- Bullish BitTorrent (BTT) price prediction 2022 is $1.3.
- Conservative BTT price prediction 2022 is $0.3.
- BitTorrent has been redenominated and is now using its own blockchain.
Important: This BitTorrent (BTT) price prediction 2022 is purely based on the writer’s knowledge in technical analysis alone. Price analysis articles of other platforms may use different technical analysis signals and indicators that may influence their BTT price forecast outcome differently. Hence, we strongly suggest to do your own research before buying BTT.
The first half of 2022 is one of the most anticlimactic in the history of the crypto market. This may be due to the fact that it has made an amazing run in 2020 and 2021. However, this year is also one of the most sobering for three reasons.
Firstly, some blockchain projects have crumbled under the weight of pressure and are struggling to keep their economy alive. Secondly, Bitcoin has failed to become a better hedge than gold. Thirdly, the crypto market still goes along with other markets, especially during global economic meltdowns.
However, as Binance CEO Changpeng Zhao pointed out, there’s a “newfound resiliency in the market that did not exist during the last market downswing.”
Within the crypto market, investors must take note of those that stayed afloat despite the current crypto winter. Among these is BitTorrent.
But what is BitTorrent? For those who may be asking, “What is BitTorrent (BTT), and is BTT a good cryptocurrency to invest in 2022?”, worry not. We’ve got you covered.
What Is BitTorrent (BTT)?
Most millennials would admit that their teenage and young adult years would not be complete without BitTorrent. As a file-sharing domain, BitTorrent has provided many with access to files that they would otherwise have to pay for, in a completely peer-to-peer manner.
Today, BitTorrent remains a popular torrenting platform. However, Tron, which acquired and is currently developing BitTorrent, has come up with another significant use case — a cross-chain interoperability blockchain. Named BitTorrent Chain, this integrates with other blockchains like Ethereum, Tron, etc., and provides sidechains for higher smart contract scalability
Late last year, BitTorrent also had a token swap and a redenomination plan. From a maximum supply of 990 billion, BTT has now added three zeroes, making it 990 trillion.
Now that we have an overview of BitTorrent, let us take a look at its market standing.
BTT Overview (At the time of writing)
|24-h Trading Volume||$47,504,881|
BitTorrent (BTT) Price Prediction 2022
ButTorrent is highly available to cryptocurrency traders since it is listed on major cryptocurrency exchanges like Binance, KuCoin, etc. Now, let us proceed to the charts and find out if BTT is indeed a good investment in 2022.
BTT/USDT 1-day chart (source: TradingView)
As seen on our 1-day chart, BTT has two different sets of candlesticks. The obvious set of candlesticks is the Old BTT, while the imperceptible one is the New BTT, which is now the official crypto.
For better perspective, here’s another chart.
Old BTT vs New BTT (source: TradingView)
For now, BTT will find it difficult to reach the price of Old BTT before the redenomination plan since the total supply has increased dramatically. However, previous holders who swapped their tokens have received additional BTT, which makes up for the change in price.
At the moment, the market is in a crypto winter, and it will take a lot of time before it recovers. Specifically, the market can expect at least 6 months up to 1 year for the crypto winter to thaw.
Consequently, BTT will have to settle at a price range from $0.00001 to $0.000001 during this period. However, there is hope that it will slash a couple of zeroes to reach $0.0001 since the market will return to a bullish perspective once the massive capitulation is over.
BTT Price Prediction 2022: Redistribution Phase in Play
It is safe to assume that the market is in a redistribution phase today. Bitcoin continues to play a significant part in the market, and indicators say that many are capitulating. For instance, we have observed that whales have started depositing their BTC to major exchanges.
The redistribution phase will be followed by accumulation, where a majority of investors and traders will buy cryptocurrencies including BTT. However, this period might come by the end of 2022 at the earliest.
If the accumulation phase begins in 2022, then BTT might reach a price of up to $0.0001 before the year ends. However, if it doesn’t happen, then the price is expected to hit only up to $0.00006.
Market Prediction for BitTorrent (BTT) Price 2022
Digitalcoin is a well-known crypto price analysis platform with automated tools. Based on the platform’s metrics, BTT price may reach around $0.00000156 in 2022.
Wallet Investor is also another reputable crypto price forecast platform that aggregates historical pricing data. According to the platform, BTT price prediction forecast in 2022 may reach up to $0.000000194.
Market Prediction for BitTorrent (BTT) Price 2023, 2024, and 2025
BTT price prediction 2023 is up to $0.0005 (estimated)
BTT price prediction 2024 is up to $0.001 (estimated)
BTT price prediction 2025 is up to $0.008 (estimated)
BTT price prediction 2026 is up to $0.01 (estimated)
BitTorrent has strong fundamentals, but we have to accept the fact that we are experiencing a crypto winter. This may cause BTT to underperform this year.
Once again, our bullish BitTorrent price prediction 2022 is $0.0001. Conversely, our conservative BTT price prediction 2022 is $0.00006.
Technical analysis aside, BitTorrent (BTT) is a good investment due to its strong fundamentals. It continues to hold its precious spot in the top 65 cryptocurrencies today. In addition, BitTorrent Chain focuses on Web 3.0, which will become the future of the crypto industry and the world as a whole.
BitTorrent Chain is an independent blockchain ecosystem that is compatible with other blockchains. It also implements sidechains for smart contract scalability, which makes it at par with modern blockchains today.
BTT is currently listed on Binance alongside other major cryptocurrency exchanges.
Disclaimer: The views and opinions in this article belong to the writer alone and they do not necessarily reflect the position of CryptoNewsLand (CNL). No information in this article, whether express or implied, should be taken as financial advice. Remember that investing in cryptocurrency poses significant risks to your asset. Hence, CNL strongly recommends all readers to perform their own in-depth research before investing in cryptocurrency.
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