BitTorrent Fundamental Analysis
BitTorrent is the native crypto to the eponymous platform that works with the P2P protocol. It offers Internet users access to download various multimedia files. Certainly, it is one of the first platforms that dealt with this sector, and it has been maintained over time. The reason for its creation is related to the possibility of making faster downloads. The cryptocurrency that is linked to this platform is basically used to drive the project. It rewards people who use the application, in order to increase the level of transactions with the cryptocurrency. Thus, BTT also achieves a favorable position in the market and creates an environment where everyone wins. It is a token based on the TRON cryptocurrency protocol which is why BTT is also decentralized. BTT allows you to earn money just by downloading files. Despite being a relatively young cryptocurrency, it already has an excellent acceptance. What is really special about the BitTorrent project is that it offers a real solution when uploading and downloading large files. It must be said that BTT is a pillar of BitTorrent Speed, and without this cryptocurrency, this project could practically not be financed.
BitTorrent Live Price Chart
BTT’s price has been relatively low for most of its existence, trading under $0.0005 in 2020 and in the beginning of 2021. It started climbing up in February 2021, breaking the ~$0.0017 mark several times, and later experiencing a truly meteoric rise to ~$0.014 in early April. This surge might have been caused by Justin Sun’s, who is the CEO of TRON (BTT’s owner company), acquisition of Poloniex — an exchange that allows users to stake their crypto for rewards. This move drove BTT’s price up since BTT’s listing on Poloniex caused some users to stake their funds, lowering the circulating supply, and also drummed up some interest for this currency. However, BTT didn’t enjoy this success very long: soon after peaking, BTT’s price started its long decline, reaching around $0.003 in June, 2021. Long-term forecasts are still predicting growth, but it will probably depend on the health of the Bittorrent network as a whole.
BitTorrent Technical Analysis
Despite the fact that 100% accurate technical analysis for BitTorrent cryptocurrency is hardly possible, on this advanced technical analysis tool by TradingView you can see the real-time aggregated BTT buy-and-sell rating for selected timeframe. The summary for BTT/USD is based on the most popular technical indicators — Moving Averages, Oscillators and Pivots.
BitTorrent Price Prediction
Below we have collected the most reliable price projections for BitTorrent (BTT) from popular forecast platforms.
#1. WalletInvestor BTT Price Prediction for 2021, 2023, 2025
According to WalletInvestor, BitTorrent price will grow from $0.002593 to $0.00787 in one year. That makes BTT an awesome investment. The long-term earning potential is 203.51%. Predicted price for the end of 2026 is $0.0293.
#2. TradingBeasts BTT Price Prediction for 2022
Answering the question about if BitTorrent is a good investment, TradingBeasts say a resounding yes. In the 2021 perspective, this coin price is predicted to reach $0.0035807 with a growth to $0.0042571 by the end of 2022.
#3. DigitalCoin BTT Price Forecast for 2021, 2022, 2023, 2025
In DigitalCoin analysis, the price of Blocktrade Token cryptocurrency will rise in the next 5 years starting from $0 as of today’s price to $0. It will go up to $0 by 2022 and starts its reduction in 2023–2024. Based on this forecast, Blocktrade Token is a profitable long-term investment.
#4. LongForecast BTT Price prediction for 2021–2022
In 2021, the average BitTorrent price will go up to $0.0032643. In 2022, BitTorrent’s price will rise significantly to an average of $0.0045958.
As it can be clear from the analysis cited above, BitTorrent (BTT) projections are rather contradictory. There is no universal consensus either about positive or negative future BTT price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the BitTorrent projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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