BitTorrent Price Prediction: Will BTT Price Rise & Shine in 2020?
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The blockchain is regarded as the fifth protocol. Latest to technologies like the internet, the blockchain now finds several use cases among which is file sharing. BitTorrent opens the way to 21st-century internet users to share files in the most secure way.
However, this BitTorrent price prediction focuses on the native cryptocurrency of the BitTorrent protocol, BTT. If you ever wonder about the prospects of this fast-growing cryptocurrency, then, you are in for a long enjoyable ride of BTT price prediction.
It will be much more interesting to know how the coin will be in the future days!! Also, get through this detailed guide of the BitTorrent price prediction.
What is BitTorrent?
BitTorrent was inaugurated early in the year 2019. The project’s native token, BTT comes in the form of a TRC-10 utility token which is only compatible with the TRON blockchain. In this design, platform content creators of all sorts are able to engage with their audience. Also, they are able to earn while they spend the cryptocurrency without any intermediary.
As of now, BitTorrent provides a platform for the largest file-sharing protocol with more than 100 million users. The TRON Foundation acquired the platform in 2018 but the project could not kickstart under its network until 2019.
Users on the TRON blockchain can use BTT to play along with the files that content creators share on the network. BitTorrent is now recognized as one of the largest peer-to-peer software that exists on the blockchain.
BitTorrent [BTT] price Today
BTT currently ranks 100 on the coin metric platform Coingecko. The cryptocurrency is trading at $0.000299 after plunging around 3% within the last 24 hours. It’s market capitalization is hovering around $63.5 million and $23.6 million exchanged volumes in the last 24 hours.
BitTorrent bent towards bearish market sentiment amid a generally crashing crypto market which began June 24 when Bitcoin fell slightly below the $9,600 level. As major altcoins nurtured the bearish common touch, BitTorrent had fallen from the $0.0003 level to its current position.
During the initial fall below the support at $0.0003 level, BTT had struggled to gain balance. Trying to move back above the $0.003 level, its price was immediately dampened by a selling pressure which persisted until now. Within the last day, BTT price has bottomed around the 0.00029 level it gained little momentum up to touch $0.000295 as of June 25, 09:41 hours UTC.
BitTorrent [BTT] Technical Analysis
BitTorrent [BTT] has had a rough year since landing on the crypto currency markets. Since its launch in 2019, the cryptocurrency has lost about 80% of its launching value.
Following its listing on CoinMarketCap on January 31, 2019, BTT traded at around $0.0004 in the first two days and had almost zero marketcap value. Its exchange volume was almost zero as well.
However, later in the month of February, BTT launched a great start by surging as high as $0.001 per unit of the cryptocurrency.
The explosive price pump experienced in February lasted until around the end of the first quarter of 2019 as prices kept up the momentum around the $0.0019. However, by the beginning of the second quarter, the price fell into a deep plunge which initially crashed the price to around $0.0012.
This was the first swing low of BTT’s price history. A protracted price consolidation dragged prices between the level till the beginning of the third quarter in July.
Into the third quarter, price plunged greatly to $0.001 and continued the downfall until the end of the quarter.
By October of 2019, BTT was trading at $0.0005. This was half of its third quarter price and by this time, market capitalization and exchange volumes had increased significantly. The price ranged at that price level until the end of the year.
BitTorrent Price Prediction 2020
In 2020, BTT experienced nothing more of a bearish price swing which aided the price in recording a new All-Time-Low (ATL) at around $0.00018. Entering into the year with a price tag of $0.0003, BTT has lost more than 60% year-till-date (YTD).
The price bottomed around mid-March when there was a general price plunge across cryptocurrency markets. The first wave of price movement was between January and March ranging between $0.0003 and $0.00018.
Since early April, there has been a progressive price increase which is aiming to bring the price of BTT back to its former glory. As of now, such price surge has catapulted prices back to the $0.0003 area with further upside in the possible zone.
As a result of the current usability of the platform, major analysis predicts that BTT will grow by more than 100% of its current price. By December 2020, the price may touch $0.0006.
BitTorrent Price Prediction 2021
As BitTorrent is anticipated to get decent assistance from several classifications of institutions, the price may run through in 2021.
BTT will have an incredible chance, this is why Netflix and Amazon Prime may likely cooperate with BitTorrent. The currency already has quite a big user base in the world, which is why it might establish a totally unique ecosystem in the realm of media and may also cooperate with Spotify.
Owing to all the above factors, the currency may reach $0.0080 by the end of 2021.
BitTorrent [BTT] 5 Years Price Prediction
BitTorrent has a great future. It is predicted that BTT may eventually be recognized as a top 10 cryptocurrency in the next couple of years. By around year 2025, may land a high price of around $0.01 and may even further the gains into the next couple of years.
BitTorrent [BTT] Market Price Prediction
- Wallet Investor prediction focuses on the bearish sentiment. According to the experts, BTT will have a negative difference in its future price. Plunging around 60%, WI says BTT will touch $0.000135 USD.
- DigitalCoin Price shows more optimism. In their BTT price prediction, they analyse the token to surge up to $0.0016 per unit.
- Coin Checkup appears to be super bullish on BTT. In their own perspective, BTT is analysed to reach a price of $0.0341 by the end of 2020.
Our BitTorrent [BTT] Price Prediction
We at Coinpedia have a bullish prediction of BitTorrent price by the end of the year. In December 2020, we recognize that BTT may reach as high as $0.0006 and reach up to $0.0012 in 2021. The next 5 years, we predict explosive growth for the formidable project. In this wise, BTT may be trading at around $0.008 in the next 5 years.
BitTorrent News
BitTorrent Web Pro is Available Now!
The platform announced the release of a web pro version of the interface in May. According to the announcement, available to Windows clients operating Google Chrome, BitTorrent Web Pro gives you more security when downloading torrents using the popular online torrent client.
BitTorrent Released A New Website
The BitTorrent team recently announced the launch of the platform’s new website. This was also announced in May.
DLive Joined BitTorrent Community
The BitTorrent team announced the addition of DLive to their community. This was made known earlier in the year.
FAQ’s
BitTorrent is a content dispersion system that allocates the downloads among peer downloaders.
The protocol was acquired by TRON Foundation and launched on the TRON blockchain in 2019
The native crypto is tagged BTT and currently trades at $0.000299
Yes, BTT may be trading around $0.0006 by the end of 2020.
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