IOTA (MIOTA) Price Prediction 2019/2020 to 2024: How High Can IOTA Go?

IOTA

IOTA (MIOTA) Price Prediction 2019/2020 to 2024: How High Can IOTA Go?

  • IOTA is a viable digital asset for investment, especially for people passionate about technology.
  • IOTA is predicted to trade between $0.8 and $1.00 by the end of 2019.
  • IOTA is predicted to trade between $1.5 and $2.5 by the end of 2020 based on the below price predictions in the article.

Table of Contents:

  1. Introduction to IOTA
  2. Tangle Technology
  3. The Internet of Things (IoT)
  4. Partnerships
  5. IOTA price prediction 2019/2020
  6. IOTA price prediction in the next 5 years
  7. Expert take on IOTA price prediction
  8. IOTA (MIOTA) Technical Analysis
  9. IOTA frequently asked questions (FAQs)

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Introduction to IOTA

IOTA is among the top penny cryptocurrencies that have chosen to not only tackle the future but also excel in the presence. This project looks at trust value and ownership in a whole different way; we will get into the details in a bit.

IOTA is an open-source digital asset that is issued by a Non-profit Foundation currently located in Berlin, Germany. The network focuses on enabling machine to machine communication. Besides that, IOTA can be used in the day-to-day activities for buying goods and services as well as trading. It is essential to note that transactions on IOTA’s platform are fee-less and occur at almost instant speed providing a viable option to other established networks like Bitcoin and Ethereum. IOTA has also established itself in the area of micropayment (payments in low cent area) where Bitcoin and Ethereum cannot provide service.

Tangle Technology

Unlike Bitcoin and Ethereum among other cryptocurrencies executing on a blockchain, IOTA founders decided to launch the crypto on a non-blockchain platform referred to as Tangle due to various blockchain shortcomings. Tangle functions almost in a similar way to blockchain, but the blocks are not aligned in the same “traditional” manner. In the case of Tangle, “every block has to be confirmed by at least two transactions to be valid and is executed,” writes Altcoin Magazine. In other words, the transactions occur in no particular order but run parallel, and due to this, open scaling is made possible. In that, with the rising number of transactions so is the confirmation speed. A scenario that is not possible when it comes to blockchains.

Tangle is referred to as a data structure that is made using connections between ledgers of all the nodes in a network. In a technical point of view, Tangle is a “directed acyclic graph — DAG (dt. gerichteter azyklischer Graph).”

IOTA believes that data is only valuable as it is valid and it ensures this by “having a cryptographically secure source of unified truth.”

Internet of Things (IoT)

IOTA envisions that there will be 75 billion devices in operation by 2025 and this range from “tiny sensors on roads and bridges to wearable electronics, mobile phones,” which all push the world towards interconnection. A common denominator among all these devices is the consumed data. IOTA Foundation continues to explore the Internet of Things coupled with zero-fee transactions to ensure that all these devices share technological resources in real-time in a distributed network.

IOTA’s Partnerships

All cryptocurrency projects in the world desire acceptance in various industries and economies around the world. One of the ways to push for this mainstream adoption is by forming partnerships. Partnerships give crypto more utility cases and validation for real-world uses. IOTA has not been left behind in terms of signing partnerships and collaborations. At the moment, IOTA has partnered with firms like Cisco, Volkswagen, Samsung, Innogy, F6S, Luxoft, St. Petersburg Polytechnic, The Government of Thailand, Evernym, Paragon, Satoshi Pay and the latest partnership with Land Rover.

IOTA Price Prediction – Coingape

IOTA, currently the 18th largest cryptocurrency by market capitalization has a market cap of $825 million. It is valued at $0.29 following a 12.93% loss in the last 24 hours. IOTA has a maximum supply of 2,779,530,283 MIOTA while 2,779,530,283 MIOTA are currently in circulation.

Looking back at the performance of IOTA in 2018, the cryptocurrency maintained a downward trend from the all-time high posted in December 2017 around $6.5. There was an attempt for recovery in May 2018 after IOTA found support around $1.00 but the momentum lost steam short of $3.00.

The declines that followed the month of May pushed the lows further down to the extent of forming support around $0.2 in December 2018. Since December last year, IOTA has continued to push for recovery, especially with the general upward trend across the market since the beginning of 2019. While the price has touched highs around $0.59, a retracement is underway with the current market value struggling to find balance at $0.388.

IOTA 2019 Price Prediction

As you are aware, the crypto market has posted phenomenon changes in 2019 from the trend seen throughout last year. Bitcoin broke above $10,000 and pushed the new 2019 highs to $13,800. As shown above, IOTA has recovered significantly although, there still exists a long journey before we can see it back to the tops of December 2017.

At the moment, we will not get into the nitty-gritty of the technical picture. However, just like the rest of the cryptocurrency market, IOTA is likely to continue with the uptrend in this second half of the year. Bitcoin is predicted to settle above $20,000 by December 31, 2019; a move that could cause a positive reaction for most of the digital assets, including IOTA.

Towards the end of 2019, Coingape predicts IOTA to trade between $0.8 and $1.00. This is, in fact, a very conservative prediction owing to the fact that we are in a bullish market. Moreover, IOTA Foundation continues to grow the partnerships pushing for larger adoption. The recent partnership with Land Rover shows that IOTA has the ability to add value to all people, even those that don’t use cryptocurrencies.

