If you want to learn what is IOTA and how to get it, read our article on this topic.
Bitcoin’s influence on market
Last week, most of cryptocurrencies experienced a small fall dueLitecoin Price Analysis and Prediction 14.05 to Bitcoin situation, as it is still the leading cryptocurrency, which events and speculations affects the others. You can read an analysis about what happened to Bitcoin price last week in this article.
Important News
First and foremost, IOTA announced their possibly revolutionary Qubic project. There are not many details yet and they seem to try to keep it secret for now, realizing only small teasers. The Q-project has oracles, smart contracts, and outsourced computing.
“Qubic is more a protocol on top of the IOTA protocol. This means that the community can go wild and come up with ideas we never even thought of. I imagine the real killer apps for Qubic haven’t been envisioned yet”
When it comes to smaller interesting events, it’s worth noting that the project has their plugin which allows to pay with the coins on various marketplaces, called PayIOTA. Claudio Atilano from Metamesh.io has decided to take a look at the actual usage of coins and prepared his analysis based on the amount of plugin payments. The general conclusion is that the IOTA is slowly becoming more and more used for simple transactions and with the positive market movements people are keen on spending their tokens.
Price Movement Analysis
IOTA seems to have stabilized itself on the $2 mark, fluctuating slightly around this mark. It has remained stable for a couple of months already, with a slow and stead uptrend. It should be noted, that IOTA wasn’t affected that significantly by the overall red market and small fall in prices of most altcoin due to Bitcoin situation.
Prediction
With more details coming or even the Qubic protocol itself being scheduled for next month, we can expect an even more optimistic price movement in the short term. It would be safe to expect maybe even a price of couple of dollars if the new feature happens to be successful. And as it enables new projects and dApps to be built upon IOTA, the price will only raise even more. However, one shouldn’t expect prices exceeding $100 dollars. The one year safe estimation is a range of $10, while the next years could bring it to $50 range. That means, that if everything turns out to work properly there might be 25x profits to be expected in the long term. However, the sole market of smart contracts and dApps gives a tough competition, not only by the well-established Ethereum, but also young and smaller projects bringing their own brave contributions and technologies.
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