Why doesn’t the price of IOTA rise (How high can the price of IOTA go)?

Why doesn’t the price of IOTA rise? Why doesn’t the price of IOTA rise?

According to cryptoglobe news, based on CoinMarketCap data, among the top ten cryptocurrencies by market cap, except for EOS, the price of IOTA has dropped by about 10% in the past 24 hours. According to BitInfoCharts, the current price of IOTA is $10.45, with a daily increase of over 20%; IOTA is one of the best-performing crypto assets this year.

In addition, due to recent market fluctuations that led to significant price drops in Bitcoin and Ethereum (e.g., BTC skyrocketing from around $20,000 to $50,000). As a result, the market experienced a significant correction, and many believe this is due to the lack of continuous rise after the last Bitcoin halving: one reason is that Bitcoin’s price has been hovering around $34,000 for a long time, but then it rebounded to around $46,000. Another reason is that Bitcoin’s block rewards have decreased significantly, but miners have found themselves unable to mine more Bitcoin, so they sell their Bitcoin on one exchange, leading to a market crash. The third reason is that some exchanges have suspended many trading pairs for security reasons. These reasons have led to the lack of continuous rise in the price of IOTA: 1. Some investors are worried that if the price of IOTA suddenly plummets one day, many people will choose to sell all their Bitcoin and invest. 2. Many analysts predict that once Bitcoin starts to decline, it will return to its previous high point. 3. Some analysts manipulate the price of Bitcoin to its historical lows and then engage in arbitrage and other activities. The fourth reason is that some suspect that if Bitcoin hits bottom again and stabilizes, other altcoins may follow the downward trend, even with a larger decline.

How high can the price of IOTA go?

Editor’s note: This article is from BlockBeats (ID: blockbeats), written by 0x29, authorized for reprint by Odaily Star Daily.Recently, how high can the price of IOTA, which was listed on Binance exchange, go? I believe many people have heard of this name, but regardless, I think IOTA is still an interesting cryptocurrency.I. Basic Information1. IOTA is a blockchain project, aiming to provide a secure way for global users to use digital assets for value exchange.2. IOTA token holders have the right to receive various rewards and discounts offered on the platform.3. If the price of IOTA rises, IOTA will be used as a trading pair to handle cryptocurrency transfers for users.4. In the near future, IOTA will be integrated into other blockchain ecosystems.5. The current market circulation exceeds 1 billion, most of which were distributed to users through airdrops. These airdrop privileges will be distributed monthly afterwards.6. Since the beginning of this year, IOTA has continuously attracted new users, with around 3 million active addresses daily.7. The market value of IOTA has reached $100 million.8. Currently, the main trading pair for IOTA on the market is IOTA/BTC, which accounts for around 50% of the market value and has reached a historical high.9. It has been reported that the IOTA team plans to launch its own stablecoin, IotaDollar, which can be used for everyday expenses and help businesses accept Bitcoin payments and other services. (Image source: bitcoinist)Furthermore, according to the information displayed on the IOTA official website, as of the end of December 2018, 5 billion tokens have been issued, with a total supply of 21 million (as of February 27, 2020). In addition, some community members are adding new tokens, such as iotaUSD, and more IOTA tokens to the platform. In addition, IOTA is also seeking to raise more funds to enable them to purchase iotaUSD.