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.
BitTorrent said that under its planned redenomination of its token BTT it has burned 541 billion BTTOLD representing 54.6% of the total. The old token is now named BTTOLD and the new one is BTT which launched in January.
Going by its market cap, it has become one of the best gainers in the shortest time. Along the way, we will take a look at BTT price analysis before we go into BTT price prediction.
BTT token is bought and spent by those who request data or wish to increase their download speed.
Today’s BitTorrent price today is $0.001038 USD with a 24-hour trading volume of $12,792.06. BitTorrent is down 13.85% in the last 24 hours. The current CoinMarketCap ranking is #211, with a live market cap of $1,028,099,011. It has a circulating supply of 990,000,000,000 BTTOLD coins and the max. supply is not available
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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.
BitTorrent reached its highest price on Apr 5, 2021 when it was trading at its all-time high of $ 0.013830. The lowest price since it’s ATH was $ 0.001798 (cycle low). The highest BTT price since the last cycle low was $ 0.005334 (cycle high). The BitTorrent price prediction sentiment is currently bearish.
History of BTT Price
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.
BitTorrent token [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.
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.
In 2021, the Tron Foundation and the BitTorrent Network decided to launch a network called BitTorrent Chain (BTTC). BTTC acts as a Layer 2 scalability solution and aims to address Tron’s cross-chain issues such as decentralized apps (Dapp), non-fungible tokens (NFT), and decentralized finance (DeFi). The result of this collaboration is the creation of BitTorrent Chain network. The token of this network is the same BTT token that is transferred to the BTTC network. Some distinctions exist although they are one and the same token:
- The name of the old BTT token has changed to BTTOLD and the new token has remained BTT.
- BTTOLD is a TRC10 token and the new BTT is a TRC20 token.
- The conversion ratio of BTTOLD to BTT will be 1:1000.
BTT’s Third Anniversary
The BitTorrent Token (BTT) is yet to celebrate its third birthday on January 20, 2022. Counting down events from the last year, the token team was able to deploy the world’s first decentralized live stream, the Dlive protocol.
Additionally, the coin’s market value surged to a whopping $3.5 million. Factors influencing the growth of the coin then can be attributed to Binance listing the BTT/TRX pair, as well as getting listed on BitPanda.
Besides, Kucoin also went on to list the BTT token in March of 2021. Well, there are lots of events to anticipate in 2022. First on the list is an announcement by Binance to support BTT’s token migration and redomination plan which is set out to take place on the 11th of January, 2022.
BitTorrent Token’s parent company BitTorrent took a different turn once it got acquired by TRON in 2018. The following would see the company launch the BTT cryptocurrency through the TRON blockchain. Which was a means to add more decentralization to the entertainment platform. The original founder of BitTorrent, Bram Cohen came up with the platform back in 2000. And since then, has been championing for files users to share files among themselves without breaking copyright laws.
How to Swap BTTOLD to BTT
Step 1 – Download and install TronLink wallet. TronLink wallet is available in both Google Chrome extension and Android and iOS apps.
Step 2 – Go to Chrome Web Store and search for TronLink and click on Add to Chrome.
Step 3 – Click on the Create Wallet button and scroll down the user agreement text and agree to the terms.
Step 4 – Enter a password that matches all four criteria so that they turn green. Enter the password again in the next box.
Step 5 – After you hit the Create Wallet button, make sure you backup your wallet. Send your old BTT to this wallet.
Step 6 – Head to BTT Swap app through this link.
Step 7 – On the top right corner, choose Connect Wallet and then click on Tron Network.
Step 8 In the pop-up window, click on Connect.
Step 9 – Choose the amount of BTTOLD you would like to swap to BTT and hit Confirm Swap.
- The Trigger Smart Contract message shows up. Click on Sign and wait for the smart contract to be confirmed.
- Click on Done to finish the swap process.
- To be able to see your new BTT tokens in the wallet, open TronLink wallet extension and click on + button.
Step 10 – Type in BTT and choose BTT (TRC20) from the list by clicking on + button.
Step 11 – Go back to the All Assets window by clicking on < button. Your balance of new BTT tokens must be shown in your assets.
BTT Technical Analysis
BitTorrent price analysis displays a bearish movement in the market, and the market maintains a negative direction, declining the price of BTT. After that, however, the cost of BTT experienced a crash and decreased to $0.00000103, from $0.00000108; on June 9, 2022.
Today, on June 10, 2022, the price has been experiencing a slight downtrend, causing the price of BTT to remain under the $0.00000103 mark. Furthermore, the cryptocurrency shows downside risks and is following a downward trend.
BitTorrent price analysis revealed the market following a solid bearish trend. However, the market volatility decreases, forcing the resistance and the support to move closer, making the cryptocurrency’s price more prone to volatility fluctuations. The BTT/USD price appears to be crossing under the Moving Average curve, making the market bearish. Therefore, the market shows immense reversal opportunities and possibly favors the bulls. However, the price is expected to continue toward a downward movement due to the current movement towards the support, as the price attempts to break the support soon.
