Internet of Things is a breakthrough technology, which is all set to redefine the way the tech-markets function. IOTA is a cryptocurrency which banks on the Internet of Things technology. The currency has found a number of backers in a short period of time and performed really well in 2017. IOTA, however, has been caught in the downward trend which has gripped the entire crypto markets of late. Let us take a closer look at the performance of IOTA prices over the past 24 hours and the past week, as well as where the currency is likely to head towards in the near future.
IOTA Price Over The Past 24 Hours
Over the past 24 hours, IOTA fell by 5%. The currency started the day at $1.14 – quickly peaked at $1.15 – the highest point of the day. However, it was all a downhill ride from here as IOTA prices fell from $1.15 to $1.09 over the course of the 24 hour period, with the lowest point coming in at $1.07. IOTA began the day with a market cap of $3.17 Billion and closed the day at $3.022 Billion.
IOTA Price Over The Past 7 Days
Over the past 7 days, IOTA prices have fallen from $1.32 to $1.09. The lowest point of the week came at $1.05. IOTA's market cap over the week fell from $3.72 Billion to $3.022 Billion. IOTA lost $700 Million over the week, averaging it out to $100 Million being lost every day!
IOTA Price Expectations
IOTA hasn't really impressed the markets over the past couple of weeks, but as prices continue to go low – it is expected that more and more investors would flock towards the currency as the market bulls get enticed by these low prices. For those looking forward to buy IOTA, the next two to three days should present a great opportunity. The $1 Mark is very critical for IOTA as that is the major line of support for them. It appears to be quite strong, but if breached, the currency may have a hard time recuperating from this loss.
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Disclaimer: Neither the management nor the authors at CryptoCrimson are responsible for any losses, financial or otherwise, which may occur due to investing based on our articles. These are market predictions – which are not set in stone. The information provided is only for educational purposes and cannot be considered a financial advice.