There is still plenty of uneasy momentum to be found across all cryptocurrency markets. This is primarily because there are still concerns over which direction will head in exactly. At the same time, the IOTA price shows a lot of promise, for the time being. A lot of money will be made throughout the day, albeit it remains to be seen when the uptrend will come to an end.
IOTA Price Shows Signs of Life
It has not been an easy year for the cryptocurrency markets throughout 2018. All currencies have lost tremendous value and struggled time and time again to turn things around.The second half of 2018, while initially promising, has not offered any relief in this regard. For IOTA, its value has plummeted significantly, as the current value is still down by over 80% compared to the all-time high.
In the past 24 hours, however, things have begun looking up. For the IOTA price, there is a net 3.5% gain in both USD and BTC value. That in itself shows there may be some further upward momentum during the remainder of 2018, even though there is still plenty of time to turn the situation on its head as well. For now, the gains need to be taken with a grain of salt, as the $0.5 level has been heavily contested for IOTA.
Some interesting developments behind the scenes may keep the IOTA price trend going for a while. Dominik Schiener, the co-founder of IOTA, will be speaking as a prestigious economic summit in Germany. He will also speak at the European Banking Congress. Both of these developments are pretty interesting, albeit that may not result in any IOTA price changes right away.
This week will be incredibly exciting for the #IOTA and #DLT community: Tomorrow I will speak at one of the most prestigious economic summits in Germany (https://t.co/oeYy9hqZGk #SZGipfel), and on Friday I will speak at the European Banking Congress (https://t.co/KCivMeSU27).
— Dominik Schiener (@DomSchiener) November 12, 2018
In terms of usability, IOTA’s technology is slowly starting to make an impact as well. BiiLabs unveiled its ID system based in IOTA a while ago. It now seems this system will be implemented in Taipei, as the city wants to become ‘smarter” in the coming years. It seems like a good fit for technology based on IOTA, although it remains to be seen how this will pan out exactly.
— Oblomov_WalterW (@Oblomov_WalterW) November 12, 2018
For those who simply want the “when moon?” talk, Crypto_moon is confident this current trend signals a major IOTA breakout. It is certainly true a pattern has been broken in quick succession, albeit it remains to be seen what the future will hold for this particular project. Considering how the altcoins tend to rise and dip in value quite regularly, there needs to be further confirmation prior to even considering an actual outbreak.
— Crypto_Moon (@findfinz_moon) November 12, 2018
For now, the momentum seems sufficient to keep the IOTA price above the $0.5 level. One has to keep in mind IOTA has a very big problem in the trading volume department right now, although that is something that can be rectified with little effort. Until that effectively happens, however, IOTA may not see any bigger gains. Finding stability would be a positive trend for any currency right now, given the circumstances.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.
None of the information on this website is investment or financial advice and does not necessarily reflect the views of CryptoMode or the author. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. Always conduct your research before making financial commitments, especially with third-party reviews, presales, and other opportunities.