The market is currently showing signs of recovery on Friday after an entire week of bleeding. Digital assets were caught in yet another huge selloff in 2018 where the majority of the coins and altcoins have trimmed gains so much that they are trading below April lows. The slight recovery is great news to investors who have been grinding their teeth for a while now. Other investors are beginning to contemplate buying digital assets as the market rebounds. Therefore, this article is tailored in such a way that it simplifies the investment process by exploring two coins with the biggest potential to recover in August 2018 and as the year progresses.
DigiByte is a cryptocurrency that was launched four and a half years ago on a secure, faster and forward thinking blockchain technology. The platform works on the principles of decentralization, immutability, security, speed and scalability. DigiByte website explains:
“After 4.5 years of consistent, committed development, rapid community growth, and new use cases, the DigiByte Blockchain has become the world’s longest, fastest and most secure UTXO blockchain in existence.”
The Finder.com website releases market predictions for top ten cryptocurrencies in the market every month. The predictions also include other digital assets that show potential for growth. The predictions are published directly as released by the panel of experts. With regards to DigiByte, the panel expects the crypto to trade at $0.058 come September 1 while at the end of the year the price will have hit $0.095. These predictions show that DGB has a 42% potential growth by September 1 and a 132% growth by the end of 2018. The head of Bit Trade, Rabbi Ahmed is said to be the most optimistic and predicts DGB/USD to trade at $0.14 by the end of the year.
Another panellist, Yaroslav Tonkovidov, CEO at Finforge predicted DGB to trade at $0.11. Tonkovidov explains:
“DigiByte is one of the market’s favourite altcoins for speculative trading, given that it has the opportunity to retest its H&S formation at $0.062.”
At the time of writing DigiByte is trading at $0.028 and is up 6.58% in the last 24 hours against the US dollar. It has a market capitalization of $300 million and is currently ranked 32nd in the market.
IOTA, on the other hand, is a cryptocurrency project that has been developed to harness the power of Distributed Ledger Technology (DLT). “IOTA is a protocol that achieves consensus on the state of matters in a network. By having a cryptographically secure source of unified truth.” IOTA exists to redefine trust, value as well ownership in the current economy. The platform also strives to develop and integrate the Internet of Things (IoT) into the modern technology.
As per the data released by the industry analysts on Finder.com, IOTA price is predicted to trade at $1.1 – $1.5 by September 1. The lowest prediction was given by Joseph Raczynski at $1.1 while the highest by Rabbi Ahmed at $1.5. Another analyst by the name of Alisa Gus arrived at $1.25 to be traded by September 1. Gus said that given IOTA’s inclination to the Internet of Things, “it will do well and will go up. As most coins today, it has issues, but I remain hopeful they will continue being addressed.”
IOTA is currently trading at $0.59 and is down 6.18% in the last 24 hours. It has a market capitalization of $1.6 billion while its trading volume in the last 24 hours is $54 million.