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IOTA (MIOTA) Technical Analysis: Key Levels To Watch

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IOTA Chart

Now that the holiday season has ended and markets are beginning to normalize, volume should start to increase, especially in the cryptocurrency markets.

The lack of volume resulting from traders taking Christmas holiday vacations caused most of the high-flying cryptocurrencies to take a slight break from setting new all-time highs every few days and settle into a price consolidation period.

This break in market action has also given traders and investors an opportunity to take a look at some of the other, less-popular cryptocurrencies that have been quietly making rapid gains, albeit not as impressive as Bitcoin or Ethereum, but impressive nonetheless.

Furthermore, the beginning of a new year is when most investors, both personal and institutional, re-evaluate their investment portfolios and make adjustments according to current market conditions.

There’s no doubt that cryptocurrencies have garnered a great deal more consideration after the incredible gain made over 2017.

IOTA is one such cryptocurrency that is slowly gaining recognition by traders and investors alike.

First, from a fundamental perspective, IOTA’s Tangle technology solves some of the issues that blockchain technology used by some of the more popular cryptocurrencies such as Bitcoin and Ethereum, have yet to contend with scalability, processing time, and high fees.

In a “nutshell,” IOTA’s Tangle technology eliminates the need for mining, and consequently the need to pay fees to miners; therefore making it well suited for very small no-fee transactions which would otherwise not be cost effective for the end user, or the miner.

Also, by eliminating the mining process, transaction authentication is processed much faster, all the while maintaining a very high degree of security.

This will allow for the much broader application of the cryptocurrency, eventually fostering a higher demand for it.

Chart #1: IOTA Daily

From a technical Analysis perspective, IOTA is currently trading at $3.88, a far cry from the hundreds, or thousands of dollars that Ethereum or Bitcoin are presently priced at.

This makes IOTA a viable long-term investment on which a large-scale position can be taken with relatively little downside risk and a great deal of upside potential.

Unlike Ethereum or Bitcoin in which the potential downside makes a substantial investment very risky.

IOTA hit its all-time high of $5.80 on December 19, 2017.

It has since then formed a classic head-and-shoulder price reversal pattern which is very near completion (noted in Chart #1 above).

The completion of the pattern presents a win-win scenario.

At its current price, if IOTA reverses and drops in price, as head-and-shoulder usually patterns do, there’s not much downside for it to drop.

This presents an opportunity to enter long or add to existing positions, based on the aforementioned fundamental technology assessment.

If IOTA breaks through the upper key level labeled on Chart #1,  there will be plenty of future up-side potential to take advantage of.  We will be watching closely.

We will be updating our subscribers as soon as we know more. For the latest on IOTA, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of coinmarketcap.com

Bitcoin

Wisebitcoin Launches Professional-Grade Crypto Exchange

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Infrastructure is developing rapidly in the cryptocurrency industry, but the recent launch of the Wisebitcoin cryptocurrency exchange is nonetheless significant in terms of the immediate value it provides to cryptocurrency users. That’s because the exchange has had a beta version available since 2018 while continuing further developments in stealth mode, and already serves over 1.2 million end users with $6+ billion in 24 hour trading volume at the time of its official launch.

In addition to the large user base and deep liquidity, Wisebitcoin also stands out by offering up to 100x leverage to margin traders, with the ability to open a long or short position in their futures market. In the current bullish environment, leverage is a key way that experienced traders increase their exposure and try to profit from volatility.

For example, if a user opened a long position on ETH on January 2nd at a price of $750, they could have greatly multiplied their profits with even a small amount of leverage such as 5x as ETH reached over $1,100 within 48 hours. A simple unleveraged position would have netted $350 in profit, but a 5x position would have netted $1,750 and a 100x leveraged position would have netted an incredible $35,000 in profits from an initial investment of just $750. 

Beyond leverage, Wisebitcoin additionally offers a simple and…

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Bitcoin

ISW Holdings Continues to Transition Cash Assets into Bitcoin with $20K Purchase Ahead of Mining Launch

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ISW Holdings, Inc. (OTC: ISWH) (“ISW Holdings” or the “Company”), a global brand management holdings company, is pleased to announce that it is in the process of converting $20,000 of the Company’s cash holdings into Bitcoin. The Company also announces that it will be regularly conducting similar transactions on a quarterly basis to convert a percentage of cash flows into Bitcoin.

Management expects this transaction to be completed this week. The Company began transitioning cash resources into Bitcoin with an initial transaction in March 2019 at approximately $4,000/Bitcoin.

“We believe in the future of Bitcoin and digital payment systems, and cash represents an unproductive asset given the degree of monetary expansion, stimulus, and debt dragging down traditional currency systems,” commented Alonzo Pierce, President, and Chairman of ISW Holdings. “We are also on schedule to launch mining operations through our Pod5 solution at the Bit5ive renewable energy project by the end of January.” 

The Company formed a joint venture partnership with Bit5ive, LLC, (“Bit5ive”) in May to build and deliver an elegant, powerful, and efficient data center pod design. The Proceso Pod5ive Datacenter is the result. Designed in partnership with Bit5ive, and geared primarily for the cryptocurrency mining industry, the Proceso Pod5ive Datacenter offers next-generation dynamic self-management functionality, plug-and-play operation, virtually non-existent maintenance needs, and an industry best-in-class 1.06 Power Usage Effectiveness score.

The Company’s first mining pod is set to…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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