IOTA has not only been increasingly gaining attention from crypto investors, but from automobile, payment, and identity companies like Volkswagen, SatoshiPay & Evernym. With the latest press releases on IOTA partnering with numerous companies, I believe IOTAs tangle technology shouldn't be taken for granted & should be considered thoroughly by the public: seeing it could benefit all sectors in our economy.
I just wanted to briefly give an update on IOTAs technical analysis report with regards to its current momentum and indicators hinting an upcoming price surge?
On Aug. 1, 2017 we saw a dramatic increase in IOTA's price for 17 consecutive days from $0.25 up to $1.10 {w/ a roughly 345% gain} Shortly after Bitcoin's pullback on the 19th of August, IOTA had some trouble recovering itself and continued to decline while Bitcoin's price surged from $3,540 up to record breaking $5,000.
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It would be of no surprise to see IOTA recover from its lowest price value in 25 days. The bigger the gap between the current price and its historical identical value, the higher the probability it will have a correction and resume a bullish trend. IOTA is now roughly 50% off as of today [9/3/17] from its historical high & could easily see an exponential growth once Bitcoin passes its $5,000 resistance point. If Bitcoin surges into the $6000 range it could easily be interpreted most alt-coins will see positive candle sticks. The being said, when analyzing IOTA and its future speculative value, I see the value of 1 (M)IOTA being roughly $1.25- $1.75 within early November and $3 by 2018.
When looking at other alt-coins and their behaviors I try to look for patterns that help identify resemblances and their approximate directions. In the case of OmiseGo (OMG), an Ethereum based project, we see that after its slight pullback in price on July 24th - Aug. 1st 2017 is indeed what IOTA is currently facing. After the pullback passed and the resistance point was broken, OMG moved up 700% from $1.20 to well above $7. Today (OMG) 9/3/17 is trading at $10.72 a 1,000% increase from last months price value. Will IOTA see a massive correction sooner than later? Maybe.
Below is a chart displaying the pullback OMG had (Similar to IOTA's current price pullback)
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After, IOTA becomes widely adopted by worldwide exchanges, we could expect a price surge well above 1000% that could send the price of IOTA sky rocketing into unknown territories. Speculative but very possible.
Thanks for reading :D
Stay informed, remain encrypted
RichIntel
Any donations would be appreciated.
IOTA: RVMBEJFUYHNTBABJYDZIRNFVAIAZHSDX9R9PSZTZGMFVWFMWUUDXZHGOIBJ99YR9YQVDIYPBGANZHURBXFYNBSOSYW
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I am not a financial adviser. I share my research with the public when analyzing markets. If I can motivate anyone to enter the crypto-currency world I have done my duty as a human being. Let the markets work freely!
-RichIntel
If you'd like to read my previous blogs on EOS & Exodus adoption, Artificial intelligence, or Crypto currency news click on the links below.
https://steemit.com/cryptocurrencies/@richintel/petition-for-exodus-to-adopt-steem-crypto
https://steemit.com/cryptocurrencies/@richintel/crypto-bloodbath-why-is-ltc-so-quite
https://steemit.com/bitcoin/@richintel/crypto-currency-and-artificial-intelligence
If you want to learn more about IOTA check out these Source sites:
3.)https://www.worldcoinindex.com/coin/iota
4.)http://bitcoinist.com/iota-internet-things-without-blockchain/
Thanks for the info! Posts like these give the knowingly blind more sight to work with.
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