Since its launch in 2000, BitTorrent has struggled to monetize its massively popular service into a profitable investment. To that end, BitTorrent was acquired by the Tron Foundation, creators of the Tron blockchain, in 2019. The new ownership then introduced BitTorrent to the crypto market to help expand BitTorrent protocol and incentivize the volume of users or traders on the network. Going by its market cap, it has become one of the best gainers in the shortest time.
BTT token is bought and spent by those who request data or wish to increase their download speed.
What is BitTorrent cryptocurrency?
BitTorrent is a peer-to-peer file-sharing market platform that has become more decentralized in recent times. BitTorrent provides a market of the most extensive file-sharing protocol with more than 100 million users.
Users on the TRON blockchain can use BitTorrent coin (BTT) to play along with content creators’ files on the network. BitTorrent cryptocurrency is now recognized as one of the most extensive peer-to-peer software in the cryptocurrency market.
How does BitTorrent token work?
BitTorrent is a software that connects parties accessing its network to compute file sharing requests at its core. Transactions begin when a user asks for files from the providers who host the files on their computer. Providers who host a file split them into several pieces. Thus, if requesters wish to download the said file, they receive pieces of the same file from multiple providers.
The expansion of BitTorrent into the cryptocurrency market was intended to make it a more distributed network, compensating providers while increasing the efficiency of sharing large files to reduce server and network impact.
2019
BitTorrent [BTT] has had a rough year since landing on the cryptocurrency 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 a closing price of around 0.0004 USD in the first two days. However, later in February, BTT launched a great start by surging as high as 0.0011 USD per cryptocurrency unit. An explosive pump was experienced in February. The BTT continued with this bearish momentum for several months. Later, BTT recorded its all-time high by reaching 0.01426 USD at the start of April.
In the third quarter, BTT plunged considerably to 0.001 USD and continued the fall until the quarter. By October 2019, BTT was trading at 0.0005 USD. Again, the coin experienced a significant downfall until the end of the year. At the end of December 2019, BTT received the needed support and was trading at $0.0003.
2020
With the market being bearish, BTT continued to show resistance. It traded at $0.0002 during the start of January 2020. The opposition continued, and it further climbed to 0.0005 USD by the mid of February. Later the coin value shockingly dropped to 0.00013 USD to record its all-time low in March due to the Covid-19 outbreak. Later, BTT started to surge significantly and touched the 0.0005 USD mark by August. The coin value experienced a significant fall until the middle of December. At the end of 2020, BTT plummeted to trade at 0.0002 USD.
BTT price predictions according to Wallet Investor
The cryptocurrency market is highly volatile, and significant changes can happen within minutes due to factors like regulations, competition, the emergence of new tech, trade, and market sentiments, and so on.
However, some cryptocurrency predictions are given by expert traders/enthusiasts or even forecasting websites for digital currencies on how BitTorrent would perform in the future based on the risks involved.
Its involvement in various adventurous projects like BitTorrent Web, BitTorrent Classic, and Bittorrent Android could ensure its value keeps up the momentum as per industry experts’ fundamental and technical analysis.
BTT price prediction by WalletInvestor
The BitTorrent BTT price, according to WalletInvestor, is forecasted to be at 0.0076 USD by Nov 2022. In 5 years, the prices will reach $0.02097. BitTorrent price equal to 0.00281 USD at 2022-01-02. If you buy BitTorrent for 100 dollars today, you will get a total of 35572.63 BTT. Based on WalletInvestor forecasts, a long-term increase is expected; the price prognosis for 2026-12-26 is 0.0180 US Dollars. With a 5-year investment, the revenue is expected to be around +540.57%. Your current $100 investment may be up to $640.57 in 2027.
BTT price prediction by TradingBeasts
Bittorrent price prediction by DigitalCoinPrice (2022-2028)
According to DigitalCoinPrice, the BTT price will start slow from 2021 with $0.0052160686 and rise to $0.0056920037 in 2022. Barring any randomness, the previous year’s bullishness will continue through the years. BTT is predicted to reach its all-time high in 2028 with $0.0154668227. The graphical representation of the bullish trend is presented below.
The BitTorrent price projection for this whole year remains quite encouraging, stating that it might jump to about $0.0055 in September and October and straight to the $0.0061 mark by the end of the year.
BTT price prediction by Cryptopolitan
BitTorrent Price Prediction 2022
The BitTorrent price forecast will indicate a positive trend among the receding Pandemic scenario, touching the $0.0058-$0.0055 mark.
BitTorrent forecast 2023
There is a predicted eventuality of the future price of BitTorrent, incurring a slight price drop between $0.008-0.0081 again.
BitTorrent Price Prediction 2024
BitTorrent will rule the crypto kingdom with a performance of price pegged between $0.0098-$0.010.
BitTorrent price Prediction 2025
Suppose the project BitTorrent stands the test of time and mass adoption. In that case, the price of BitTorrent will continue to surpass expectations, and a favorable Market will push the price upwards between $0.0086-$0.0094.
FAQs about BTT
How high can BTT go?
BTT’s current price is 0.0024. However, just like the projection for bitcoin price prediction, BitTorrent may reach up to $1 in the future. Its trading volume will be compared with XRP price value in the future at its current growth rate.
Is BitTorrent a good investment?
Yes, it might be a good investment if you plan for the long term. However, it is also a profitable investment in a short time.
Is BTT worth buying?
BTT is one of the cryptocurrency good projects by TRON that has moderate liquidity. The price action indicates it is a profitable investment. However, it’s best to trade with caution.
Where to trade BitTorrent?
BitTorrent can be traded on different crypto exchanges like DigiFinex, OKEx, VCC crypto Exchange, Binance crypto exchange, and many other popular crypto exchanges. In addition, you can buy BTT coins on these platforms with local currencies, such as the Indian rupee.
Source: https://www.cryptopolitan.com/bittorrent-btt-price-prediction/