Is It Time To Buy IOTA? Price Dropped By 23%

IOTA was trading at the price of $2.56 which was recorded as the highest of the week. Since the past week after hitting the hike 3 days back, the price further fell by 23.4%. The same bearish trend has been prevailing as the currency saw a decline in the price by 18% in the last 24-hour period. The current market capitalization for IOTA [MIOTA] is $5.1 billion which has dropped by more than 1 billion within a couple of days.

The bear market is uniformly inflicting the crypto-market as most of the currencies experienced a bear run in the last 24-hour marker. The biggest drop is conceived by Bitcoin [BTC] as the price fell down to $8500.

Samantha Nates, a technical analyst says:

 “On the four hour chart IOTA market volatility has been lost. The buying and selling indicators are declining bellow the moving average. The MACD is proving a further bearish trend for MIOTA as its falling way below without the intersection of ‘buys’ and ‘sells’. The trade market on a whole is pinned down there is nothing to be expected out of this market for now.”

She further added that MIOTA just like other currencies will soon experience a bull run tomorrow and prices would hike up.

IOTA Foundation has recently announced that they have recruited Michael Nilles who was the former Chief Digital Officer at Schindlers

, a digital solution company. This the second recruitment by IOTA this week

Michael gave his opinion and told his viewpoints while joining the IOTA foundation:

“The Industrial Internet of Things today is very powerful within individual industry sectors, but it lacks a decentralized and trusted machine-to-machine transaction layer to fully enable cross-industry ecosystems. The smart city of tomorrow for instance will require bridging autonomous mobility and intelligent buildings.” He further said that the IOTA with its Tangle based Distributed Ledger Technology is best positioned to fill the gap.

Felicity, on social media, says:

 “Congratulations IOTA for having such brilliant minds to your organisations forefront and its future. I believe in an IOTA future”.

A Redditor says:

“I personally don’t expect Forex trading scene to change any time soon. But if changes are to be made in the future for more secure and timely settlement in Forex market, I’m fairly sure IOTA will be a good fit (perhaps on a par with Ripple), given its fee-free transaction and high scalability. Let’s wait and see what the future brings.”