IOTA Price Prediction 2019-2025: How high can MIOTA go?
In this article we are going to discuss IOTA’s future. Recently, the IOTA project has been gaining plenty of interest worldwide, with many curious about its future.
Launched in 2015 via crowdsale, IOTA was founded by David Sonstebo, Sergey Ivancheglo, Dominik Schiener, and Dr. Serguei Popov. The network itself is now developed and supported by the IOTA foundation, a German non-profit corporation, with Sonstebo and Schiener in leading positions.
So why exactly has this project attracted the attention of so many people inside and outside of the crypto sphere? Let’s do a little research on what this project is all about and on MIOTA price predictions. Will there be an unexpected bull movement?
What is IOTA?
How much is known about this digital currency? We’ll give an overview, but first let’s imagine the following situations.
What if your alarm could wake up you at approximately 6 a.m. and notify your coffee machine to start brewing coffee for you? What if you were on your way to an extremely important meeting and your car could access your calendar and pre-plan the best route? These situations are in fact possible if we talk about the “Internet of Things”. But what is the “Internet of Things?
The “Internet of Things” is the concept of connecting any number of devices with or without an Internet connection. Surprisingly, it can include everything from smartphones, coffee machines, headphones, cars and almost anything else you can imagine.
In a nutshell, the idea behind IoT is to facilitate communication between devices via sensors and the internet. The IOTA coin is specifically introduced to make this communication reliable and fault-free.
IOTA stands for Internet of Things Application, and “it’s crypto technology that executes transactions between devices on the Internet of Things (IoT)”. IOTA (MIOTA) is a cryptocurrency based on “tangle technology” that focuses on the instant, feeless payments between machines on the Internet of Things.
Using a database, Tangle technology is based on Direct Acyclic Graph and requires neither miners nor data blocks. Consequently, IOTA’s transactions are free, fast, and can easily scale regardless of the size of the transaction.
IOTA was introduced for trading only in June 2017, though the ICO (initial coin offering) for the digital currency was held in 2015. Bitfinex was the first exchange to add MIOTA. In terms of market capitalization, IOTA is one of the top 10 cryptocurrencies in the world.
History of the digital currency
One of the most important events in the currency’s timeline was the launch of the Data Marketplace, using IOTA’s technology to simplify the storage and sale of data streams. Several well-known companies already participate in the network.
Not long ago, IOTA Foundation began establishing projects such as biometric palm readings tied to digital integrities, and working on smart city technology for Europe and other parts of the world.
Meanwhile, in May 2017, IOTA outlined a 10 million dollar platform fund to endorse collaborations, community strategies, and digital gains initiatives. By June 2017, the MIOTA cryptocurrency was listed by its first exchange, Bitfinex Outlier Ventures; and, by August of the same year, the largest missing person database, REFUNITE, announced a partnership with the IOTA Foundation in order to reconcile families during and after conflicts.
By November 2017, the IOTA Foundation was officially registered as a non-profit corporation under German law. Since then, the company has been partnering with large, noteworthy companies such as Deutsche Telekom, Microsoft, Fujitsu, Samsung, Volkswagen, Audi, Bosch, and more.
Meanwhile, the project has also been criticized. The most recent controversy began when Ethan Heilman, a security researcher at Boston University, disclosed to IOTA that the hash function they were using, which was an in-house concoction called Curl, was broken. In addition, instabilities in the IOTA protection system were revealed by specialists from the Massachusetts Institute of Technology (MIT). After these accusations, the value of the cryptocurrency fell by 15% after long-term growth.
IOTA price predictions by Crypto Experts
Computer programmer, businessman, and crypto expert John McAfee expressed 2017 his negative attitude to the IOTA technology in 2017, condemning IOTA’s cooperation with Microsoft and predicting a fall in growth rate to a relatively meager 10% per year.
Ethereum ecosystem founder, Vitalik Buterin, criticized the IOTA project for using Tangle technology instead of the blockchain. To his mind, the Tangle is not the best nor most relevant technology to suit the lofty goals of the IOTA Foundation. Consequently, the Ethereum founder doesn’t expect any magnificent prospects, predicting only MIOTA’s downtrend:
Despite some experts’ concern, many crypto sources are predicting IOTA to be a huge asset to invest in. The social crypto platform smartereum.com is no exception; their prediction for MIOTA is set at 5 USD for the upcoming year. According to the source, that prediction was based on factors including the strength of the team, technical prospects, and continuous development.
