What's your prediction for the IOTA cryptocurrency in 2021?

 

What's your prediction for the IOTA cryptocurrency in 2021?

As we touched upon in the introduction, IOTA is a distributed ledger that makes it possible for people to make (and record) transactions between devices in the IoT ecosystem. Unlike the majority of other cryptocurrencies, IOTA doesn’t rely on a blockchain. Instead, it uses what is known as a decentralized Directed Acyclic Graph (DAG).
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A DAG uses nodes instead of blocks. While blockchains can be very vulnerable to attack (for example, using the 51% attack method), DAGs are generally considered to be more secure. This is because they allow for different chains of nodes to co-exist and connect with each other, resulting in a more impenetrable system. For the same reason, they are also more scalable than most blockchain-based platforms.

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Much like the relationship between Ethereum and Ether (or Cardano and ADA), it’s important to remember that IOTA is the name of the DAG platform while MIOTA is the name of the native cryptocurrency. The crypto was founded in 2015 by David Sønstebø, Dominik Schiener, Sergey Ivancheglo, and Serguei Popov. They hoped that MIOTA would provide an easy way for consumers and professionals alike to pay money into the IoT ecosystem — for example, to buy groceries via a smart fridge or fill a smart car with petrol.

IOTA price forecast for 2021

What are crypto experts forecasting for IOTA (MIOTA) in 2021?

With the Internet of Things becoming increasingly powerful, many crypto analysts foresee potential growth for the price of MIOTA. However, cryptocurrencies are notoriously volatile, and MIOTA is no different — so if you’re considering adding the asset to your portfolio, it’s important to do your own research to stay on top of the cryptocurrency trends.


As we can see from the graph below, the crypto platform WalletInvestor has predicted that the price of MIOTA will experience a huge jump into the start of 2021, surpassing $1 for the first time since 2018. Although this spike won’t be long-lived, the price will remain higher than its current value of $0.251044 for the majority of the year, despite marked slumps and climbs:

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WalletInvestor’s algorithm does foresee a more bearish run towards the end of 2021, so if you prefer to hold mid-term positions, this is definitely something to bear in mind — whether you choose to sell your MIOTA at a higher price-point or hold your assets into 2020. But do other crypto platforms agree with this projection?

Trading Beasts has a slightly different outlook for the price of IOTA (MIOTA) in 2021. Its projections are much less volatile than those of WalletInvestor, with a high level of consistency between months. In fact, at the time of writing, Trading Beasts believes that the average price of MIOTA could range between $0.32 and $0.35 for the duration of the year, with the asset’s highest value of $0.3512678 coming in December.

Meanwhile, Previsioni Bitcoin has an even more optimistic outlook. The cryptocurrency platform believes that the second half of 2021 could herald exciting growth, with the price of MIOTA rocketing to over $2!

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As we can see from Previsioni Bitcoin’s graph, MIOTA could begin the year at a price of $0.333165 (compared to its current price of $0.251044) before enjoying a bullish run from March onwards. This will escalate in July when MIOTA will exceed $0.5 and continue to climb. By December 2021, the crypto will have almost quadrupled in price — hitting a staggering $2.01402 before the start of 2022.

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While this value is still less than half of MIOTA’s all-time high (ATH) of $5.3484, which it achieved in 2018, Previsioni Bitcoin’s predictions must be welcome news to current IOTA investors. On its website, the platform claims that it believes the ongoing adoption of cryptocurrency could be a driving factor in the success of MIOTA.

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