IOTA Price Prediction 2020, 5 Years and Beyond

The very able team behind the development of IOTA is also an indicator of continued value addition to the world economy through technology. I do not expect a ballistic rise price, but a gradual trend upwards would continue in 2020. A conservative prediction of $1.5 to $2.5 is where IOTA could exchange hands by the end of 2020. However, in the next five years, tremendous growth should be expected with the Internet of Things gaining traction. Therefore, IOTA may rise to trade between $5 and $10 by 2024, riding on technology developments such as AI, 5G, and machine learning.

Experts’ take on IOTA Price Prediction

CoinSwitch

According to CoinSwitch, the world’s largest cryptocurrency exchange aggregator which currently supports over 300 coins and 45,000+ trading pairs, IOTA has a high potential for growth in 2019. CoinSwtich also recommends IOTA for investment.

“IOTA holds a lot of potential for future returns and might reach around $4.20 by the end of 2019.  IOTA is one digital currency one should consider when looking for a digital currency with a promising future to invest in.”

Changelly

A non-custodial instant cryptocurrency exchange offering access to more than 140 digital assets. Changelly acts as an intermediary between cryptocurrency exchanges and users. It is also known for its expert predictions on cryptocurrency price performance in the official blog. As for IOTA, Changelly says that investors should not expect a sharp rise in value because the Internet of Things is still very early in the development stages and its impact on the price is long-term. On its verdict for IOTA (MIOTA) price prediction, Changelly states:

“Our IOTA (MIOTA) price prediction for 2019 is a price range in the range of $1-1.5, if the market continues its upward movement. By 2020, the cost may rise to a range of $4-10. However, serious growth should be expected in the next 5-10 years, when the Internet of Things will get adopted massively along with the development of the necessary assistive technologies, such as AI, Augmented Reality and 5G mobile networks.”

Tradingbeasts.com

A website dedicated to providing price predictions for digital assets. It updates the predictions frequently and provides a month-to-month prediction for each crypto covered using historical data with a combination of linear and polynomial regressions. As for December 2019:

“The IOTA price is forecasted to reach $0.38 by the beginning of December 2019. The expected maximum price is $0.55, minimum price $0.38. The IOTA price prediction for the end of the month is $0.44.”

Lastly, Cryptoinfobase in its latest forecast of IOTA (MIOTA) connects the growth of MIOTA to the advance in IoT:

“IOTA has the most profound technical and organizational base. Accordingly, the popularity of their token will grow. Reaching a price of $1 per coin is the goal of the end of the first half of 2019. Further surging is possible, but not on such a scale.”

 

IOTA (MIOTA) Technical Analysis

IOTA, like most of the cryptocurrencies in the market, significantly corrected upwards in April, May, and June. The price hit highs above $0.50 in June before retracement began. Initially, there was a consolidation between $0.38 and $0.42. However, increasing volatility and bearish pressure across the market has seen most cryptocurrencies, including IOTA dive massively below several key support levels at $0.38, $0.34, and $0.30.

MIOTA/USD 2-h chart

Chart source: Tradingview

A low has been formed at $0.2850 allowing for a correction that has reclaimed the support at $0.30. MIOTA/USD is currently trading at $0.3058 within a flag pattern whose breakout could lead to further growth. However, it is apparent that the momentum is diminishing to the upside with the likely movement in the short-term being sideways.

The Moving Average Convergence Divergence (MACD) is moving upwards from the lows it hit on July 15 around -0.01341. The increasing divergence to the north is a key indicator that the buyers have the upper hand and will remain in control in the coming sessions. While the Relative Strength Index (RSI) has recovered from the oversold (-22.61), it has not been able to breach its way into the overbought. Instead, it is horizontal around above 40 signaling sideways trading and pivotal movements around $0.30 level.

IOTA has a positive technical picture, although growth will not be rapid and ballistic. Investors can expect up and down movements; however, a higher low pattern is very likely.

IOTA – Frequently Asked Questions (FAQs)

What is the current market value for IOTA (MIOTA)?

IOTA is trading at $0.3058 at the time of writing. (July 16, 2019).

What is IOTA’s price prediction by the end of 2019?

Coingape predicts IOTA to range between $0.8 and $1.00 by the end of 2019. However, other experts and analysts have given IOTA a higher value, as seen above.

Would you recommend IOTA for investment?

Yes. IOTA is a viable digital asset for investment, especially for people passionate about technology, machine learning, artificial intelligence as well as the Internet of Things (IoT). This is to say that the investor should not expect short-term returns but look at the bigger picture in the next five to ten years. In other words, IOTA is good for long-term investment.

What will IOTA cost by the end of 2020?

IOTA is predicted to trade between $1.5 and $2.5 by the end of 2020 based on the above price predictions in the article.

What is the current price of Litecoin (LTC)?

Litecoin is currently valued at $111 (June 7, 2019).

How much will IOTA be valued at in five years?

By 2024 I expect IOTA to range between $5 and $10 by the end of the next five years. The increase in value could be higher depending on the IoT and related IOTA technologies.

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IOTA (MIOTA) Price Prediction: $2.5 by the end of 2020?
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IOTA (MIOTA) Price Prediction: $2.5 by the end of 2020?
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IOTA Price Prediction and Forecast for 2019, 2020 and Beyond. Let's dive deep into the analysis of IOTA to know what the road is like ahead for IOTA.
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John Isige 167 Articles

John is a talented writer with over two years of experience actively contributing to the cryptocurrency industry by providing credible, interesting and easy to read the content. His main focus is on cryptocurrency price analysis and industry news coverage. Lets follow him on Twitter at @jjisige

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