IOTA Price Prediction and Analysis: Good news vs FUD, where will the price go? Sun, May 20
If you are interested in the previous IOTA (MIOTA) price analysis and news research, check out: IOTA Price Prediction and Analysis - Going up! Partnership with leading IoT project Kontakt.io, Friday May 18
Bitcoin's influence on the market
Bitcoin dominance in the cryptocurrency market equals 37.1%. The BTC/USD price movement looks rather positive, which may suggest a short bullish market among most of the currencies. The price rose significantly from $8183 to $8372 and it looks like it may try to attack the $9000 mark in next week, which will also impact other cryptocurrencies in a positive way.
Important IOTA News
University College London Cut Ties With IOTA Foundation
Even though the situation happened some time ago, few significant cryptocurrency news sites has been recently reporting about this rather negative IOTA news.
Due to legal threats made by IOTA foundation in terms of cybersecurity researchers, prestigious London College decided to terminate its ties with the IOTA Foundation. Moreover, UCL emphasis that other universities and colleges should follow them and terminate ties with foundations which threaten researchers with lawsuits. They have given an official statement: 'UCL Centre for Blockchain Technologies is no longer associated with the IOTA Foundation. In relation to recent news report, we reaffirm our support for open security research, as a prerequisite for understanding the assurances provided by any blockchain technology. It is inappropriate for security researchers to be subject to threats of legal action for disclosing their results.'
Many IOTA supporters see this as an attempt of spreading FUD among the currency, as there are many small but significant details that have been omitted. However, the whole situation and the fact that IOTA team hasn't solved the problem in a clear way may in a way temporary affect the price, as bad press usually does.
MIOTA added to Coinbase
Coinbase is one of the biggest and leading exchanges in the cryptocurrency world, therefore it's a dream and a big event for any coin to be added there. MIOTA couldn't have been listed on Coinbase earlier due to problems and uncertainties with its Trinity wallet, as well as the volume and popularity. Currently, being listed in a top 10 of coinmarketcap coins and updated wallet, the official news of listing MIOTA may come sooner or later and this can affect the price significantly.
MIOTA Price Movement Analysis
MIOTA has been going upwards in a confident manner, as the whole cryptocurrency market experience lots of greens. There has been quite significant price amplitudes and spikes with some notable raising MIOTA from $1.72 to $1.81 in a matter of hours. Sunday, May 20 brought the IOTA coin price to fluctuate around $1.75 region, while it has currently hit $1.8 mark.
IOTA Price Chart (MIOTA/USD), May 20:
The whole cryptocurrency market is looking very positive currently, therefore the price can be expected to raise for next couple of days, maybe exceeding $2 mark and then going even up to $2.5 region. There is also risk that the negative news may slow down the raise, however the upcoming features and Qubic protocol are still strong enough to pump the price significantly in the anticipation for the launch. You can read more about how Qubic may impact MIOTA price in this TokenTops article.
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