A monthly high of $2.39 on 7 May was comparatively positive, but the price was soon on a downward spiral and by it was below $2. While 2021 had so far been very encouraging for Iota investors and enthusiasts, May saw things fall apart. There was a monthly high of $2.68 on 16 April 2021 and, while there was a dip below $2 between 22 April and 26 April, a recovery meant Iota closed the month at $2.15, a rise of 36%. Iota breached the $2 barrier when it hit an intraday high of $2.11 on 10 April, and the rest of the month was equally encouraging. The low of $1.02 came on the first day of the month and the closing figure of $1.58 represented a monthly upward movement of 41%. The monthly high of $1.78 came on 23 March but, perhaps more importantly, there was no point when the coin fell below $1. March 2021 saw the consistency of activity above $1 continue. There was some retreat but the closing mark for the month was higher than $1 at $1.12, which represented a rise of a rather spectacular 175%. This was the first time it had stood above that mark for two and a half years and, best of all for investors, the run was sustained, with the monthly high of $1.58 intraday on 19 February. This all changed on 11 February 2021, however, when the coin hit an intraday high of $1.31. While this was a rise of just under 40%, the price was yet to explode and Iota was still way below the psychologically important $1 mark. The coin reached a monthly high of $0.5042 on 19 January, before moving back down to close at $0.4071.
While the early months of 2021 were another bull market period for the cryptocurrency market, at first Iota was making good progress, rather than seeing the explosions that marked the time for many cryptos. As 2020 drew to a close, the coin was worth $0.2923. That crypto boom was followed by a crypto bust, however, and by the end of July 2018, Iota was back down to below $1, which is where it stayed for the next couple of years. Iota was one of the cryptocurrencies caught up in the excitement and, on 19 December that year, it was worth $5.69, a record price that stands to this day. Late 2017 and early 2018 was a boom time for crypto, with many coins going on a notable bull run. The coin’s price carried on trading in the middle of the sub-$1 range until the end of the year. On 15 June of that year, a MIOTA was worth $0.3637. Iota started trading on the open market in the middle of 2017. While past performance is never an indicator of future results, it is still worth looking at the MIOTA price history to understand how the crypto has behaved in the past and how it might respond to future events when making an Iota coin price prediction. The transactions issued by nodes constitute the site set of the tangle graph, which is the ledger for storing transactions.” Iota price history: 2021 “Instead of the global blockchain, there is a DAG that we call the tangle. The tangle naturally succeeds the blockchain as its next evolutionary step, and offers features that are required to establish a machine-to-machine micropayment system. The whitepaper goes on to say: “The main feature of this novel cryptocurrency is the tangle, a directed acyclic graph (DAG) for storing transactions.
The Iota system’s founding document The Tangle analyses the mathematical foundations of Iota, as “a cryptocurrency for the Internet-of-Things (IoT) industry”. For clarity, we will use the two terms MIOTA and Iota interchangeably when it comes to discussing the coin’s price history and the Iota price prediction.
It is important to note that Iota is traded in megaIotas ( MIOTA), or 1,000 Iota. The currency has a decent following, but what will happen to it in the future? Let’s take a look at a few Iota price forecasts and the principles that underline the Iota network. Iota is a crypto coin that aims to exist without the support of a blockchain.
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