Cardano [ADA], Tether [USDT] and OmiseGO [OMG] are the only coins in the top 20 list to maintain the greenish signals. Bitcoin [BTC], at 2:38 PM UTC was seen to be trading below $8000 at $7953.01 with a 4.26% loss in its price in last 24 hours. Cardano, however, stands apart with a 7.11% gain in last 24 hours. The bull market has died out and the coins are looking for an uptrend. The coin market needs some big investments at this point in time to get it back on to a bullish trend. Majority of the coins are in a downtrend testing their respective supports. The coins are having a mixed combination of gains and losses in the hourly statistics and currently, it looks green for almost all the coins. A major gain is yet to be seen in any of the cryptocurrencies since the fall from the highs at the start of the day. The coin market capitalization at 2:46 PM UTC was seen to be at $320.889 billion.
Our sentiment analysis segment is carefully constructed after interviewing a group of investors, miners, skeptics, analysts, influencers, from around the world. This segment includes the opinions of experts on the current market trends and the possible outcomes of various cryptocurrencies in the future. The comments are delivered to you as it is to provide a wholesome picture to our readers. This analysis is focused on IOTA [MIOTA], which is currently at the 9th spot in the rankings.
At 2:51 PM UTC, IOTA was seen to be trading at $1.56 with a market capitalization of $4.326 billion. The coin experienced loss of 3.84% in the last 24 hours. But in last one month, the coin has had a gain of 55.64% which is the second best after OmiseGO [OMG]’s 56.64%. This remarkable feat was achieved by the coin when it hiked from $0.97 levels to peak at $0.69 which is the highest price since March 7th. IOTA had broken out of a falling wedge pattern which was previously observed. The coin is currently trading above an ascending trend line connecting the latest lows of price action.
Mike Torres, an IOTA investor from Lower Hutt says:
“The coin is looking to consolidate above the $1.50 mark and the stochastic RSI is heading towards an oversold position in the 4-hour chart of IOTA. There is a chance for the coin to go up beyond this mark and I don’t see any short term bullish trends. However the long term picture may vary.”
Ryan Morris, an altcoin miner from Atlanta says:
“Although the coin has shown some skills in the recent past and the HODLers are overjoyed at the present time, I can smell something fishy about the coin in the long run. The present moment appears to be a crucial point for the coin and if it fails to hold the support, it may plummet to the bottom going down as far as $0.359.”
Zack Mitchell, an IOTA respondent says:
“As far as market capitalization is concerned, IOTA belongs at least in the category of Ethereum and Bitcoin and may be beyond that. A market capitalization between 50 and 140 billion is expected for IOTA.”
To conclude, there is an almost equal number of bullish and bearish IOTA respondents. 52% of IOTA respondents are bullish as they feel that a major bullish reversal is going to happen. Another 48% of the IOTA respondents feel bearish as they feel that the coin is more likely to drop than to go up.