Introduction to IOTA: Tangle and the Internet of Things Economy
During the late 2017 and early 2018 cryptocurrency hype bubble, few crypto assets or altcoins received as much buzz as IOTA, traded under the MIOTA ticker.
Around that same time, there was a massive boom in a budding new technology that would someday reshape the world, turning technology into a fully automatized well-oiled machine. This technology is called the Internet of Things, and IOTA was designed to be the currency that powers the micro transactions across all interconnected IoT devices, cars, home appliances, and much more.
This led to enormous IOTA price predictions, as the crypto project garnered support from major brands and consumer corporations such as BOSCH, Volkswagen, Microsoft, and many many more.
The idea is that these devices in the future would be designed to talk to one-another, all without the need for a third-party or human intervention. This constant communication would require a micro transaction economy to power, and IOTA was created to be the ideal solution for this ecosystem.
At its peak, the price of IOTA reached over $5.79 per MIOTA coin. The lowest price ever recorded for IOTA happened in March 2020 on Black Thursday, when the token reached a market price of $0.07 each. The IOTA price today is double that at over $0.27 per MIOTA coin.
This represents an over 95% fall from all-time high. However, given how powerful this Tangle technology is powering IOTA, and the promising future of the Internet of Things, IOTA will rise once again, and reach new record prices in the years ahead.
This guide aims to provide an accurate projection on IOTA price, supply IOTA price predictions from experts, and will provide details on what to expect for IOTA price tomorrow and beyond, including the years 2020, 2021, 2022, 2023, all the way through 2025. By the end of the guide, you will have a better understanding of IOTA projected growth, have a long-term IOTA forecast, and allow you to answer the question for yourself “should I buy IOTA,” or not.
What is IOTA? Understanding The Distributed Ledger Technology Behind Tangle
IOTA is nothing like the rest of the other cryptocurrencies out there, giving it a unique projected value and estimated growth trajectory from the rest of the altcoin market.
Unlike most other cryptocurrencies, IOTA doesn’t utilize the traditional blockchains that are similar to Bitcoin or Litecoin, and instead uses a distributed ledger technology called Tangle.
The IOTA Foundation, the company behind the altcoin project, says that Tangle is the missing link for the Internet of Everything and Web 3.0.
Each MIOTA coin is part of the greater IOTA Tangle network, powering a “secure, scalable and feeless transaction settlement layer,” that will allow IOTA to “empower” machines and humans to interact in a new type of permissionless economy.
Blockchains are stringed together in sequence and all data is stored in blocks. But with IOTA, the distributed ledger technology called Tangle acts as a stream of individual transactions entangled together, hence the name of the tech behind the altcoin.
Another way that IOTA differs from Bitcoin and other cryptocurrencies that rely on basic blockchains, is by offering a feeless structure so that the Internet of Things economy can grow without becoming over-encumbered by fees which would require close management and human intervention – exactly what IOTA seeks to remove from the equation.
Because IOTA doesn’t require monetary rewards, each transaction can store data, and not just value-based settlements.
This IoT economy also would prevent hacks, cyber crime, and more, by ensuring all transactions are valid, so that machines can operate throughout the network freely in a trustless environment.
What Is the Internet of Things That IOTA Powers?
Internet of Things is a new technology where devices and machines are connected via wifi directly to the internet, and operate on their own without further human intervention or maintenance. This type of technology offers a leap forward in home automation, by controlling lights, heating, and more.
This is exactly why Microsoft, BOSCH, and many other major corporations are considering partnering with IOTA, due to the project’s amazing potential in service this need and creating a microtransaction economy around it.
IOTA Price History and Long Term Price Potential
IOTA first exploded on the scene in late 2017, and the shiny new altcoin with endless promise exploded in value due to all the speculation at the time as to how high IOTA can go.
During this time, it traded at a price of roughly $0.27 per token, which is also the current market price. IOTA’s supply is scarce, with only 2,779,530,283 MIOTA to ever exist.
Before the year was over, however, the IOTA trend was so strong, it took the altcoin asset to as high as $5.79 on the IOTA/USD trading pair. Most of the increase was driven by how strong each piece of breaking IOTA news was, announcing one new partnership after the next.
However, even though the IOTA future was extremely bright, soon the altcoin found its price going down, and dropping fast as a result of the crypto hype bubble popping.
The cryptocurrency asset closed out 2018 at a price of just $0.20 per IOTA coin, resulting in an over 90% drop from all-time high prices.
