BitTorrent facilitates peer-to-peer file sharing in the crypto world. Many torrent enthusiasts have known the platform since 2001 as a hub for movies, music, books, etc.
But in 2018, TRON bought the torrent site and expanded its functionalities, adding more tools and releasing a native token, BTT. Since its launch in 2019, the utility token price has recorded dips and rallies.
Currently, the cryptocurrency market is suffering an extended bearish trend with no hope of a reversal in the short term. But amid the chaos, BitTorrent cryptocurrency currently trades at $0.0000006796, indicating a 1.15% increase in 24 hours.
But what is BitTorrent price prediction from 2022, 2023, to 2030? Are analysts optimistic about a positive future price? Keep reading to learn expert BTT crypto price prediction.
What Is BitTorrent (BTT)
According to the developers, BitTorrent is the largest decentralized peer-to-peer communication protocol worldwide. The network is interoperable with other blockchains, including Binance Smart Chain and TRON.
BTT is the native token based on the TRC-10 standard. The utility token facilitates the operations of many decentralized finance protocols and apps. Some of its apps include BitTorrent speed, DLive, BitTorrent File System, etc.
BTT is available on many exchanges in the crypto market, including MEXC, Binance, OKX, CoinW, and BTCEX. It facilitates funds transfers and supports smart contract deployments.
The launch of the Bittorrent chain BTTC in 2021 redenominated the token and expanded BitTorrent support for more blockchains, including Ethereum. It also positioned it to facilitate asset transfers in a decentralized manner.
The chain goes by BTTC on Binance but still maintains BitTorrent-New or BTT on other crypto exchanges. BitTorrent now has BITTOLD and BTT, which developers announced will exist together for some time.
A brief history of BTT cryptocurrency.
Bram Cohen created the BitTorrent file-sharing platform in 2001. In 2018, BitTorrent became the property of TRON through an acquisition. The ownership passed from Cohen to Justin Sun.
One year later, TRON developers launched the native token BTT using the TRC-10 standard on the blockchain. In December 2021, the developers launched the Bittorrent chain mainnet and redenominated BTT to expand its use cases and support more chains.
What protocol it uses
Currently, BTT cryptocurrency uses the proof-of-stake consensus mechanism to ensure the network's security. Being a hub for smart contracts, the blockchain uses validators to ensure the accuracy of all transactions.
Holders of the BTT tokens on the BTTC mainnet can stake their tokens to become validators and earn rewards. The stakers earn rewards in the proportion of their tokens locked, but the proposer earns an additional percentage.
The selection of validators on BTTC follows, and an auction process on-chain takes place regularly. Once selected, the validators become either the producers or verifiers and run a full node on the network.
What makes it different from other cryptocurrencies
Many crypto projects offer diverse value propositions to investors, including BitTorrent. The network is different from others in the following areas.
- Value proposition
Currently, BitTorrent stands as the largest decentralized peer-to-peer communication protocol. Apart from file-sharing support, it has now expanded in support for smart contracts and blockchain interoperability with the launch of the BTTC mainnet.
- Advanced features
BitTorrent advanced features include DLive, BitTorrent File System, Bittorrent chain Speed, Bittorrent chain File System, etc. The network also offers premium features such as Virtual Privacy Network access and ad blocking.
- Lightning speed
The network completes transactions at a lightning-fast speed, better than many decentralized finance protocols on the Ethereum blockchain.
With the BitTorrent speed, users can buy more bandwidth and download speed from providers with BTTC.
BitTorrent BTT at a glance
Factors Influencing BitTorrent Price
Regarding digital currencies, several factors influence the possible price trend. Below are some factors that can move BTT price.
Demand and supply
Demand and supply play a vital role in the price of a crypto asset such as BitTorrent. Higher demand for BTT creates a spike in the token's price and vice versa.
Supply works in the opposite direction to demand. At the time of writing, BitTorrent has no available maximum supply, but a circulating supply of over 945 trillion BTT.
Without a total supply, BitTorrent could oversaturate the market, thereby losing value unless the developers implement a burning mechanism for circulating tokens.
Bitcoin price
Bitcoin is the first and most prominent cryptocurrency. The price of Bitcoin impacts almost all virtual assets, including BitTorrent. So, a rise in Bitcoin price will also cause BitTorrent prices to increase.
