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The crypto token IOTA (MIOTA) is designed to help optimize the ‘Internet of Things’ (IOT). Over the next few years, nearly all physical devices, including everything from cars to stovetops, may be interconnecting via the internet. This inter-network is known as the Internet of Things.
However, this will also create more IP traffic, potentially congesting global data pipelines. Furthermore, it may not be possible for all devices to run on centralized cloud silos, with the amount of data they are expected to produce. As IOTA’s website explains,
“This conundrum was the cause of the inception of IOTA. Through zero fee transactions, these devices can share these technological resources amongst one another in real time locally in a distributed network, thus avoiding the centralized points of failure, unclogging the resource infrastructure and abide by the laws of physics.”
“The IOTA Tangle is a quantum-proof Directed Acyclic Graph, with no fees on transactions & no fixed limit on how many transactions can be confirmed per second in the network. Instead, throughput grows in conjunction with activity in the network; the more activity, the faster the network. Unlike blockchain architecture, IOTA has no separation between users and validators; rather, validation is an intrinsic property of using the ledger, thus avoiding centralization.”
These tokens, which are currently trading at around $1.75 each, have generated a lot of buzz in the crypto community. In fact, at press time MIOTA is currently the 10th most valuable altcoin in terms of market capitalization. Moreover, there’s some folks who think IOTA is just getting started.
With that in mind, let’s take a look some IOTA price predictions for the days ahead.
Note: This article is not intended to be investment advice. We strongly encourage readers to do their own research before investing in any cryptocurrency.
In a recent Medium article, software engineer and crypto enthusiast Peter Ryszkiewicz shared his thoughts on where he believes IOTA’s price is heading in the near future.
In his piece, Ryszkiewicz points to several events, which he believes are inevitable and will push the altcoin’s price upward. These items include things like IOTA being added to the popular crypto exchange Coinbase and becoming a mainstream arbitrage utility.
In his own words,
“Conservatively, and assuming these inevitable events happen over the next year or few years, we could see Miota priced between $38–$190.”
The engineer also discussed some additional events, which he freely admits, “may or may not occur at all,” that would drive IOTA prices even higher. Additional big-name partners, IOTA creating legal entities in various regions of the world, and integration with the Ethereum protocol are items he believes could have the altcoin’s value increase by over twice as much as the previously listed amounts.
David Zeiler is the Associate Editor for the financial news website Money Moring. He published an article last March that offered rather bullish IOTA price predictions.
Zeiler wrote that he believes the token’s value could quadruple by year’s end. A single IOTA was trading for around $1.13 at the time of his writing. If correct, that would put the price for single MIOTA at around $5 as 2018 comes to a close.
His reasons for optimism include the strength of the team behind the altcoin, the scalability provided by the use of tangle technology, and the interest it’s generating from some high profile companies.
While addressing the last point, Zeiler explains,
“Last year, IOTA unveiled it’s “digital marketplace,” a proof-of-concept project that demonstrated IOTA’s ability to distribute and monetize data. Companies that participated in the demo included Microsoft Corp., Deutsche Telekom AG, Fujitsu Ltd., Accenture Plc., Cisco Systems Inc., and PwC.”
The editor believes that his 2018 IOTA price predictions might even be a little modest, and thinks a 30,000% increase in 2018, isn’t entirely out of the realm of possibility.
Spreadsheet.io (a crypto data website) founder John Young’s forecasts have been featured in several of our previous articles. With his method, which he describes as a “Monte Carlo simulation using the geometric Brownian motion model,” Young provides some very interesting IOTA price predictions.
While other writers often rely heavily on speculation, the data guru focuses on the numbers when trying to determine future price movements. Basically, he gets historical daily prices for cryptocurrency, calculates daily return, and then simulates a year several times over. The result is a range of outcomes which include a high, low, and median price point.
When using his method to provide an IOTA forecast for 2018, Young determined,
“We can be 95% certain that IOTA prices will fall between $0.02, and $17.72 with a mean of $3.82.”