IOTA’s potentials if concerned, then, the list is unending. Still, the question arises- Why is it suffering so much for the past few weeks with no sign of bullish trend? The answer is simple and has already lead to hopelessness among the crypto investors and enthusiasts. The nature of BTC has turned so erratic and turbulent that it is making sustainability of all other altcoins miserable and IOTA is one of them. Despite launching its network upgradation, Coordicid to remove centralized network coordinator and announcing that it will soon be developing ways to make TEXAS a smarter city, it is still getting declined day by day. This is upsetting.
The 5-day chart of IOTA pinpoints the miserable condition of its values. There is no hope of positivity indicated here instead, a sort of disappointment has been ushered to those who were willing to splurge on IOTA this year. The high rate of fluctuations is now exhibited by IOTA, for, the moment it is getting raised, the next moment it is being shattered down. On 7th June, it had been traded at the peak of 0.4582 USD, but on 9th June only, its value declined to as low as 0.3961 USD. So, the decline in its prices is very high within 2 days only, and it also indicates a partial loss of momentum towards the bearish zones due to no effective support levels at present. It’s a fact that IOTA has recently gained momentum towards its bearish zone only. Within 5 days, the value of IOTA has been reduced by 6.04%. Based on all these facts, we think that in the upcoming days, IOTA can trade around 0.4250 USD if it continues its motion in the falling range.
The condition of IOTA is attaining no better position but gradually declining day after day, which is ruffling. So far sustenance of IOTA in this great volatile market is concerned, no one can give any real hopes. It may not become, but it is prone to lose a significant amount of its values to BTC this year. So, no sort of investment on IOTA as of now is a good idea.
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