Source : coinquora.com
- Bullish BTT price prediction ranges from $0.0046 to $0.0062.
- BTT prices might also reach $0.01 soon.
- BTT bearish market price prediction for 2021 is $0.003.
This BitTorrent (BTT) Price Prediction 2021 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 this year. To be specific, the crypto was able to achieve an all-time-high price of $0.0142 last April 05, 2021. This amazing performance of BTT enables the network to attract crypto investors around the world.
Furthermore, aside from its aggressive performance this 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 autoBTTally 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 $0.007. 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. 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.
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, OKEx, Bittrex, and Huobi Global, to name a few.
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 profit while holding the token.
BitTorrent (BTT) Technical Data
Two decades on, BTT continues 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. To note, 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) that will be the first scalable decentralized storage system.
- BitTorrent deduces its value from a 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 for 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 aid 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
BTT remains to be one of the most aggressive cryptocurrencies nowadays. According to CoinMarketCap, the BTT price is $0.0041. Notably, BTT was able to record an increased rate of almost +2% in the last 24 hours. For this reason, BTT’s reputation rises not just inside the TRON network but also in the entire crypto network.
In terms of its market standing, BTT market capitalization amounts to almost $2,702,856,645 with a 24-hour trading volume of $543,320,772. As a result, the crypto ranks as one of the top 100 cryptocurrencies in CoinMarketCap. With all these achievements, we can say that BTT has come a long way in developing its technology throughout the years.
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 2021
So far, BTT has been defending its market position well against the bearish market wild volatility. Is it enough to convince the global investors that BTT can rise and be 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 CoinQuora price analysis.
The above chart shows the Ascending Channel pattern of BTT. This is a bullish pattern that is formed by joining higher highs and higher lows. Based on the graph above, BitTorrent was able to defend its position well against the bears in the early days of the month.
In other words, BTT is gearing itself for a possible bullish rally in the days to come. If this happens, the crypto might go beyond its resistance level and reach the bullish price. Of course, this is most likely to happen if the bullish market continues to reside with BitTorrent.
Conversely, if the bulls turn against the crypto, the price of BTT might fall. In short, BTT might break out from its uptrend position and nosedive to a bearish price.
Furthermore, the Relative Strength Index (RSI) is at 57.05, which means that BTT is in a nearly oversold state. As a result, this may lead to a price reversal at any given time.
Let us also look down for the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of BTT.
BTT is one of the potential cryptocurrencies this year. Since the start of 2021, BTT’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations and corrections right away.
BitTorrent (BTT) Price Prediction 2021
Currently, BTT holds 100th place on CoinMarketCap. Would the market performance be enough for BTT to maintain its bullish position in 2021? Are you excited to know the results? Well, what are we waiting for? Let’s get to the bottom of it in this BTT price prediction 2021.
In the short-to-mid term scenario for our BTT price prediction 2021, BTT has to break past the retracement level at $0.00628. To do this, it has to establish more support at the Fib level at $0.003. If not, bears may gain the upper hand and drag BTT to their territory.
Meanwhile, our long-term BTT price prediction for 2021 is bullish. Even more, it has a high possibility of reaching a new all-time high this year. However, that will only happen if it breaks past a number of psychological resistances.
BitTorrent (BTT) Price Prediction 2022
If this bullish trend continues, BTT will reach $0.0095 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $0.01. Then this rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $0.0095 is quite optimistic in the price point of view but undoubtedly feasible for the near future.
BitTorrent (BTT) Price Prediction 2023
The price of BTT can move even great heights, however reaching $0.015. Moreover, this is possible only if the market maintains its bullish trend. In addition, only if the cryptocurrency BTT breaks past the psychological resistance level.
BitTorrent (BTT) Price Prediction 2024
As per the latest upgrades, developments, BTT price prediction, and new project forecasts of the platform. Moreover, this might boost the price of BTT in the crypto market, and it will be the best investment as the price can spike and reach around $0.025.
BitTorrent (BTT) Price Prediction 2025
In the next four years, BTT prices could race up to $0.05. 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 a new ATH soon in the next five years as per the prediction.
With the continued strong marketing approach, we can say that BitTorrent has a bright future ahead in 2021. Bullish BTT price prediction 2021 is $0.006. As said above, it may even reach $0.01 if investors have decided that BTT is a good investment in 2021, 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.
BitTorrent is a popular peer-to-peer (P2P) file sharing and torrent platform which has become highly decentralized in recent years. BTT was purchased by blockchain platform TRON in July 2018.
The use of the BitTorrent protocol for sharing of copyrighted content generated a different type of novel legal issues. While the technology and related platforms are legal in many jurisdictions, law enforcement and prosecutorial agencies are aiming to address this avenue of copyright infringement.
BitTorrent’s native asset BTT is a good investment in 2021. However, crypto traders and investors need to take extra care when trading in cryptocurrencies, as these are extremely volatile.
To answer the question, Yes, BTT may reach $1 in the years to come but not now. In order to do that BTT must be able to increase its market capitalization and continue to burn its tokens.
BTT is a good investment depending on how you see it. For example, for the people that frequently use µTorrent and µTorrent classic, this platform truly benefits them.
The tokens can be bought in different cryptocurrency exchanges. For example, Binance, KuCoin, OKEx, Bittrex, and Huobi to name a few.
BitTorrent (BTT) price is expected to reach $0.0095 by 2022.
BitTorrent (BTT) price is expected to reach $0.015 by 2023.
BitTorrent (BTT) price is expected to reach $0.025 by 2024.
BitTorrent (BTT) price is expected to reach $0.05 by 2025.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.