospects for IOTA; however, in the near-term, please exercise your caution.
For the latest information and news on IOTA, please visit Fintead and search for "IOTA price" or "IOTA news".