IOTA Price Analysis: On Track To Recovery, Begins The New Month On A Positive. Friday, November 2nd
IOTA Price Analysis- IOTA On Track To Recovery, Begins The New Month On A Positive
The crypto market is awash with cryptocurrencies in the green zone. The positive momentum that was triggered yesterday continues to dominate the market. This is great news for all crypto holders as they attempt to recover from the drop witnessed earlier in the week.
One coin that is on its way to make a recovery is IOTA. At the time of press, IOTA is hovering just above $0.47. In the last 24 hours, the coin has had a 2.27% price growth. The price growth is positioned right at the middle of the price growth range which is between 1% to 5%.
As we have been reporting, IOTA is on the rise following its project’s popularity in the automobile industry. Its application in IoT (Internet of Things) devices continues to grow as this industry continues to expand. In the coming months and years, it is expected that this industry will continue to grow and IOTA to grow with it.
However, like all other altcoins, IOTA will for now have to continue to suffer under the shadows of Bitcoin whose movements still dictate the movement of the whole market.
MIOTA/USD Price Chart, Friday November 2nd:
On, November 1, has seen the bulls move in on Bitcoin which has helped better position altcoins and boost confidence among holders. At the time of press, Bitcoin has seen a 0.79% price growth, although this remains low, it is exactly what is needed to get the market moving.
Although in October the crypto market was hit twice -on October 11 and 29th, the month of November has begun on a positive and the crypto community hopes that the positive momentum continues throughout the month. Many pundits predict that the general crypto market will end on a high but if this is to come true, the bulls will have to dominate the market for the next eight weeks.
For IOTA the coin is realistically poised to end the year on a $2.50 high.
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