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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.
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