The condition of the crypto market has turned worst currently. It was depressing from the past few weeks, but recently the situation is so demotivating that hardly investors are getting any positive vibes regarding investing on any crypto. In spite of making partnerships with global giants like Cisco, Samsung, and Volkswagen, IOTA is not able to spike up its value, and it is continuously depressing down. Whereas, IOTA is a great alternative option against cryptocurrencies with blockchain technology as it has its fantastic Tangle technology. So, all these facts are indicating an undeniable truth that no matter how much potential crypto has but due to intense volatility, the majority of its good initiatives will be ruined.
The 5-day chart of IOTA represents the intensity of its liquidity. It is hardly able to retain its value in the bullish ranges, and even if it is trying to do so, due to no support levels, it is dropping down aggressively. On 5th June, it had traded at 0.4365 USD, which seemed to be a bull value, but it again declined at a sharp rate. It is better to say that more IOTA is trying to spike up its value, the more frequently, it is getting deteriorated. For instance, on 7th June, it had raised to 0.4579 USD, but it eventually dropped to 0.396 USD with the end of the weekend. Currently, it is trading in the bearish zone only. The chart also indicates that IOTA has substantially lost its value within a concise, and it is subjected to be the same even in the upcoming days as well. The intense volatility and due to the absence of any support level, it is tough for IOTA to increase its momentum. Within a span of 5-days, the value of IOTA has substantially reduced by 9.17% from the price of 0.457 USD to 0.396 USD. Considering the facts, we think that in the upcoming days, IOTA can trade around 0.4400 USD.
Undoubtedly, IOTA is a potential cryptocurrency. It is trying hard with its abilities to spike up its value. But as mentioned earlier, nearly all altcoins including IOTA have to bear with their misfortune as they will be on the verge to lose their worth to a great extent to BTC in the upcoming days. It is entirely a futile idea to think of investing on the same currently. The best approach is to wait until the volatility subsides to a great extent for long term gains.
Ahead of the launch of Bakkt’s Bitcoin (BTC) futures, bears have continued to assert control over the cryptocurrency market. Ouch.As… Read More
One of bitcoin and crypto's oldest proponents, the founder and former chief executive of U.S. online retailer Overstock, Patrick Byrne,… Read More
A pair of researchers have released the results of a formal verification of bitcoin’s lightning network.Lightning is new(ish), experimental, and… Read More
Often considered as a nascent technology, blockchain was introduced about a decade ago. Although the technology has not been around… Read More
Kate Winslet has spoken out after her image was used to advertise a Bitcoin scam Movie star Kate Winslet is… Read More