This article will analyze the bearish and bullish scenarios for BitTorrent price prediction. BTT price is still trading sideways while most of the other cryptocurrencies are giving bullish signals. Technical analysis of BTT crypto has become slightly difficult due to its recent redenomination. In January 2022, BitTorrent crypto underwent a 1: 1000 redenomination, increasing its total supply. We will merge the charts of the old token and the new one for our BTT price prediction.
BitTorrent was initially just a torrent client which allowed users to browse and download torrent files. Tron acquired it in 2018 for $140 million. A Tron based TRC-10 asset BTT token was then integrated into it. According to the latest BitTorrent news, the BitTorrent blockchain is in development and has already been live since December 2021. As per the team, this new blockchain would be the first heterogeneous blockchain that would also have cross-chain functionality.
The massive circulating supply of 926 Trillion throws most of the bullish BitTorrent price predictions out of the window. In addition, Justin Sun’s exit from Tron has also intensified the BTT price downtrend. Nevertheless, consider a few possible BitTorrent coin price targets.
At the time of writing, BitTorrent price is trading at $0.00000210. The ongoing tensions in Eastern Europe and news of quantitative tightening have suppressed the global markets. BTT price is also more than 84% down from its April 21 ATH. The price needs to make a higher high than $0.00000450 soon, or the bears might gain full control.
Any lower low than $0.00000170 could turn things very ugly for BitTorrent price prediction. This may result in the BTT price plummeting below the $0.00000100 level, which would inflict max pain on the bulls. However, any higher high than $0.00000450 could make the BTT price prediction of $0.00000900 a reality. Therefore, proper risk management is necessary before entering into any BTT trade. In case you’re wondering ‘Where to buy BitTorrent Coin?’. You may buy it from any top exchanges like Binance, Poloniex and Uniswap.
This post was last modified on %s = human-readable time difference 13:15