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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

IOTA Bulls May Dominate And Drive Prices To Q2 2019 Highs

Dalmas Ngetich
Dalmas Ngetich
1 year ago
2 mins read
technical analysis altcoins

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  • IOTA bouncing from Q1 2019 peaks
  • Azimuth, Coordicide, and release of Trinity bullish for IOTA

From Azimuth to Coordicide and the recent rollout of Trinity, IOTA is readying for a machine economy. As a leading IoT platform, fundamentals are bullish. Therefore, despite weakness, odds of price recovering are high.

IOTA Price Analysis

Fundamentals

In an automated data-driven future, there is no room for error. As a result,  IOTA is prepared and laying the framework, the necessary foundation for a secure network. Critics were slamming IOTA for their blockless, Proof-of-Work dependent consensus algorithm claiming the Coordinator was centralized.

Luckily for IOTA fans, developers are working overtime for a solution that will not only secure the network from one-third attacks, as that is what a determined hacker needs, but to make the platform as scalable and decentralized as possible. Coordicide is the solution. The option entails the complete removal of the Coordinator without compromising the security and efficiency of the network.

However, it doesn’t stop there. There are rafts of developments in progress. Top of the list is Azimuth. In a new consensus algorithm that is reliant on Proof-of-Work, Azimuth is all about efficiency. Azimuth, it appears, is a dedication. A show that developers are working their hands to the bone.

Basically, it is a spam protection mechanism that is so efficient that it doesn’t need the computational power like in other proof-of-work systems. Because of autopeering, nodes will accept transactions from any neighboring nodes meaning small IoT devices can quickly join the IOTA ecosystem without wasting their computational resources.

As a result, not only will the IOTA ecosystem be more secure and scalable, but it is the essential cog required for a prosperous, revolutionizing machine-to-machine economy.

Candlestick Arrangement

IOTA

At the present time, IOTA is down the market cap rankings. Dropping to 19th, IOTA is wallowing and below NEO. Even so, it is stable and fundamental factors alone mean the coin is bullish. If anything, and in line with previous IOT/USD trade plans, buyers are in control.

Note that there is support from 40 cents. Trading within a bullish breakout pattern thanks to upswings of mid-May 2019, buyers are in the driving seat.

Concluding retests, IOTA bulls may end up printing higher this week. Accordingly, every low is an entry opportunity for aggressive traders aiming at 55 cents or May high. Contrarily, If there is liquidation below 40 cents complete with high trade volumes, prices may tumble to May low of around 30 cents.

Technical Indicators

Ideally, the reversal of June 27 losses at the back of high participation exceeding 17 million of June 26 is bullish. As mentioned, that will open the flood doors for 55 cents or better in coming weeks in a trend continuation phase, the third phase of a classic breakout pattern.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

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Dalmas Ngetich
Dalmas Ngetich

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

Read more

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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