IOTA will plummet again
Yesterday IOTA has risen a lot. In another article I wrote a few days ago I stated that IOTA would go back to the price it had when it first entered the exchange. It's happening faster then I predicted. I've predicted it to go back to that price in a few weeks, but now it seems like it will actually be a few days. However such an enormous rise is almost always followed by an big fall.
Here's partly why. People have made a huge profit in a really short amount of time in a really volatile market. In this market a currency can go up one day by 30% and go down the other day by 30%. This means if you're in it for the short run, whenever you make a huge profit you want to cash that profit out right away, because that profit can be competely gone the next day.
What does this mean for IOTA in the coming weeks? Well I think it will plummet again. A lot of people that made a huge profit with the sudden rise of the price of IOTA want to cash that profit. So there will be more supply then demand on the exchange causing IOTA to plummet again.
Therefore I'll wait till IOTA has plummeted again and then buy it again much cheaper then it is now.
Let me know what you think and if you can think about the price trend of IOTA and if you're buying or selling (or holding of course). If there’s anything you would like me to cover or to clarify just let me know in the comments. And of course if you have questions about IOTA or cryptocurrency in general let me know via a comment and I will do my best to provide you with the best information I can give.
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All the best,
Nathan
Here is my take on IOTA which I replied on another post about this blockchain:
"I definitely think the IOTA concept is a great concept but I don't think companies like Samsung, LG, Bosch, Siemens, Logitech, all the big companies that make devices that connect to the internet for some reason, will jump on the IOTA train.
All those companies will, in my opinion, most definitely build their own blockchain/platform first. The world needs standards, but all those companies do not really want them.
So IOTA can be a nice short term investment but I don't see it being picked up collectively within the upcoming two or three years at least."
Thanks for you're take! I think it's really interesting what you're saying and I definitely agree for the most part. And these big companies are indeed looking to build their own platforms, just like a lot of banks are doing. I was thinking about investing in Ripple too, but because a lot of the banks are trying to develop their own blockchain I'm a bit hesitant. What's you're take on Ripple?
Good question! I've touched upon this matter myself also in another post. I'll paste it for you right below! I'll add to it that I personally have XRP in my possession because it's an opportunity I can't miss out on... but the odds aren't as 'secure' as how I feel about Stratis for example.
"This seems to be on everybody's mind. Will Ripple go to the moon or not? I certainly hope so and the company has a lot going for them. The problem is, is that they are trying to become the only partner all banks need... and banks, well they are heavily regulated and tend to think about maximizing profits. They want to have the infrastructure and software solutions in their own hands. While Ripple is claiming to work with over 60 banks/organizations now... there is still not a clear sign that they will become the new middleman, and thus successfully killing of Swift for example.
In the Netherlands and the EU it seems that they are working on their own Ripple-like system as I'm typing this and they want to run a pilot somewhere in 2018. Deadline for mass implementation is set on 2019 and in 2019 all Dutch payments will have to be fully executed in a maximum of 5 seconds.
So why did they not choose Ripple because it seems that it is exactly what Ripple can do and wants to do? That's the big question. Maybe they don't like or fully understand what XRP has to do with it, maybe they don't like the fees, maybe they don't want to rely on a third party...
Time will tell if Ripple will become successful but even so, the company and their XRP are two different things I believe and do they even want to see the XRP price to blow up to 1$ or 10$?"
Edit: 2. And I've written this:
"Ripple and XRP are two completely different things. Ripple is a consulting company and they consult with banks and other organizations. The want to move digital money from point A to point B. When doing so they give XRP almost for free to those banks so they can transport it.
XRP as we know it is the currency that we can buy, but why would we buy it? I don't think that Ripple wants the price to move up a lot... remember that's why they have millions of XRP in escrow so when that happens they can dump some XRP into the market effectively lowering the price again.
It's difficult to predict since we hardly see any information on what type of deals they are closing with the 60+ organizations they have mentioned..."
Very interesting again, thanks! Do you mean Ripple don't want the price of Ripple to go up to much because then the fees will relatively get higher?
Yes. That is my assumption. ;)
That sounds really likely to me! But that's not a good thing for the people invested in Ripple.
Even Ripple can't really explain the use of XRP for consumers like us well enough. So that makes me worry. I hope I'm wrong but I keep landing on this conclusion. Doesn't mean I'm selling my XRP though...
Yes I get that. I think the only purpose for us is that the price can go up and we can make money on Ripple.
I've followed you by the way, I think you're interested in a lot of the same stuff I'm interested in:)
Waiting for a plummeting price in an absolute bull market frenzy is pointless, unless you power down your PC, take months off and return after a big crash, full in a consequent bear market.
My take is that it all has to spike massively before we go into bust phase. Bitcoin price will act as signal.
Hi Wekkel thanks for you're reply. I partially agree with you, with the fact that their will be a huge spike in the coming months but because of the high volatility of the market, prices will plummet just as fast as they have risen. I think this has a lot to do with short term investors looking to make a quick buck.