This BitTorrent (BTT) Price Prediction article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our BTT price analysis and prediction.
BitTorrent (BTT) is one of the most active cryptocurrencies that took the crypto world by storm after it gave over 500% return on investment (ROI) in 2021. To be specific, the crypto was able to achieve an all-time-high price of $0.000003054 last January 18th, 2022 according to CoinMarketCap. This amazing performance of BTT enables the network to attract crypto investors around the world.
Furthermore, aside from its aggressive performance last year, BTT enables its users to earn more BTT tokens. In particular, the network rewards its users with BTT tokens by simply allowing seeding after every torrent file download. Best of all, all the reward tokens earned from the torrent file seeding will automatically be stored in the user’s wallet.
In this BTT price analysis and price prediction, we take a look at the performance of BTT if it will reach $0.00000176. But before that, let us learn more about what BitTorrent (BTT) is and its current position in the crypto market.
What is BitTorrent Token (BTT)?
BitTorrent Token (BTT) is a TRON TRC-10 cryptocurrency launched by BitTorrent Inc through Binance Launchpad in January 2019. It aims to act as a transactional mechanism between service providers and BitTorrent clients. With the combined blockchain technology of TRON and BitTorrent, BTT was able to surge its token mass adoption. As a result, the BTT network was able to earn over 100 million users.
The BTT network, together with TRON, shared a vision of decentralized internet without barriers. This vision enables content creators and providers to connect and directly earn BTT tokens without any deduction from middle man or brokers with no censorship of content.
For all the traders and investors that are interested in BTT tokens, the tokens can be bought in different crypto exchanges. For example, Binance, KuCoin, OKX, Bittrex, and Huobi Global, to name a few. Its most active exchange with the highest volume of trade is Pancakeswap.
Regarding the BTT token, the crypto can be used as a payment to get faster download speeds. On the other hand, traders and investors can stake their BTT tokens in various crypto platforms to earn more tokens while holding the token.
BitTorrent (BTT) Technical Data
Since BitTorrent was founded in September 2004 before it was bought in June 2018 by Tron founder Justin Sun it has continued to add more technologies to its ecosystem. Specifically, BitTorrent unveiled the world’s first decentralized Livestream Protocol called ‘DLive Protocol’. In light of its line of innovations, on October 30, 2021, BitTorrent announced the launch of the BitTorrent Chain (BTTC) test network. Note that BTTC is the first heterogeneous cross-chain interoperability protocol in the industry.
To that end, let’s take a look at some of the technical guidelines on how the BitTorrent system works.
- To solve the problem with traditional file storage systems, BitTorrent (BTT) hosted another DApp known as the BitTorrent File System (BTFS 2.0) which will be the first scalable decentralized storage system.
- BitTorrent deduces its value from utility, technology, and technical capacity. On the BitTorrent software, all file sharing and downloading are executed. All the same, the entire operations are recorded on the TRON blockchain.
- The TRON network creates a payment channel whenever a requester is paired with a provider. TRON then fixes and logs transactions after the payments are bundled and completed in batches.
- BitTorrent uses smart contracts to build decentralized applications and also aids in speed.
- The TRON network is secured through the Delegated Proof of Stake protocol. The PoS was developed to prevent rollbacks in the system when staking TRX.
BitTorrent (BTT) Current Market Status
As of the time of writing this BTT price analysis, BitTorrent coin price stands at $0.000000813040 with a 24-hour trading volume of $14,869,097. The price of BTT has decreased by 2.8% in the last 24 hours.
|Fully Diluted Valuation||$804,762,746|
|24 Hour Trading Volume||$14,869,097|
Currently, BTT has a current circulating supply of 932,028.89B BTT. The top cryptocurrency exchanges for BTT are Huobi Global, Binance, Gate.io, Kucoin, and others. Now, let’s proceed to the next part of this BTT price prediction for 2022.
Now that you already have an idea about what BTT cryptocurrency is, do you think BTT is a good investment this year? If you are already excited to know, come, and together let us check this BTT price analysis and price prediction article.
BitTorrent (BTT) Price Analysis 2022
So far, BTT has been defending its market position well against the bearish market wild volatility. Is it enough to convince global investors that BTT can rise and be a profitable crypto this year?
Are you already interested to know? Therefore, what are you waiting for? Join me and together, let us see the charts in this BitTorrent price analysis.
The Relative Strength Index (RSI) measures the relative momentum in the magnitude of recent price changes so as to deduce oversold or overbought assets. The RSI value of the BTT/USDT chart is at 58.42. This shows that BTT is showing a strong trend since it is between 50 and 70. This value could trigger a further bullish run if more buyers could be attracted to gain from the expected price increase.
From the Moving Average (MA) 30-day and 50-day chart for BTT, we can observe that both curves are below the last candle stick that was formed, while the 50-day MA is below the 30-day MA. This is a sign that the market would be bullish for long-term investors and that long-term investors would gain.
Is BitTorrent a good investment in 2022?
The chart below shows that BitTorrent (BTT) is on an uptrend in the past few days. If this trend continues, BTT might run along with the bulls, thereby hitting the $0.0000009 resistance level, and reaching to $0.0000017, the 2022 bullish signal.
Conversely, if investors move against the crypto, the price of BitTorrent (BTT) might decrease to $0.00000065 at a support level, though the price could plummet further.
Meanwhile, our long-term BTT price prediction for 2022 is bullish. It has a low possibility of trading around its present all-time of $0.000003054 this year. That will only happen if it breaks many previous psychological resistances.
If this bullish trend continues, BitTorrent (BTT) might reach $0.0000018 by the end of 2022. With upcoming, partnerships, and developments reaching $0.000002 is quite optimistic from the price point of view but undoubtedly feasible for the near future.
BitTorrent (BTT) Price Prediction 2023
If BTT has a relative strength index (RSI) that is above 60 in 2022, which means that a strong uptrend since more buyers are entering the market, is about to be formed, then the possibility of it reaching $0.0000034 by the end of 2023 has been narrowed.
BitTorrent (BTT) Price Prediction 2024
As per the latest upgrades, developments, BTT price prediction, and new project forecasts of the platform, BTT investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of BTT in the crypto market, and it will be on the list of the best investment as the price can spike and reach around $0.000007.
BitTorrent (BTT) Price Prediction 2025
In the next three years, BTT’s price could race up to $0.00001. However, reaching this level could not be so difficult for BTT as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that BTT has a high possibility of reaching new ATH soon in the next years as per the prediction.
With the continued strong marketing approach, we can say that BitTorrent has a bright future ahead for the rest of 2022. Bullish BTT price prediction for 2022 ranges from $0.00000176 to $0.000002. As said above, it may even reach $0.00000250 if investors have decided that BTT is a good investment in 2022, along with mainstream cryptocurrencies like Bitcoin and Ethereum.
With BitTorrent showing so much promise, BTT can be a great investment compared to other tokens in the crypto space, but only if invested at the right time with the right price measure as per our BitTorrent price prediction.