The market has opened the New Year in bearish territory. However, all through the last few weeks of 2018, one crypto has shown an element of resilience and potential bullish momentum, and that’s IOTA (MIOTA). In the last 7 days, IOTA (MIOTA) has been bullish, and is now consolidating above a major support level. This could be a signal to the fact that investor interest in IOTA (MIOTA) is on the rise. There are actually very good reasons to be long-term bullish on IOTA (MIOTA).
One of them is the nature of the industry that IOTA is targeting. IOTA (MIOTA) is targeted at the fast growing internet of things market, a market that is expected to be worth over a trillion dollars in the next decade. Given that IOTA has distinguished itself as the dominant DLT in this market, chances are that it will take a giant share of this market going into the future. This makes the prospects of IOTA (MIOTA) as an investment quite good in the long-term.
There is also the fact that, the infrastructure to support IOTA (MIOTA) is being built, and fast. For IoT to gain momentum, it needs to be supported by 5G networks. That’s because it is only through the superfast data transmission of 5G networks that devices can communicate effectively with each other, and create an interconnected web of autonomous machines. These networks are now on the rise all across the world. From Germany, Japan to the U.S, the roll out of 5G networks is picking up, and is expected to gain traction in 2019. With the infrastructure side of things getting better, IOTA (MIOTA) stands out as a viable, and highly undervalued cryptocurrencies even as the year starts in bearish territory.
On top of that, IOTA (MIOTA) is already showing strength in some of the industries where IoT will have the biggest impact. These industries include manufacturing, and the automobile industry. IOTA (MIOTA) has already shown signs of large scale adoption in the auto industry, with companies like Volkswagen working with it. IOTA’s partnership with Fujitsu also places it in a good position to dominate the manufacturing industry, as manufacturing continues to become more automated. Clearly, IOTA is one of the few DLTs whose use cases are fully defined and have clear cut industry usage, and it has the capacity to dominate.
Lastly, IOTA has the team to back it up. All through 2018, the IOTA Foundation has been beefing up its team with experts from different areas of practice. This is a signal that the team is good at what it does and that they do believe in the future of IOTA (MIOTA). This is a strength for IOTA and could play a major role in driving up the value of IOTA (MIOTA) for years to come. Already the IOTA team is looking into ways of eliminating the COO, and make IOTA decentralized and secure at the same time. Once they achieve this, there will be no limit on what IOTA (MIOTA) can achieve.