IOTA (MIOTA) Price Prediction and Analysis in April 2020

We will be looking into some of the past prices and market projections for MIOTA in order to develop an IOTA price prediction for April 2020.

IOTA Overview

IOTA (IOTA) platform was developed to facilitate communication with the Internet of Things. The distributed ledger is not based on blockchain, as it uses a directed acyclic graph (DAG).

This graph, called Tangle, is a quantum-proof protocol that was created to provide “zero fees, infinite scalability, fast transactions, and secure data transfer” to MIOTA transactions.

MIOTA is currently ranked 24th, according to a market cap of $435,877,048, with a circulating supply of 2.779.530.283 MIOTA out of a total of 2.779.530.283 MIOTA. In the last 24 hours, $9,537,075 worth of MIOTA coins were traded, and the current price is $0.156817.

IOTA Price Prediction: Analysis

On March 12^th, IOTA also crashed from $0,195079 to $0,113098. The next day, the coin plunged even further to a new low of $0,079620, but it recovered back to $0,130333 towards the end of the day. Until March 16^th, the coin fluctuated around the $0.13 level, with minor dips to $0.12 and touching the $0.14 resistance briefly. On March 17^th, the coin went below $0.12 support levels, reaching $0,110250, but traded between $0.11 and $0.12 in the next couple of days. On March 19^th, IOTA broke a new resistance level of $0,174578 and closed the day at $0,169805.

Source: FXstreet

The coin slowly descended towards the last week of March, getting down to $0.13 again, but on the last day of the month, there were some signs of a bullish trend, as the coin closed at $0,155487. Up until April 5^th, IOTA was trading sideways, between $0.14 and $0.15. Starting from April 6^th, IOTA broke the $0.16 resistance, and it later succeeded in surpassing the $0.1720 level on the 8th of April.

Source: Cryptopolitan

The pivot, resistance, and support levels calculated by WalletInvestor are:

• Resistance Level (R3): 0.187
• Resistance Level (R2): 0.180
• Resistance Level (R1): 0.177
• Pivot Point: 0.170
• Support Level (S1): 0.167
• Support Level (S2): 0.160
• Support Level (S3): 0.157

Developments

On April 3^rd, IOTA announced that the first alpha version of IOTA Streams had been rolled out for testing. Initially, the technology was called MAM (Masked Authenticated Messaging), but the IOTA Foundation renamed it to IOTA Streams.

IOTA Streams encrypts messages via NTRU (Public Key Encryption) and PSK (Pre-Shared Key), and it allows both authenticity and confidentiality on an original apmi.bsu.by implementation and specification.

blog.iota.org

It also revised and bettered the control of the messages:

In MAM v0, the message format was fixed, and if your use case required different message structures, you needed multiple channels for each structure. For example, you may have different message types for monitoring messages and alert messages. In IOTA Streams, you can publish both in the same channel, and applications that read the messages will distinguish them based on their specific headers.

On April 7, the IOTA Foundation was approved by the board of TMEA and has been made a strategic partner. TradeMark East Africa (TMEA) is a reputable organization dedicated to improving trading conditions. The collaboration enables IOTA Foundation to work with TMEA and improve the management of data via the use of Tangle.

On March 12^th, the founder of IOTA, David Sonstebo, stated that he would reimburse the $2 million lost in the Trinity hack from his own funds in order to “safeguard the IOTA Foundation’s runway” over the next 12 months.

The IOTA network was forcefully suspended in April after hackers took more than 8.5 million MIOTA. The network was reinstated back online again on March 11^th, with more than 100,000 value transactions processed at a rate of 80 to 90 transactions per second.

Regarding the hack, the founder said :

“We continue to work with the FBI, as well as the UK, German, and Maltese police to identify and track the attacker. With the restart of the Coordinator, we are together actively monitoring for any suspicious activity.”

“We are very cognizant of our runway and we spend very responsibly; of course, when the token price or the crypto market as a whole has been in such a bear market it’s definitely been on our mind from time to time. It’s not like we’re in any panic mode or desperate, but we are taking the necessary steps [such as by] using my own personal holdings, rather than the foundations’ holdings,” – Sonstebo said.

Although Sonstebo pointed out that the foundation was “well-funded at the moment,” the project will diversify its revenues and establish new ventures to break their dependency on the endowment fund.

Dominik Schiener, the foundation co-founder, revealed that IOTA “regularly gets grants from governments,” this year receiving four. The governments, the amount invested, or what they were funding were details not revealed. Sonstebo also said that some big corporates who “are paying for the development of the joint ventures” are also investing funds in IOTA.

“I believe we will, by the end of this year, be sustainable without the token endowment being touched.”

“In the long term, over the next 12 months, we hope that the majority of our costs will be covered by grants and revenue streams, but at the moment right now it’s just important that over the next month we continue without any disturbance or any concern about the runway.”

“While the IOTA Foundation is well funded at the moment, we still have a long road ahead,” concluded the founder.

IOTA Price Prediction: Market Opinion for April 2020

As there are a number of crypto sites that have made their own IOTA price prediction for April, we have decided to include some of these forecasts to help you get a better feel of the market sentiment for MIOTA.

Cryptoground

Cryptoground projected that, in one day, IOTA will be trading at $0.4435, with a growth of 44.85%, and in one week, MIOTA will move to a price of $0.4327, which signifies an increase of 41.32%.

Coinpredictor

Coinpredictor estimated that in April, the price of IOTA will drop by 5.6%, which will bring the coin to a price of $0.418853.

WalletInvestor

WalletInvestor’s IOTA price prediction covers the next 10 days of April, as well as their maximum and minimum daily prices.

Digitalcoinprice

Digitalcoinprice expects that this month MIOTA will be trading at $0.31608821, change for April 83.1%.

Gov.capital

Gov.capital estimated that IOTA will be trading at $0.161 towards the end of April, with the highest possible value of $0.162 and the lowest possible value of $0.159.

Altcoinforecast

Altcoinforecast forecasted that IOTA will have a closing price for the month of April of $0.17.

Longforecast

Longforecast predicted that the maximum value for this month will be $0.22 and the minimum price – $0.14. The month’s average price was estimated at $0.17. IOTA’s closing price for the month is $0.19, change for April 35.7%.

Bitverzo

Bitverzo projected that on April 30th, IOTA would have an average price of $0.305239, with a minimum of -0.905921 and a maximum value of $1.489673.

IOTA Price Prediction: Verdict

This has been our IOTA price prediction for April 2020. We hope that the data and brief analysis we provided will prove useful to you in your upcoming trading ventures with MIOTA.

Featured image: revistasumma.com

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