Among detractors of the IOTA concept is Matthew Green, an applied cryptographer at Johns Hopkins University, one of the innovative designers of a digital currency in great demand, Zcash.
A developer at the Ethereum Foundation, Nick Johnson, has said he finds IOTA “deeply alarming.”
Johnson says they are reconsidering “basic operations such as cryptographic hashing,” violating “rule 1 of cryptography: don’t roll your own crypto.”
But Johnson’s biggest concern is that IOTA’s developer claims to have intentionally added the fundamental flaw of a number of significant vulnerabilities: preventing others from copying IOTA’s open source code by allowing them to compromise these projects. From his perspective, this represents a kind of centralization and potentially an unfortunate single point of failure.
As you can see, the experts’ projections are very diverse. It is not easy to set a single price prediction for the platform, which continues to develop and gather strong interest, while simultaneously attracting criticism for occasional blunders.
Technical analysis of IOTA price
Technical analysis of cryptocurrency prices usually involves two factors (historical price trends, historical volume trends), rather than taking into account elements such as team, development, roadmap, and so on.
Potentially MIOTA’s market environment has been in bearish cycle last 12 months. According to the website walletinvestor.com, there will be a negative trend in the future and the MIOTA is not a good investment. Since this digital currency has a negative outlook, the IOTA’s price by July 2019 hits $0.00.
Tradingbeasts.com estimates the price of IOTA to vary between $0.67 and $0.98 at the time of writing as this source updates its predictions depending on the current market conditions. Clearly, both of these credible sources see different price potential from a technical view of MIOTA.
IOTA price prediction 2019
There are lots of suggestions that it will be profitable to invest in IOTA for the long-term, a period of 5+ years. However, there are still some indispensable factors which can affect the prices of any digital currency.
If we investigate the ‘IOTA ecosystem’s development and research roadmap’, the goals outlined are substantial. The roadmap shows the progress of various projects within the IOTA Foundation. They are divided into Research and Engineering sections.
The Research section includes 7 upcoming projects such as ‘spam prevention and detection’, ‘attack analysis’, ‘cryptography spec’ and so on. The Engineering section covers 12 projects under active development.
The lowest prediction for IOTA’s 2019 price is $0.07-$0.08 (longforecast.com), and the highest is $0.98 (tradingbeasts.com). Others (theoofy.com) have noted the variance in target price, saying “it’s very difficult to give an exact figure for long-term predictions. Still, we can say that by 2019, the price of IOTA will only fall and stay at the level of $0.4 – $0.5.”
IOTA price prediction 2020
A more pessimistic price prediction is given by the crypto platform longforecast.com, according to which the price will hover somewhere between 4 and 9 cents. Meanwhile, other sources are bullish, arguing that the market cap may rise as IOTA is among the ecosystems using Tangle technology instead of the blockchain. Our next source cryptoground.com predicts MIOTA’s price to be approximately $1. The website theoofy.com expects IOTA’s price rise back from $0.03 to $3.00 by the end of 2020 year.
The platform has become a preferred option to perform device-to-device transactions due to IOTA’s zero transaction fee. This is why a considerable number of blockchain adherents could change over to IOTA, which would definitely boost its market cap.
IOTA price forecast 2025
Some crypto enthusiasts say it is possible for MIOTA to reach the value of $35 within five years. Other crypto experts suggest the IOTA team should expand the list of their partners in order to keep the coin price stable. The source cryptogound.com estimates the price of 1 IOTA at around $6.27 in 2025.
Predicting the price of IOTA in five years time is, of course, pure speculation. Who can say what will happen to cryptocurrencies in five years from now. However, according to the theoofy.com projections IOTA will reach a value of 38 USD.
So will IOTA see an unexpected bull movement in the future?
IOTA has a very strong community that has made the concept of smart devices transacting via the MIOTA cryptocurrency - indeed the entire ecosystem - possible and in some cases already successful. We concur that this project is truly unique and strong in comparison with others. The IOTA Foundation, its cryptocurrency MIOTA, and the Tangle technology are a provocative experiment. If fortunate, the Tangle could become a strong competitor to blockchain technology in terms of transactions. But, on the other hand, the whole concept remains broadly untested and unproven. The project’s technology is still making small steps and also has some insignificant flows.
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Please note that all the data above is collated from different sources. This article is not intended as financial advice. Before investing, please do your own research.