Bitcoin

IOTA Price Breaks Through $5 Resistance as Path to $6 is Wide Open

The world of cryptocurrency is never boring, not even when the Bitcoinprice is struggling. While that aspect alone always makes things exciting, we also see the top currencies push back toe scape this gravitational pull. The IOTA price, for example, has surged above the $5 mark for the first time in over a week. In fact, a new all-time high was recorded in the past 36 hours. A very exciting development for IOTA holders, as this price movement wasn’t really expected.

IOTA Price Almost Reached $6 Earlier

While most of us will readily agree 2017 has been the year of Bitcoin, there is no reason to look past the momentum of some worthwhile altcoins. Although the opinions on IOTA may be somewhat divided right now, it is evident the IOTA price is firing on all cylinders. In fact, it has never been as high as it is right now, other than when the all-time high of $5.64 was recorded this morning. A very remarkable trend, to say the very least.

IOTA Price Breaks Through $5 Resistance as Path to $6 is Wide Open
IOTA Price Breaks Through $5 Resistance as Path to $6 is Wide Open

More specifically, it is the first time we see the IOTA price surpass $5. Although there have been a few attempts to get somewhat close to that value, the mental barrier was never breached successfully. Earlier today, we saw a massive IOTA price surge pushing the price from just under $4 all the way to a new all-time high of $5.64 in quick succession. It is incredible how far this altcoin has come, even though it was only “released” to the public not that long ago.

Right now, there is a small amount of IOTA price consolidation going on, although it hasn’t impacted the value all that much. More specifically, the IOTA price is still holding its own around the $5.45 level and it seems even bigger gains will be recorded later today. All altcoins which may have any form of impact on the future of cryptocurrencies are rising right now. It is evident a lot of people have high hopes for IOTA, although only time will tell if that optimism can be justified.

With over $1.38bn in 24-hourtrading volume, things are lookingpretty good for IOTA right now. This trading volume has been remarkably stable at the $1bn mark for a few days now, even though such a thing was seemingly unthinkable for altcoins a few months ago. Cryptocurrency is by far one of the most remarkable industries in the entire world, and this may very well be only the beginning of what could be a magnificent 2018. That is, barring any regulatory mishaps and shenanigans.

Bitfinex is the place to be I you want to trade IOTA these days. They were the first exchange to list this altcoin and they are still generating the most trading volume to this very day. Binance is in second place, although they generate “only” $286m in 24-hour volume. Coinone is the surprising entrant in the top three, as they successfully overtook Bittrex in terms of volume. This South Koreanexchange already trades IOTA above $6, which may be an indication of what is yet to come.

How all of this will play out for IOTA in the long run, remains to be determined. It is evident there is a lot of positive momentum across all marketsright now, and the next few days will be very intriguing for all cryptocurrencies. It seems feasible to assume we will see the IOTA price surpass $6 before the year is over, but it’s unclear if this can be a permanent trend in the long run. Good money will be made and lost, depending on how these markets evolve in the coming days.

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