In 2019, soon crypto investors found themselves asking why is IOTA going up once again, as the asset doubled in price with a 100% ROI after reaching a local high of $0.50 per token.
In late 2019, IOTA set another new, bear market low, at $0.14 per token. However, this certainly didn’t disrupt how strong the IOTA potential is, and many long-term price predictions still stand.
As it currently stands, the high for 2020 rests currently at $0.37 per token, with a low of just $0.07. IOTA was one of the many assets that suffered immensely during the Black Thursday crash of 2020.
Regardless, IOTA price predictions are so strong, it is not a matter of when, but a matter of by how much will IOTA growth explode in the years ahead.
IOTA Price Predictions by Crypto Experts
Because IOTA is such a relatively new technology, it has yet to gain the support or recognition from as many industry experts as assets with more history, such as Bitcoin, Ethereum, or Litecoin. Still many experts have provided long-term price predictions for IOTA.
The high-quality IOTA price prediction source, Wallet Investor, has issued an IOTA forecast of reaching as high as $0.446 in 2020 and $2.23 in 2025. However, other theories point to price growth being much stronger.
Another pricing website, Trading Beasts, suggests that IOTA price will reach $0.50 in 2021, then the following year, just $0.62 showing slow and steady growth for investors.
Digital Coin Price thinks that IOTA will reach a price of $1.34 by the year 2025.
Given how powerful the price explosion was in 2017, rising by over 1600%, these predictions are conservative at best.
Other ways to consider the long-term price potential of IOTA could be better served by looking at the company’s partnerships, with these major brands acting as a stamp of approval by industry experts.
Remember, the executives at these major corporations had to perform plenty of due diligence in IOTA before establishing a partnership, so their support was an incredible nod of approval and a major factor in determining if IOTA is a good buy or not.
Partnerships include BOSCH, a producer of electronic parts, Microsoft, one of the largest tech brands in the world, and auto-manufacturer Volkswagen. These brands are all manufacturers of devices, appliances, and even automobiles that will all utilize IOTA’s Tangle technology to power an Internet of Things ecosystem. More partnerships are listed in the image above.
IOTA Technical Analysis and Long Term Price Prediction
Because IOTA is such a new, disruptive financial technology designed for a specific sub-sector of the tech world with the Internet of Things, the amount of expert options and long-term IOTA price forecasts from experts are lacking. To still provide the best and most accurate price predictions possible, analysts have provided this detailed technical analysis to attempt to provide more realistic price predictions for the altcoin.
IOTA Price Prediction 2020
On weekly timeframes, IOTA looks to be ready to retest resistance yet another time, or may fall or trend sideways for more consolidation. IOTA is a tough read currently due to the string of weekly doji candles, signaling indecision in the market. Because of this, the high for 2020 may already be in, or IOTA could retest the 2020 high of 37 cents another time.
IOTA Price Prediction 2021- 2022
IOTA, like many other altcoins, could be forming a massive head and shoulders triple bottom, with the right shoulder playing out over the next two years. This would keep IOTA price below 37 cents a while longer, but when it finally confirms the pattern, it could soar once again.
IOTA Price Prediction 2023 – 2025
If IOTA can confirm the pattern, it will revisit all-time highs around $3 per MIOTA token, however, the bullish momentum could overextend and take the asset to a new peak by 2025.
Conclusion: What Is the Future Price Outlook for IOTA?
The future outlook for IOTA and the rest of the cryptocurrency industry including Bitcoin is extremely bright. The asset class only showed the world just a fraction of what it is capable of during the 2017 hype bubble.
During that time, IOTA was among the most popular and hyped cryptocurrencies and altcoins, which helped its value skyrocket to an all-time high of over $5 per MIOTA token.
The emerging asset class is only just getting started, and we have only witnessed the beginning of the emergence of the Internet of Things technology that IOTA seeks to power. Whether there is actually a need for such a microtransaction economy or not will determine if IOTA reaches any of these lofty long-term price forecasts.
The table below demonstrates the possible highs and the lows for IOTA over the next five years. In the list, there are many new all-time high records possible.
|Year||Potential High||Potential Low|
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Speculation points to these assets rallying once again, possibly soon due to Bitcoin’s upcoming halving. If the crypto asset class begins rising again, and the Internet of Things economy booms, IOTA’s price will reach one of the massive valuations eventually.
IOTA’s Tangle structure that is unlike any other blockchain project in the market gives it additional unique value that could cause it to perform in the years ahead.
Now that you know just how much IOTA prices could reach, and understand the value behind the project, you can now make an informed decision if IOTA is a good buy or not.
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