BitTorrent Price Prediction 2021 — Will BTT Hit $1 in 2021?

This BitTorrent (BTT) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our BTT price analysis and prediction.

BitTorrent (BTT) is one of the most active cryptocurrencies that took the crypto world by storm this year. To be specific,  the crypto was able to achieve an all-time-high price of $.0135 last April 05, 2021. This amazing performance of BTT enables the network to attract crypto investors around the world.

Furthermore, aside from its aggressive performance this year, BTT enables its users to earn more BTT tokens. In particular, the network rewards its users with BTT tokens by simply allowing seeding after every torrent file downloads. Best of all, all the reward tokens earned from the torrent file seeding will automatically be stored in the user’s wallet.

In this BTT price analysis and price prediction, we take a look at the performance of BTT if it will reach $1. But before that, let us learn more about what BitTorrent (BTT) is and its current position in the crypto market.

What is BitTorrent?

BitTorrent Token (BTT) is a TRON TRC-10 cryptocurrency launched by BitTorrent Inc. it aims to act as a transactional mechanism between service providers and BitTorrent clients. With the combined blockchain technology of TRON and BitTorrent, BTT was able to surge its token mass adoption. As a result, the BTT network was able to earn over 100 million users.

The BTT network, together with TRON, shared a vision of decentralized internet without barriers. This vision enables content creators and providers to connect and directly earn BTT tokens without any deduction from middle man or brokers.

For all the traders and investors that are interested in BTT tokens, the tokens can be bought in different crypto exchanges. For example, Binance, KuCoin, OKEx, Bittrex, and Huobi, to name a few.

Regarding the BTT token, the crypto can be used as a payment to get faster download speeds. On the other hand, traders and investors can stake their BTT tokens in various crypto platforms to earn more profit while holding the token.

BitTorrent Market Position

BTT remains to be one of the most aggressive cryptocurrencies nowadays. Despite the market fall, BTT was able to record an increased rate of almost +1500% in the past 12 mos. For this reason, BTT’s reputation rises not just inside the TRON network but also in the entire crypto network.

In terms of its market standing, BTT market capitalization amounts to almost $2.6 billion with a 24-hour trading volume of over $600 million. As a result, the crypto ranks as one of the top 50 cryptocurrencies in CoinGecko. With all these achievements, we can say that BTT has come a long way in developing its technology throughout the years.

Now that you already have an idea about what BTT cryptocurrency is, do you think BTT is a good investment this year? If you are already excited to know, come, and together let us check this BTT price analysis and price prediction article.

BTT Price Analysis 2021

So far, BTT has been defending its market position well against the bearish market wild volatility. Is it enough to convince the global investors that BTT can rise and be a profitable crypto this year?

Are you already interested to know? Therefore, what are you waiting for? Join me and together, let us see the charts in this CoinQuora price analysis.

As seen on the graph above, BTT is one of the cryptocurrencies that was hit hard by the bearish market. As a result, BTT experienced an initial price drop of -68% in April. This plummeting price of BTT continued to fall in May with a total decline rate of -81% from the previous ATH price of $.0135. With this, we can say that BTT is not in good shape to attract global investors.

Furthermore, the latest trading price of BTT remains under the Arnaud Legoux Moving Averages (ALMA) indicator, a bearish signal. If this keeps on, there is a big chance that the bears might completely take over BTT. In short, the price of BTT might even fall lower than -90%, a bearish price level that could cause FUD.

On the other hand, if BTT was able to open its price above the ALMA indicator, this could somehow turn the tide around. In other words, BTT might be able to regain its composure and head back to its uptrend position away from the bears. If it does, the crypto may have the chance to break its first resistance level which is +65.8% away from its bearish position. Truly, this is an event favored by traders and investors inside the crypto community.

Let us say that BTT was able to crush the first resistance level, the doors towards resistance level two will open. In this case, BTT must not waste time in taking the opportunity to reach it, which is just +68.8% away from its first resistance level. Of course, this is all possible if the bullish market continues to favor the crypto.

BitTorrent (BTT) – MACD

Meanwhile, the moving average convergence/divergence (MACD) of BTT is moving towards a bearish direction. Also, the above chart displays the bearish crossover performance of BTT this month. In this case, traders and investors must practice defensive trading and be mindful of the possibility of major price dive anytime. Hence, traders and investors can avoid the possibility of losing big funds.     

BTT Price Prediction 2021 to 2022

BTT remains one of the most favorite networks used by the crypto community to download and share files.

Would this be enough to make BitTorrent a profitable crypto from 2021 to 2022? Let us find out in this CoinQuora price prediction 2021 to 2022.

As depicted in the graph above, BTT continues to crash its price due to the series of market bloodbaths lately. Specifically, BTT positions itself below the Fibonacci golden ratio level of .618, a bearish position. If this keeps on, BTT might have a hard time climbing back to its uptrend position.

Today, BTT trades $.0036 per crypto above the Fibonacci level of .786. This trading price of BTT has declined at a rate of almost -50% in the past 30 days. In this event, we can say that BitTorrent is currently lurking in bearish territory. Therefore, BTT must be able to find a way to break past the Fibonacci level of .618.

If this happens, the crypto may have the chance to go over the Fibonacci level of 0.5 and 0.387, and touch the bullish price of $.009. Granted that, the pathway towards the skyrocketing price of $0.0135 will be in sight, a position that BTT must secure.

On the other hand, the graph above also shows the all-time-high price that BTT recorded last April this year. Specifically, BTT successfully hits the skyrocketing price of $0.0135 with a growth rate of over +3700%.

Let us say that BTT was able to achieve another +3700% growth rate performance, do you think BTT can reach $.25? Yes, there is a possibility that it might hit $.25 but not in this year, but in 2022.

Conversely, if the bullish market turns against BTT, this bullish price forecast may not happen at all at the given time frame. In other words, BTT price may fall further which can dismay global investors. If it does, BTT price may fall below $.002, a price level where the bears might flip this price to its new resistance level.

BitTorrent (BTT) – RSI

Meanwhile, the relative strength index (RSI) of the crypto is at level 31.40. This means that the price of the crypto is almost oversold. In this case, traders and investors must trade with caution to avoid the possibility of being hit by any major price reversal.

One possible thing that traders and investors should do is wait for the RSI to point in an upward direction after its oversold dip. However, there is also a possibility that the RSI might go back again to its bearish dip position. In this case, it is advisable to practice alertness and due diligence. In this way, traders can avoid losses that cannot be reverted back.

Conclusion

With the continued partnership of TRON and the BTT network, we can say that BTT has a bright future from 2021 to 2022. For this reason, the bullish price prediction of BTT from 2021 to 2022 is $.0135 up to $.25 On the other hand, BitTorrent’s bearish price prediction for 2021 is $.002

FAQ

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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Source: https://coinquora.com/btt-bittorrent-price-prediction-2021/