IOTA (MIOTA): Bitcoin’s growing dominance, which now stands at 53%, is an indicator that lots of low quality altcoins are on their way out. Most of them are Ethereum-based tokens that were conduits for raising money for their founders, and have no real world utility. Others are outright scams! Unfortunately, most investors holding on to these tokens that they bought in ICO, or after they hit exchanges, are still holding on to them in the hope that they will rebound. They are caught up in a Fear of Cashing Out (FOCO), which could even lead to further losses in the future.
One possible way to rescue that money is by coming to terms with reality and jumping over into Bitcoin (BTC), and into rock solid projects that have real-world usage. Projects that have demonstrated some level of adoption. But one can argue that even those so called good projects are falling too. Well, the only difference at they stand a good chance to rebound while the other projects die off.
Unlike in 2017, when people were throwing money into literally every promising whitepaper in the market, investors are increasingly skeptical about crypto projects. This could explain why bitcoin dominance has surged, since by virtue of being the number one crypto, and attracting institutional interest, it has a higher level of validation amongst retail players.
Going by this analogy, it then follows that the next crypto Bull Run will be very different from what we saw in 2017. With fundamentals taking center stage, bitcoin could begin to rise, and pull with it strong altcoins, while everything else remains stuck in the red. What would follow is that low-value projects would see their volumes dry up, and with that, exchanges would start delisting them.
One altcoin that presents a great opportunity at the moment IOTA (MIOTA). IOTA has a strong standing in the market due to its potentially vast market, and that’s the IoT market. With the increased sophistication of artificial intelligence, and 5G becoming a reality, IoT is bound to transform all spheres of society. And since IOTA’s key features are perfectly in-line with the needs of this market, it follows that IOTA will be an integral part of the coming IoT revolution. It is a crypto that has value that transcends speculation.
Even the partnerships that IOTA (MIOTA) has inked so far are proof enough that it has value. Already it has VW, Audi as partners, partnerships that will draw in other auto industry players into IOTA. Besides, IOTA has a good team behind it.
Though they have their disagreements, they have emerged united, and have proven that they have what it takes to build IOTA into a top platform for IoT. This goes to show in a bull market, IOTA (MIOTA) will be among the cryptos that stand to shoot up in value. It’s one of the few projects that could be said to be highly undervalued at current prices.