While IOTA seems to be a promising and fairly affordable new cryptocurrency, you must understand that investing in cryptocurrencies, in general, can involve a lot of risks. So far, on early hours of Tuesday trading, IOTA traders appear to maintain their bullish sentiment.Īs the 4th point of the IDDA, you must calculate your risk tolerance before deciding on the investment strategy that is suitable for your portfolio. However, as the word gets around, more and more traders could jump on the IOTA train and therefore push the price to new highs above $3. Setting the resistance level at the all-time high of 2.93, we could see a pullback towards the 23% or perhaps even 38% Fibonacci retracement levels of 2.31 and 1.93 as the market bulls lose steam and turn into profit-taking. While crowd psychology is a bit wilder in cryptocurrencies in general, comparing to other financial assets, let’s still take a look at the technicals to see if this new kid around the block could fit your portfolio. In the process, IOTA should at least make it above the resistance at 1.0550 to indicate further ascent. Looking for cryptocurrency strategies and signals? Join Premium Investing Group IOTA Technical Analysis The cryptocurrency saw a spike on Sunday evening, and on Monday it briefly reached 2.93 versus the USD. He might very well be right, as we also focus a lot of our portfolio assets on companies that focus on data. The surge appears to be linked to the announcement of IOTA’s partnership with a bunch of corporate heavyweights, including Microsoft, Samsung, Cisco, and Volkswagen on a “data marketplace.”ĭavid Sonstebo, IOTA’s co-founder and CEO, said data is “the new oil,” and that the marketplace project is letting firms sell data to incentivize them to share this data that would otherwise be wasted. Stay up to date with the latest IOTA price movements and forum discussion. As of December 4th, it’s trailing behind Bitcoin, Ethereum, Bitcoin Cash, and Ripple. Live IOTA prices from all markets and MIOTA coin market Capitalization. This week, IOTA stormed to the fifth largest market cap. The cryptocurrency has been available for traders since Jun 2017. It is scalable, lightweight and for the first time ever makes it possible to transfer value without any fees. It labels itself as the next generation blockchain. The main innovation behind it is the Tangle, a revolutionary new blockless distributed ledger. IOTA Foundation is a German non-profit firm that oversees the virtual currency. Should you add this new kid around the block to your portfolio? Read on! In only two days, a little-known cryptocurrency called IOTA doubled its price and stormed to the fifth largest market cap.
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