The IOTA price performance in early June 2021 is a sign that the price has made a turn for the better in the months of May and June. The current price level has gone up by around 35% since the start of the month, with the value of the coin reaching a level of $0.40 early June. This was an important milestone for the coin, which has been trading below the $0.5 mark. Since then, the coin has remained above the $0.5 mark in the market, showing an upward trend.
IOTA price shows promising performance in early June 2021? What does it mean? In this article, we will see what happened to IOTA price in early June 2021, and how it has performed so far. We will also see the technical analysis of IOTA price for the past week, to find out what indicators might be used to predict its price tomorrow.
Looking at the chart below, you can see that the price of IOTA has been moving forward since late April, when prices were around $1.16. Since then, the price range has been between $0.99 and $2.79. This is a decent spread, and IOTA has retained its place as a top 10 ranked cryptocurrency.IOTA has both a defined use case and a loyal following – could this mean a bullish June for IOTA? The end of 2020 and the beginning of 2021 have led to sharp price increases for many cryptocurrencies. Some have reached and surpassed their old all-time highs (ATH), sometimes a little, sometimes a lot. Most people know that the ATH that bitcoin will reach in 2021 is three times higher than the previous one reached in 2017. However, some parts have progressed more slowly. One reason may be that investors are more cautious, another that they just haven’t received as much attention as the heavyweights. One example is IOTA (MIOTA), which has not yet reached its ATH, reached in January 2018.
IOTA price in 2020 and 2021
After its ATH in 2018, IOTA fell for a full year, eventually settling around $0.30. He spent the next two years with relatively few swings, for the most part, and on three separate occasions he jumped slightly higher than usual. This happened in June 2019, February 2020 and August 2020. The crypto sector has seen strong bullish activity at every turn, with most coins seeing much bigger jumps during these periods. Source: CoinMarketCap IOTA was ignored by the late 2020 bull market that brought BTC back to its former ATH, then hit $30k for the first time. In fact, IOTA didn’t start waking up until January 2021, but even then it could only reach $0.42 before growth stopped. Fortunately, the currency remained at this high level until early February, when it jumped to $1.48, nearly quadrupling in less than three weeks. The currency finally reached a three-year high on April 16, climbing to $2.53. However, after reaching such a high level, it also dropped significantly when the price was rejected, to $1.60. This was followed by two more failed attempts to return to the $2.40 resistance, with the currency only managing to reach $2.20 both times. Source: CoinMarketCap A bearish wave in the crypto industry began in mid-May, causing the price of bitcoin to halve, but MIOTA suffered an even greater loss in percentage terms. It went from $2.20 on May 9 to $0.90 on May 22, i.e. by almost 60%. In the following weeks, however, the price began to recover, notably in early June, to $1.30.
IOTA Price Forecast
With strong fundamentals in place since the May collapse, IOTA is now well positioned for further growth. It was recently announced that the project had launched its new development network (DevNet), which was widely regarded as an excellent decision as it brings the project closer to full decentralization. The new DevNet is also known as IOTA 2.0 or Nectar. Other reports indicate that early tests of the network have shown promising results, meaning that the foundation for future growth of IOTA has already been laid. Source: TradingView Because IOTA has grown more slowly than the rest of the crypto-currency market during this bull run, it may not have overheated as much as Bitcoin and Ethereum, whose erratic growth rates have led to the breakdown of many long-term trends and support lines. Although there were capitation streaks throughout, there were no daily closes below the IOTA long-term trendline. This could be a good sign for June, as a rising triangle is forming on the daily chart. IOTA’s daily ROI also seems to be recovering. This fairly strong technical picture, along with healthy fundamentals, has led to bullish predictions from the experts. TradingBeasts, for example, thinks the currency will reach $1.60 by the end of June, with an estimate above $2 by the end of 2021. WalletInvestor shares a similar but cautious view. According to their one-year forecast, IOTA could be worth $2 again within a year, and $5 each in five years. As for the forecast for June, the project estimates that IOTA will fluctuate between $1.20 and $0.95 in the coming weeks, eventually falling below that support to $0.725 in the second half of the month. It is clear that the development and progress of IOTA is welcomed by the crypto-currency community, even though the overall market sentiment remains extremely bearish. The $1.60 target was set by experts for the end of June and would represent a 50% recovery for IOTA if it happened. Please note that the above figures are only the author’s personal opinion, based on relevant market data. None of this information should be construed as direct investment advice.The growth of the IOTA market has been nothing short of extraordinary. With $5.8 billion dollars in market cap, the IOTA market capitalization is the 3rd largest cryptocurrency market in terms of today’s crypto market cap. Since it’s inception in 2015, IOTA has consistently been one of the top performing cryptocurrencies in the market. IOTA’s history is one of the most impressive in terms of upward performance. From a market cap of less than $1 billion dollars in January of 2017, IOTA has grown more than 3500%.. Read more about iota coin price prediction 2025 and let us know what you think.
Frequently Asked Questions
Is iota worth investing in 2021?
IOTA is a cryptocurrency and unique blockchain project that features a new, unique design and has been on an upward trend over the past few months. The IOTA price chart in June 2021 seems to be showing promising performance with quite a number of positive signs, which is great news for investors and enthusiasts! IOTA is one of the hottest cryptocurrencies today, and it’s no wonder at all. The IOTA Foundation is a German non-profit foundation that is dedicated to making a functional decentralized IOTA network a reality. They have been working hard to complete the IOTA protocol which will allow for the introduction of the next-generation distributed ledger, and also provide an open source solution for others to build on top of.
Does iota have a future?
We all know that IOTA is a new platform, with a new vision and a new team. However, what we don’t know is what the future holds for IOTA. No one knows what IOTA can do, in ten years, thirty years, fifty years or a hundred years from now, but its hard to think of much that can’t be done by a system like IOTA. In early June 2020, IOTA Coin was trading at $0.18 per unit. But, a year later, the coin is now valued at $2 and is making a strong comeback. It’s a nice feeling to see your cryptocurrency go up in value, especially when it is something that you believe in, but is it too good to be true?
Will iota ever reach 1000?
IOTA is a cryptocurrency that at the time of writing this has a market cap of about $4.2 billion. Its 1,500 transactions per day in Q2 of this year compare favorably to bitcoin’s average of 150,000 transactions per day. And its annualized block time of roughly 4 seconds compares well with bitcoin’s average of 10 minutes. IOTA price is showing promising performance in early June 2021, as the digital currency gained more than 10 percent in the first week of trading after its debut. The largest cryptocurrency in terms of market capitalization, IOTA has been expanding its use beyond its role as the underlying technology for the IOTA Tangle, a new distributed ledger technology that made a promising start in the first quarter of 2019.
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