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Can IOTA regain its old strength for the next bull market?

 


What is IOTA?

IOTA is a blockchain protocol that aims to be a secure communication and payment protocol for the Internet of Things (IOT). It is intended to enable communication between machines and devices by exchanging data and values. The network was introduced in 2016 after a short design phase.

In contrast to the blockchain, IOTA uses the so-called “tangle”, a kind of network that is a related structure to the blockchain. This is based on the directed acyclic graph. This structure makes IOTA unique among cryptocurrencies. 


How has the IOTA price moved in the last few months?

In the last few months, IOTA's price has seen a sharp drop due to the overall falling prices in the bear market. The price of the crypto currency in the last bull market did not rise to the heights that the token had already reached in the 2017 bull market.


At the beginning of September 2021, the price of IOTA reached $2 again. Since this price increase, the price has gone downhill. By the turn of the year, the rate had dropped to $1.37. In the months that followed, the price continued to see massive losses. By April 2022, it had fallen to $0.67.

Cryptocurrency prices fell sharply, especially in May. This also applied to the IOTA course, which fell to $0.29. In June, the price saw another low at $0.25. As a result, the price was able to stabilize again slightly.


How has the price moved in the last few weeks?

Like the overall market, the IOTA token has seen a slight stabilization of the price in the last few weeks. In July and August, the cryptocurrency was even able to rise slightly again. The course rose to a value of over 0.36 dollars and thus over 25% in percentage terms. The percentage increase was even higher than that of Bitcoin.

In the last few days, the IOTA course has unfortunately seen increased losses again, as the market as a whole was on a downward trend. This is extremely typical of the cryptocurrency in recent years. Furthermore, IOTA has not yet been able to reach its prices from the 2017 bull market, when the price temporarily rose above 5 dollars.


Can IOTA regain previous heights in the future?

The biggest problem for IOTA in recent years has been the lack of further development of the extremely promising concept. The price rose in 2017 due to massive hype surrounding the Tangle concept and numerous collaborations with large companies such as Bosch.


In recent years, the project has not been able to develop in such a way that the Tangle concept has led to sufficient decentralization. The big promises made to the project could not be kept, so that the cryptocurrency continued to fall on the market. For a long time, the project lived only on the theoretical potential of the actual idea.


Recently, however, the network has been able to take some important steps in the right direction. The Coordicide update should finally increase scalability and decentralization at IOTA. Furthermore, at the end of 2021 there were airdrops in the Shimmer and Assembly network.


Is it still worth investing in IOTA?

For some time now, IOTA can no longer be found in the top 50 cryptocurrencies. At the moment there is no possible trend reversal in the price development either. There is still little trust in good work and further development in the network. Nevertheless, progress can be seen.


Even if an investment doesn't seem to make much sense based on the numbers at the moment, the potential is still huge. The price is so low at the moment that an investment could be worthwhile if you want to take a certain risk. This risk could be extremely worthwhile with IOTA in the long term. 

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