IOTA Spiked to $0.43 and Aims To Reach $1 By Year-End After Transportation Deal With Austin

With the guidance of IoT technology, Blockchain is going to be used in the transportation sector for the first time. IOTA token appears to be attaining more heights. Now the IOTA Foundation has partnered with Austin’s transportation department in the US state of Texas.

According to experts, this new system will enjoy improved interoperability between locations and let the industry become cost-efficient.

The collaboration hopes to improve interoperability between multiple transportation systems. The technology is deployed by the partnership with the aim to solve the problems affecting the sector. They intend to make interoperability between transportation systems smoother. With this latest move, the price of IOTA is predicted to reach the $1 target by year-end.

IOTA Price Prediction

IOTA (MIOTA) Price Today – MIOTA/ USD

NamePrice
bitcoin
Bitcoin
$8,738.08-3.71%
iota
IOTA
$0.259-3.51%

The price of IOTA started the year in a positive way. The price reached its highest point on January 10 at $0.36. Note that fluctuations were common despite starting the year on a positive note. The lowest price point of the year for the price of IOTA was reached on February 6 at $0.23. The market capitalization of the coin as of April 15 was $880,802,770 now $1,063,854,494.

According to data given by coin market cap, the price of IOTA was $0.4320 at the time of writing this content. The digital asset is ranked number 16 among the top cryptos by market cap. It gained up 4.66% in the last 24 hours. The price of IOTA may gain more now that the network has entered a partnership with Austin’s transportation department.

IOTA Price Analysis

The all-time high of IOTA was recorded at 5.69 USD in December 2017. IOTA has been moving at a constant rate since the onset of 2019, and even the April market boom did not contribute to a very high price surge however it’s now that the price of the IOTA coin is finally showing a steep upward movement rising up to 44 USD recently. According to the latest price analysis on cryptonewsz; IOTA has the potential to reach up to 1 USD by the end of 2019 and can rise as much as 10 USD by the end of 2020.

When you look at the positive developments coming in for IOTA as well as the potential of the IoT technology, it is predicted that the price of IOTA will reach newer heights in the short-term. The coin will follow a bullish trend and hold it for the short-term. There will be resistance at $0.40, $0.45, and $0.5 and support at $0.2, $0.15, and $0.1 for the medium-term outlook. By year-end, IOTA’s price should be at $1.

New investors may buy at the current rate if they want to profit. The price of IOTA is going to increase going by the current market trends. Hence, long term holding should give investors at least 4 times the rate of the investment.

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Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.

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