When the weekend comes around, it is always difficult to make sense of the overall cryptocurrency market momentum. This weekend is no different, although a fair few markers suffer from bearish pressure. Very few offerings can buck this trend, and it would appear the IOTA price is feeling the pressure at this time.
IOTA Price Pressure Intensifies
It is not uncommon for the top crypto markets to flash some bearish signals during the weekend. Most of the weekends to date have resulted in either minor losses or very minor gains for these markets. Today, the pressure seems to be in full effect, especially now that Bitcoin has dipped in the red for no apparent reason. This usually doesn’t bode well for markets in the top 25, as IOTA clearly illustrates.
Over the past few hours, the IOTA price has lost 1.17% in USD value and 1.03% over Bitcoin. Because of these setbacks, the current price sits at $0.304924, or 7,463 Satoshi. Although these levels are still more than respectable, one has to wonder if things will remain anywhere near these values for much longer. After all, there is a good chance the bearish Bitcoin momentum will drive the MIOTA price down even further.
When glancing across social media, it seems the community is not too worried about the current price whatsoever. In fact, the Iota team has confirmed equity-free funding and a 12-month programme are available to IOTA and DLT developers, courtesy of LEDGER. This company is not to be confused with the hardware wallet manufacturers, as both companies are separate things. Another step forward for blockchain and IOTA, which is always a good sign.
€200,000 equity-free funding and 12-month programme available to IOTA and DLT development ecosystem for Human Centric Solutions via LEDGER, a European Commission funded project. Learn more: https://t.co/2gZ7DsN9EJ#IOTA #DLT
— IOTA (@iotatoken) March 29, 2019
It would also appear the OnePageX exchange team is making it easier for consumers and enthusiasts to purchase IOTA. Although it is one of the multiple supported currencies, their exchange widget can be integrated into any platform. This can drive global IOTA adoption forward, assuming there is any genuine interest in this particular offering.
— /r/IOTA (@Reddit_IOTA) March 29, 2019
Cryptocurrency traders who are not too keen on holding IOTA at this time may want to look into arbitrage trading. It would appear this particular altcoin offers an interesting option for profit when flipping coins between Binance and Gate. With a potential profit of over 3.4%, this opportunity will not necessarily remain accessible for very long.
— Arbing Tool (@ArbingTool) March 30, 2019
Even though the overall market trend looks rather bleak, it seems unlikely IOTA and consorts will note any steep losses in the coming days. That is, assuming Bitcoin doesn’t go on a crazy downward spiral, which always remains a distinct possibility. For now, the $0.304 level should hold where IOTA is concerned, although there will be some resistance along the way as well.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.