Bullish sentiment seems to be rising again in crypto. Bitcoin (BTC) has pushed above $4000, and most altcoins have recovered some of the losses they have accrued all through the year. If this momentum sustains up the end of the month, it could drive up positive sentiment in the retail segment of the market, and lead to a new bullish wave.
That’s because, part of the reason why the market has been heavily depressed is the lack of retail interest in crypto in 2018. After losing money from buying the market top, most people lost interest in crypto. However, like in all other markers, if the market shows signs of a sustained bullish sentiment, retail interest always returns. This makes current prices a huge opportunity to get into high potential altcoins that have the potential to outperform the market.
One crypto that holds so much potential in this market is IOTA (MIOTA) mainly due to its strong use case. As blockchain continues to evolve, speculation will give way to use case as the key driver to growth. The speculative wave of 2017 was driven by the excitement of learning about new technology for the first time. That’s why investors were throwing money at literally every project that came up. Today, the market is very different. The euphoria is gone, and the market is more sober, which is part of the main reasons why the ICO market is dead.
This also explains why fundamentally strong altcoins have been gaining in double digits since this bullish pump started 3 days ago. IOTA (MIOTA) happens to be one of the altcoins with the strongest fundamentals. IOTA is making in-roads in the trillion dollar IoT market, and is already winning over the car industry. With autonomous vehicles offering the next phase of growth for the auto industry, IOTA’s growing partnerships in this market could see it play an integral part in the development of smart vehicles, at scale. This is a major growth avenue for IOTA, and will play a role to the growth of IOTA (MIOTA)’s price, in the next bullish wave.
On top of its strong use case in the market, IOTA (MIOTA) has already implemented solutions to the problems that blockchain will face in the future. For instance, quantum computers could be very close to becoming a reality, and will create vulnerabilities for blockchain. IOTA solves this by using non-reusable addresses. While this has always been a source of IOTA (MIOTA) FUD, it will become its biggest asset in the future.
In fact, non-reusable addresses could be the norm in the blockchain ecosystem once quantum computers become the norm. This gives IOTA a head start on this front, and increases its chances of widespread usage. IOTA (MIOTA) also runs on DAG technology, which makes it infinitely scalable. This is a big deal because it places IOTA (MIOTA) in a good position to effectively compete with centralized systems and win. All these factors will drive IOTA (MIOTA)’s demand in a bullish market, where people are confident enough to get back into crypto.