The crypto market participants are waiting impatiently for a market recovery while speculating through hundreds of digital assets. Today we’re taking a look at a coin with more than an iota of value. Is MIOTA worth investing in at low prices? And how low can it go?
It’s Invest Diva’s Kiana Danial with Cryptobriefing. The blockchain is one of the hottest buzzwords of the year, but today we’re going to talk about something different. IOTA is a cryptocurrency that doesn’t use a blockchain at all. Instead, it uses a particular ledger is called the Tangle. There’s no mining, and no fees, making IOTA potentially cheaper and more efficient than Bitcoin, Ethereum or other coins. But IOTA isn’t meant to be used for everyday spending. Instead, it’s designed for use by the Internet of Things, allowing smart cars and other devices to trade data and micropayments. For now, that’s still too good to be true, and IOTA currently uses a centralized coordinator node to keep the Tangle going. Right now, that gives the IOTA Foundation the ability to limit transactions and freeze funds. But that’s not going to last forever,
IOTA Foundation plans to remove the coordinator.
That “Coordicide” could complete IOTA’s transition to a decentralized ledger.
and the IOTA Foundation has finally announced plans to remove the coordinator. That “Coordicide” could complete IOTA’s transition to a decentralized ledger.
On the technical side, after breaking below the key pivot level of 42 cents back in November, the MIOTA/USD pair has slowly drifted down and appears to be aiming towards the all-time-low level from November 2017 at around 3 cents. The pair has remained below the Ichimoku cloud since May 2018.
Trading versus Bitcoin, it’s pretty much the same picture, although the MIOTA/BTC pair has a longer distance to reach the all-time lows. If the bullish momentum is back in the industry early enough, the pair may even bottom out at a more immediate support level at 0.000046.
Now I’d like to hear from you. First off, tell me all your fears and hopes about the Internet of Things, and how IOTA may play a role in making the IoT decentralized. Then, let me know if you think IOTA is a good investment as it drops to lower levels. I’ll be looking to hear from you in the comments. And of course, subscribe to get more updates.
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