But the drop in the price of Bitcoin will cause a dip for BTT. Most investors will decide to dump BTT as they go for the primary cryptocurrency.
Macroeconomic factors
Over time, the crypto market has reacted to macroeconomics, such as regulations, inflation rates, recession, interest rates, monetary policies, etc. These factors can push BTT prices upwards or downwards.
For instance, if a country decides to ban crypto assets, this would drive down BTT prices as people avoid crypto investments. But if it regulates a token, citizens will venture into the cryptocurrency, thereby hiking BTT price due to high demand.
Technological innovations
Innovative advancements will always promote the growth of a project. The technology underneath a crypto protocol influences its price. If the developers of BitTorrent make some upgrades and improvements to the protocol, this will raise the confidence of users in BTT. Hence, the price of the coin will take to the north.
BitTorrent Price Performance In The Past
The past performance of BTT in price has always reacted to the general market movements. Let’s trace the price movements based on the sector trends.
Token launch price movement
The token launched in January 2019 through an ICO at the price of $0.00012 per token. The developers distributed 6% of its total supply during the initial coin offering, raising $7.2 million.
BTT didn’t grow much in price in 2019 until February 10, 2020, when it started adding gradually.
2021 bull market
In 2021, BTT recorded impressive gains in its price performance from January to May. The price growth took off on January 25, 2021, and continued growing until reaching a peak price on May 29, 2021. Then a price drop occurred and continued throughout the year.
BTT price movements in 2022
By December 12, 2021, the BTTC mainnet went live and redenominated the crypto creating BTT and BITTOLD.
BTT price reacted positively after the mainnet launch and rose above $0.000003054 by January 18, 2022. This was when BTT hit its all-time high. But this price didn't last, and the token faced rejection.
Crypto winter and BTT price
The long bearish trend of 2022 in the crypto market also pushed the price of BTT down. From May 2022 to June 11, the token recorded price dips, just like other cryptos in the market. BTT price continued falling until August 11, when it started gaining again to $0.000001014.
How Is Bittorrent BTT Doing Now? Is BitTorrent Price Prediction Bullish Or Bearish
Source: TradingView BTTUSD Price Chart
The current price of BTT stands at $0.0000006777, indicating a price gain of 1.44% in 24 hours. This price level shows a loss of 77.79% from its all-time high on January 18, 2022. However, the token has grown by 6.68% from its all-time low of $0.000000636 on November 22, 2022.
The market cap as of November 25, 2022, is $640,684,623.13, showing a gain of 1.44%. The 24-hour trading volume stands at $22,973,364.24, representing an increase of 35.79% from its November 24 level.
Even with the ongoing FTX crash contagion, BitTorrent price prediction for the long term is positive. BTT now ranks 58 on CoinMarketCap, making it part of the top 100 cryptos in the industry.
BitTorrent BTT Price Prediction Today
Source CoinMarketCap BTT Price Chart
BTT price prediction today, November 25, shows that its price might record more price gains before the day runs out. Its current price of $0.0000006776 shows a growth of 1.57% over the last 24 hours. Experts believe the token will gain gradually today, all things being normal.
Based on other indicators, such as the Fear & Greed Index at 20 (Extreme Fear), 14-Day RSI at 45.97, and Sentiment at Neutral, analysts’ technical analysis predicts a gain of 3.06% by November 30.
BitTorrent Price Prediction For December
Below is the BTT crypto price prediction for December 2022.
Long-Term BitTorrent Price Prediction For 2023
Below is the month-by-month BitTorrent cryptocurrency forecast for 2023.
Long-Term BitTorrent Price Prediction For 2023 – 2030
Below is the token price prediction from 2023 to 2030
Long-Term BitTorrent Price Prediction By Experts
Before investing in BTT, consider some experts' predictions below.
Price prediction by WalletInvestor
Based on technical analysis, data from Walletinvestor.com provides a future BitTorrent price prediction. A one-year forecast placed the token at $0.000000042, representing over a 95% drop from its value as of today.
Price prediction by the Economy forecast academy
The Economy Forecast Agency gave a long-term price prediction for Bittorrent cryptocurrency. It predicted the token hitting $0.00000083 in 2023, $0.00000034 in 2024, and $0.00000045 in 2025.