BitTorrent price analysis reveals that the Relative Strength Index (RSI) score is 35 making BTT/USD fall in the undervalued region. As a result, the RSI follows a declining trend indicating a decreasing market and dominant selling activity.
BitTorrent price analysis has revealed a bearish market. Moreover, the market’s volatility appears to follow a decreasing trend, making BitTorrent’s price less vulnerable to volatility fluctuations. As a result, the upper limit of the Bollinger’s band is present at $0.00000119, which serves as the strongest resistance for BTT. Conversely, the lower limit of the Bollinger’s band exists at $0.00000099, which acts as the strongest support for BTT.
The BTT/USD price appears to cross under the curve of the Moving Average, signifying a bearish movement. On the other hand, the price seems to follow a downward activity, showing a constantly decreasing market. Finally, the price has been trying to break the support once again, which will cause a breakout in the market. The market dynamic will be shifted in the bulls’ favor and prove to be a silver lining.
BitTorrent price analysis reveals the Relative Strength Index (RSI) score of 32, signifying a significantly devalued cryptocurrency. Furthermore, the RSI falls in the undervalued region. Therefore, following a declining approach signals negative characteristics and represents the dominance of selling activities, causing the RSI score to decrease.
BitTorrent Price Predictions 2022-2030
Digital Coin Price
The BTT price forecast is predicted to reach the level of $0.00000140, according to forecast data analysis. BitTorrent (New) is predicted to reach a minimum charge of $0.00000130 before the end of the year. Furthermore, the BTT price has the potential to reach a maximum of $0.00000146. These BitTorrent BTT Price Prediction 2022 are essential knowledge for investors and holders of crypto assets.
According to their research, the BitTorrent predictions have been on the down for the past year, and BitTorrent has also been on the decline. According to their BitTorrent token price prediction, the cryptocurrencys’ future price will correct dramatically after a year.
By the beginning of December 2025, the BitTorrent coin price prediction is expected to hit $0.0000010. The expected maximum price is $0.0000018, while the smallest expected price is $0.0000012. The price of BitTorrent is expected to be about $0.0000014 by the end of 2025.
BitTorrent Price Prediction 2022
The price of BitTorrent is expected to reach a minimum of $0.00000222 in 2022. With an average selling price of $0.00000231, the BTT price may reach a maximum of $0.00000264.
BitTorrent Price Prediction 2023
In 2023, the price of BitTorrent is expected to reach a minimum of $0.00000315. Throughout 2023, the BitTorrent price might reach a maximum of $0.00000384, with an average price of $0.00000327.
BitTorrent Price Prediction 2024
The price of BitTorrent is expected to reach a minimum of $0.00000463 in 2024. With an average selling price of $0.00000479, the BTT price may reach a maximum of $0.00000551.
BitTorrent Price Prediction 2025
In 2025, the price of one BitTorrent is predicted to reach a minimum of $0.00000704. Throughout 2025, the BTT price might reach a maximum of $0.00000822, with an average BitTorrent price of $0.00000724.
BitTorrent Price Prediction 2026
In 2026, the lowest potential price for BitTorrent is expected to be $0.00000946. According to our research, the BitTorrent BTT price might hit a high of $0.00001204, with an average Bit price of $0.00000982.
BitTorrent Price Prediction 2027
The price of BitTorrent is expected to be about $0.00001444, at the very least, in 2027. BitTorrent’s price ranges between $0.00001673 to $0.00001673, with an average traded value of $0.00001483.
BitTorrent Price Prediction 2028
In 2028, the price of BitTorrent is expected to reach a minimum of $0.00002102. Throughout 2028, the BitTorrent price may reach a maximum of $0.00002524, with an average trading price of $0.00002176.
BitTorrent Price Prediction 2029
BitTorrent is anticipated to achieve a minimum price of $0.00003044 in 2029. With an average price of $0.00003131, the BTT price may reach a high of $0.00003665.
BitTorrent Price Prediction 2030
The predicted minimum price value of BitTorrent by the end of the current year should be $0.00004220, with the BTT price crossing an average price level of $0.00004376 in 2030. Furthermore, BTT has the potential to achieve a maximum price of $0.00005333.
When it comes to investing, caution is essential. Cryptocurrencies are extremely volatile, and values may go up as well as down. You should conduct your own research and never risk more money than you can afford to lose.
Regulations, competition, the advent of new technology, commerce, and market sentiments, among other variables, all contribute to the significant volatility of the cryptocurrency market. There are several cryptocurrency forecasts offered by skilled traders/enthusiasts or even digital currency predicting websites on how the BitTorrent file system will perform in the future depending on the dangers involved.
With good performance and more use for its token, we can see faster growth of its customer base. According to a fundamental and technical study by industry specialists, its engagement in numerous daring initiatives such as BitTorrent Web, BitTorrent Classic, and Bittorrent Android might assure its average price keeps up the momentum.
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