IOTA Price Forecast for 2018: IOTA Beats Ripple
A little-known cryptocurrency, IOTA, is suddenly the talk of the town. In just a few days, this digital currency jumped to the fourth spot on the list of most valuable cryptocurrencies in the world.
On its way up there, IOTA beat some of the prominent names in the game. Litecoin, Dash, and Monero were left behind as IOTA took a lead over them. Some tailwinds are working in its favor, which spell a bullish IOTA (MIOTA) price forecast for 2018.
IOTA and its token MIOTA had a grand slam victory on Tuesday after beating Ripple to achieve the fourth-largest market capitalization in the world. With a market cap of around $12.0 billion, investors have gone into a tizzy as all eyes turn toward it.
This sudden surge in the IOTA price has been no coincidence. The price advanced on the back of a concrete development.
IOTA is now one of the few digital currencies that has caught the eyes of industry bigwigs, who may now be planning to bring its technology to the mainstream.
IOTA has just entered into a partnership with some 20 big multinational corporations—notably Microsoft Corporation, Cisco Systems, Inc., Fujitsu Ltd, and Accenture Plc—to integrate IOTA with the Internet of Things (IoT).
IOTA Cryptocurrency Adoption by IoT Industry Could Multiply Its Price
In case you missed it, IoT is a next-generation technological concept under which smart devices connect and interact with each other. IOTA, which seemingly derives its name from the same concept, has centered its development around IoT technology.
On IOTA’s network, smart IoT devices may be able to send and receive data and carry out transactions in a secure and private way.
For instance, one smart device (say, a TV, a home security system, or a car) may be able to command another smart device to perform a task and, in turn, pay it for carrying out the order.
The transactions between these devices will take place on IOTA’s platform, which means they’ll be decentralized and free from manipulation. The transactions will be denominated in its token, MIOTA.
The idea seems futuristic, and we have yet to see a real-life example of it being used. That’s exactly what IOTA will be working on if these recently announced partnerships materialize.
The IoT sector is expected to be a multi-trillion-dollar industry in the coming years. Even if IOTA were to take a small slice of this gigantic pie, it could be set for life.
IOTA (MIOTA) Price Forecast 2018
Take note that IOTA was trading for pennies on a dollar just about a week ago. Soon after the news of the big partnerships made headlines, the IOTA price shot through the roof.
In fact, if you compare its performance with Bitcoin, you’ll be surprised to find that, in recent days, it has outperformed the cryptocurrency heavyweight by a huge margin.
Chart courtesy of TradingView.com
The IOTA to USD price is currently hovering oround $4.00 and, from where I see it, the IOTA price doubling from here seems like an imminent possibility.
IOTA’s recent boom seems like a dream. It’s natural for new investors to feel giddy. But if you’ve bought in, don’t be too hasty to sell.
As they say in the crypto-world: Hold On for Dear Life (HODL)! That’s because IOTA may be breaking the $5.00 barrier sooner than you think and heading straight for the $10.00 mark in 2018.