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IOTA Price Spikes 20%. Bosch Effect?

30 december 2018, 22:54 by Gilbert Hanson

IOTA Price Spikes 20%. Bosch Effect?

In the last two days price of MIOTA has increased rapidly despite of the price movements of rest of the cryptocurrencies. This trend is being linked to the wider adaptation of IoT technology among mainstream companies, with Bosch leading the way.

IOTA Price Analysis

On December 27th, IOTA was in a bit of a downtrend falling from highs of $0.33 from previous days. The bottom was then found at the level of $0.316 which a day later was a turning point for the crypto price of this asset. The price literally skyrocketed which can be easily noticed by the sudden upwards, almost vertical movement.

IOTA/USD Price Chart, Sunday December 30th:

IOTA MIOTA Price Chart

The initial top locked at the amount of $0.37 per MIOTA, which then corrected a bit in next days, falling first to the $0.35 region and then moving on to $0.34 on the morning of 30th of December. It is also worth noting, that on 29th, there was a very quick price pump or should we say an attempt for reaching higher levels, when MIOTA exceeded $0.37 once again. Currently, it is on its path to trying reaching that goal once again, this time looking more confident and prepared as the growth is slower and more stable. At the time of writing this article, the coin is trading at $0.3604.

Bosch and IOTA

While the sole news of Bosch researching IoT technologies is nothing new and has already been known for couple of months, recently the company has made some notable movements in that area, showing more designs and speaking further on the topic.

With posts titled as "Everything you need to know about IOTA, XDK2MAM and Bosch XDK", videos of working sensors and first interviews showing up on the Internet, the investors are starting to notice the opportunity of IOTA technology being applied by a mainstream and notable industry player such as Bosch.

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