In the recent past weeks, cryptocurrencies have experienced huge dips and IOTA was not spared. However, the prices have found a way to stabilize every time they fall. At the moment, IOTA is trading at $2.7 from its highest, $5.55 early in December 2017. Despite that, it is hopeful that the price of IOTA will hit its all-time highest come mid-2018, this year. It could go up to $8 or more come June this year. For a long-term prediction, at the end of the year, it may increase to $20 or $30. How real is this? What will necessitate such a rise?
If history is anything to go by, then IOTA is definitely hitting new highs this year. It started off at 40 cents during its ICO back in June 2016. On its first day, it ranked as the 7 th best cryptocurrency which is impressive. It came from nowhere and even soared past Ripple, last month. During that short period, the price has risen from 40 cents to $5.55 before the sharp dip. If it maintains the same trend, then it will go above and beyond $8 by June.
At only $2.70, you can buy IOTA and hold. Investors are attracted by coins which have low prices. This way, they will be able to buy more, hold and then wait for the price of the coin to go up. IOTA is in that position and many investors will come in to buy.
Unlike Bitcoin, it does not run on the blockchain technology. It uses a blockless distributed ledger innovation known as Tangle which is highly scalable, unlike the blockchain network. This makes it easy to transfer money or make transactions at no cost within the network. IOTA is the first cryptocurrency that offers M2M (Machine-to-Machine) real-time payments which enables secure, efficient, real-time transactions at no cost. Being the decentralized open-source cytprocurrency to serve specifically the Internet of Things it unrolled the whole ecosystem based on blockless blockchain.
This is another thing that will make the digital currency a huge deal for investors. The fact that they do not have to pay any fee to transact, acts as a real game changer. This will play a huge role in the success of the token in terms of the price increase.
None of the current cryptocurrencies are able to provide real-time micro-transactions as most of them are based on blockchain which is related to Etherium and Bitcoin development. These blockchains are not scalable enough to cater to a huge number of transactions per second while maintaining infrastructure that runs on lightweight hardware. And, at the same time, there are transaction fees involved.
Late last month, IOTA released the new UCL wallet which is known as the Trinity wallet. This has seen the increase in speed of the confirmation of transactions. This wallet had been much anticipated by those who held the coin and potential investors. It makes transactions fast and also improves the reliability of Tangle which could see investors drawing their interest in IOTA.
With the above analysis, my opinion is, if you already have IOTA, hold, and if you are contemplating on buying, buy and then hold.
To sum up, I would like to point out the three major advantages of IOTA that make it one of the best investments for the coming year: