In a universally disappointed cryptocurrency marketplace from an IOTA wallet owner’s perspective, certain cryptocurrency projects nonetheless stand apart from the rest. There are more than 2,000 active crypto projects at this date, and it’s that sheer weight of numbers that may be holding down crypto prices more than any other factor. So where can a crypto investor look for profits in a market full of redundancy, scams, and false hopes?
IOTA is a member of a limited class of blockchain sleeping giants that share one central trait: legitimacy. An estimated 71% of crypto ICOs are nothing more than an idea. With no product brought to market, these cryptocurrencies are vaporware. IOTA isn’t like this. With real partnerships, novel products, and proven technology, IOTA has a legitimate claim to future price hopes. This makes it all the more frustrating for MIOTA investors who still fail to see the returns they feel this project deserves.
Year’s End Price Predictions for MIOTA
The tools of technical analysis tell us, basically, that IOTA lacks the trading volume to break far beyond the $0.50 MIOTA mark it’s been hovering round for weeks. If anything, a long term downward trend can be observed, making $0.50 seem like less a support and more a glass ceiling.
MIOTA’s downward momentum is stubborn. It seems not to consider the implications of IOTA partnerships with Fujitsu, Bosch, and Volkswagen. Downward-sideways price momentum is typical of today’s crypto market, and it’s one way we diagnose the sentiment that underpins these price actions.
Today’s crypto investors got burned in the sudden bear trend of January and February. Many of these people bought when prices were at their highest, buying into FOMO (fear of missing out) only to see the floor collapse under their feet. Those who might have been ready to invest were unharmed but shaken. They saw a bubble in the moments before and after its bursting.
We believe that the market is due for an upward correction. IOTA has partnerships in multiple continents, and developing market interest points such as Latin America. Sooner or later, a market event is going to cause a top tier project like IOTA to suddenly rise in value. This is like to trigger similar price gains among other qualified projects in the market, such as Ethereum ETH, NEO, ICON, ARK, Elastos ELA, and (yes) Bitcoin BTC.
We can’t set a date to this correction, because the market has been so fully immune to good news as of late, but we wouldn’t be surprised if it occurred before year’s end. After all, MIOTA is trading at less than 90% off its all time high price. With more and better news coming each day, it seems the question is not if but when.
*Information in this article should not be taken as investment advice.
The post Price Predictions for IOTA (MIOTA) for the Rest of 2018 appeared first on The Independent Republic.
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