What Coin to Buy: IOTA Rating

IOTA Suggested Exchange: Bitfinex.com
IOTA Rating: HOLD
IOTA Ticker: MIOTA

IOTA is a coin that came out of nowhere to suddenly have the 5th largest market cap of any coin, out doing even old favourites such as Monero and Litecoin. This huge growth makes IOTA very hard to ignore. It also begs a few questions. Yes the underlying technology of IOTA seems solid and unique. However we worry that as a pre-mined coin the value of IOTA has possibly been artificially inflated by people holding huge quantities- and a dump by any one of them could cause a huge landslide in this currencies value. That being said this coin has held a solid one month uptrend, and it’s hard to ignore the possibility of it going higher. We have also noticed huge day-by-day swings over the weekend, of upwards of 10% in both directions from the $.90 mark. This coin could then be valuable for short term buys or botters. All in all we see this coin as having a huge risk factor attached to it- but it has plenty of potential to climb.  Bitfiniex itself has also been subject to recent scandal, docking it’s users over 30% of their holding values and closing down American operations- so holding vast sums of value there may make you feel uncomfortable. All in all, MIOTA is a dangerous proposition right now.

We rate this coin as HOLD, but be prepared to act quickly in response to aggressive market changes.

Be the first to comment

Leave a Reply

Your email address will not be published.


*