Price prediction by DigitalCoinPrice
For DigitalCoinPrice, gave a BTT price prediction that indicates a gradual increase at the end of 2022 as the token hits $0.000000798. The average price forecast of $0.00000160 for 2023, $0.00000234 for 2024, and $0.00000298 for 2025.
Price prediction by Traders Union
According to Traders Union, the technical indicator measuring the price of BitTorrent reads Neutral as the current sentiment for the token. The experts predict the 2026 price of BTT at $0.00000099 at the beginning and $0.00000105 at year-end.
For 2027, Traders Union BitTorrent price prediction places the token at $0.00000114 at the beginning and $0.00000123 at the end of 2027.
Price Prediction By Margex
BitTorrent BTT has recorded some price dips and rallies as other assets in the market since the beginning of 2022. The FTX crash contagion has also pushed many trading asset prices down. Based on the current trend, Margex experts in crypto price trends have made BitTorrent price predictions for the next month.
BTT 50-day SMA is showing bearish signals. Also, the current price of $0.0000006758 shows that the token is trading below its 200-day SMA. Since August 7, the signal of the asset has been a strong SELL.
Based on technical indicators, the short-term 50-day simple moving average for BTT price prediction might hit $0.0000006686 by December 25. Also, its 200-day SMA will likely drop by December 25, 2022, to the $0.0000008172 level.
Source: TradingView BTTUSD price chart
The short-term outlook for BTT is not very encouraging, indicating that it's not a good investment option in the short term. The token predicted price for the year-end might be a minimum price of $0.00000130 and a maximum price of $0.00000146.
BTT will likely encounter resistance at $0.0000073 since the support at 0.0000065 has held. The bearish momentum will likely continue in the short term.
In the long term, Bittorrent price prediction shows the expected maximum price at the end of 2025 might be $0.00000554. But this price prediction might be possible if there is more adoption with favorable market sentiment.
Please note that these are price forecasts and not investment advice. These price estimates might change based on internal and external factors.
Conclusion
BitTorrent price prediction for the short term is bearish. But experts believe the token will see some uptrends in the years to come. So, if you’re aiming for short-term growth, the cryptocurrency price movement now is not encouraging.
Also, if you’re a trader, note that many token prices are extremely unpredictable due to recurring pump-and-dump scams in the market. So, it's better to choose a trading platform carefully.
Thankfully, Margex has proven to be a go-to platform for buying, selling, and trading crypto assets. The platform offers reliable crypto assets that can't be manipulated, such as BTC, ETH, USDT, USDC, TRX, DAI, AVAX, LINK, MATIC, etc. Also, Margex relies on 12+ liquidity providers, ensuring that the prices of assets are not inflated artificially.
The platform also offers 100X leverage and allows users to trade with their staked assets to earn more. Simply create an account, deposit with a credit/debit card or crypto and start trading.
FAQ- Common Questions On BitTorrent Price Prediction
Currently, BTT price prediction is bearish. But analysts believe that mass adoption and sector growth rate will push its price in the future.
Check some answers on future BTT price forecasts.
What is the BitTorrent BTT price forecast for 2030?
BitTorrent's price forecast for 2030 suggests that BTT will reach an average of $0.00002679 by the end of the first quarter. Following the Price predictions, BTT will reach an average of $0.00003529 and a maximum of $0.00004134 by the end of 2030.
Can BTT reach $100?
Like other cryptocurrencies, there is a possibility that BTT could reach $100. But following technical analysis, it will take a very long time before BTT can reach the $100 price level.
What will be the highest for BitTorrent?
Long-term BTT price forecasts revealed that the token could reach $0.00000067 by the end of 2022. BitTorrent's price may drop to $0.00000029 by the end of 2023. BitTorrent may reach $0.00000039 by the end of 2024 and $0.00000048 by the end of 2025.
Is the BTT token worth buying?
BTT is worth buying, but only for long-term investments because it has very high short-term volatility. Its user base is growing, and this can maintain its stability to an extent.
Should I invest in BTT?
BTT is a good investment only if you are considering holding it long-term. BitTorrent price prediction suggests that the price will flourish in the long run, so BTT is not good for short-term investment.
Cryptocurrencies generally are very volatile and high-risk investments. The bottom line is to invest money you can afford to lose.
