The crypto enthusiasts are repeatedly informing traders and investors to currently not think of investing in any altcoins due to the devastating condition of the crypto sphere. It’s better to say that until there is any sign of improvement noticed in the values of a potential altcoin like IOTA. Instead, it’s much better to say that it is getting tougher for IOTA so far its sustenance in this intense, volatile market is concerned. IOTA (MIOTA) is making an eminent headline recently due to the launch of Aigarth project which is a software that will run on computers of people who want to give away spare computational power to find solutions related to AI-related activities. In spite of making this innovative attempt and having quite a satisfactory customer base, the values of IOTA is getting deterred day by day.
- Price in USD: 0.4207 USD (08:33 UTC)
- Price in BTC: 0.00005324 BTC
- Market cap: $1,175,970,554 USD
- Market rank: 15
- Circulating supply: 2,779,530,283 MIOTA
The 5-day chart of IOTA is strongly indicating how much IOTA is prone to fall more in the bearish zone. Even though it peeps up a little above the bearish trend, due to no support level, it is hardly able to stay up in safe zone even for a while. For instance, on 7th June, IOTA had traded at 0.4580 USD, though it tried to maintain its bullish values in spite of getting fluctuated randomly. On 9th June, it was traded in bearish zones most of the time, and yesterday only it hiked up a little when it got traded at 0.4333 USD. This indicates complete loss of bullish momentum of IOTA due to which it is continuously dipping down in the ruffle zone. So, within five days, the value of IOTA has substantially reduced by 8.14%. Considering all these facts, we think that in the upcoming days, IOTA can trade around 0.4200 USD to 0.4225 USD.
In the concluding note, it is obvious enough to say that even short-term investment on IOTA can incur a high loss to the investors as of now. It is also a fact that IOTA is making striking development, which is sufficient enough to impress its users. But simultaneously, it must not be forgotten that fate of an altcoin like IOTA is much in the hands of the market volatility and of course on erratic nature of BTC due to which many of its great projects can fail down crushing.