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The big IOTA forecast for the end of 2022 – How high can MIOTA go in the fourth quarter?

 


What is IOTA (MIOTA)?

IOTA is a payment protocol that aims to represent the Internet of Things (IoT). In contrast to Bitcoin and other cryptocurrencies, IOTA does not use the blockchain, but the so-called "Tangle", a network of nodes. The IOTA token is given as MIOTA (millions of IOTA) due to the high number of tokens. 

The protocol was created in 2015 and was developed in Berlin by the German Dominick Schiener, who, unlike other founders, has stayed with the project over the years. The project is overseen by the non-profit organization IOTA Foundation. 


The Tangle is the basis of the protocol. This is a "network" of nodes, which is based on the directed, acyclic graph. This theoretically enables extremely high scalability, which makes the potential of IOTA huge. 


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

The MIOTA price has seen a sharper drop in recent months due to the bear market . In spring 2021, the MIOTA price was still able to reach a value of 2.36 US dollars. However, this was significantly lower than the all-time high of over $5 at the end of 2017. We also saw another price peak in the summer of 2021, but it was lower at $1.80.


In autumn and winter 2021 the price was already lower. This distinguishes MIOTA from other cryptocurrencies, most of which hit their all-time highs in November. With the onset of the bear market at the end of 2021, the MIOTA price continued to fall. The IOTA forecast for 2022 was negative. 

At the turn of the year, the MIOTA rate was only $1.37. In the coming months we saw a continuous drop in the MIOTA price. The price then fell to $0.25 in mid-June 2022 before stabilizing again. At the beginning of October, the MIOTA rate was still $0.26.


Why couldn't IOTA reach the previous prices?

In 2017, IOTA was the big shooting star on the crypto market. The IOTA token rose to a price of 5 dollars and partly to 4th place in the cryptocurrencies by market capitalization. This year the hype surrounding the project was enormous. The concept of the tangle convinced many investors and ensured that IOTA was considered the cryptocurrency of the future. The future IOTA forecast was excellent. 


In theory, the Tangle has enormous potential. It can achieve extremely higher scalability than the blockchain. But in the bear market of 2018 and beyond, IOTA was hardly able to develop further. Especially in the area of ​​decentralization, the network made little progress.


On the other hand, the founding team broke up over time and disputes arose within the IOTA Foundation. Ultimately, only Dominick Schiener remained. Due to these difficulties, the hype about IOTA has died down and in the last few months IOTA has even dropped out of the top 50. 


Can the IOTA forecast still be positive in the future?

If we look at IOTA's past, there is little evidence that the outlook for the cryptocurrency is positive in the future. However, we must note that IOTA has more often developed in the right direction in recent months. 


In 2019 there was great criticism that the Tangle was not decentralized enough due to the central coordinator, which extremely damaged the reputation and the course during this time. This year it was decided to go in the direction of IOTA 2.0. The update at IOTA is also known under the name Coordicide . 


Coordicide is said to include the removal of the central coordinator, making the IOTA network decentralized. This would be an important step into the future. The best-known and most modern blockchains are now completely decentralized. A decentralized IOTA Tangle could play out its strength of scalability in the future. 


What speaks against a good IOTA forecast?

Overall, IOTA is less well known outside of the German-speaking area than expected. Its hype in 2017 has flattened extremely, as evidenced by its rank outside the top 50 on Coinmarketcap. This is mainly due to the fact that the development speed at IOTA is generally far too low. The bull market of 2017 and the high IOTA price lived on early praise. 


At the moment IOTA is making slow but good progress towards decentralization . But overall, in 2022, IOTA has degenerated into a network in the "Internet of Things" niche. The volume of investments is currently not high enough for IOTA to stand out from other networks in the competition. 


What is the IOTA forecast for the end of 2022?

In the long-term future, IOTA could actually become relevant again when it can finally realize its potential. But in the short term, an increase in the MIOTA price in the next few weeks is rather unlikely. We see right now that the MIOTA price is close to its 2022 low at $0.26 and has barely risen in months. 

Little should change in the fourth quarter of 2022. IOTA is making greater progress in the area of ​​decentralization with Coordicide and side project Shimmer (SMR). But larger investment flows are unlikely to follow in the current bear market.


A slight increase in the MIOTA price could only occur if the Bitcoin price breaks out, so that the altcoins across the board follow the rise. But here, too, IOTA has moved less than other cryptocurrencies in the past. Therefore, we have to describe the IOTA forecast for the next 3 months as neutral. 


Is an investment in IOTA (MIOTA) worthwhile?

An investment in the MIOTA token is still an option for investors who continue to look at the potential of IOTA. In the meantime we can observe some positive developments at IOTA. It could actually be followed by a bigger price increase in the next bull market. 


If you want to invest in the MIOTA token, you should not hope for a short-term positive IOTA forecast, but rather invest in the long term. However, should IOTA reach its potential in the future, there is still a possibility for strong price increases. 

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