Key Takeaways:
- BitTorrent price has risen from the bearish pattern finally since the start of 2023 and gained more than 25%
- The bulls are attempting very hard to keep up the bullish trend, while the bears intended to extend the bearish trend for a long
- The BitTorrent token is losing its traction as the dominance is inculcating a descending trend
| Price | $0.0000007276 |
| 24H Price Change | +2.46% |
| 7D Price Change | -1.4% |
| MarketCap | $693.64 million |
| Circulating Supply | 951.42 quadrillion |
| Trading Volume | $19.88 million |
| ATH | $0.000003054 |
| ATL | $0.0000006155 |
Read More: Bitcoin Price Prediction
BitTorrent Price History
- Originally launched in 2001, BitTorrent was taken over by the Tron platform in 2018 which added up various new tools to the chain
- The price traded with an initial price of $0.00047 in February 2019 and rose notably high by the mid. However, by the end, the price dropped to $0.0002898
- The price remained consolidated throughout 2020 under bearish captivity until the bull run kicked off in the first few days of 2021.
- The price quickly surged to $0.016 and marked new highs in the first half of 2021 and quickly fell into a deep bearish well, maintaining a descending trend till the end of the year
- During Q1 2022, the BTT token was redenominated where existing BTT tokens were divided into 1000 new tokens while the chain was also spilt up
- Since then BTT is called BTTC, while the price continues to remain under a deep bearish influence
BitTorrent Technical Analysis
Source: Tradingview
- The BTTC price has been surging since the start of 2023, after rebounding firmly from the bottoms of the 2022 bear market
- Presently, the BTTC price is trending within a symmetrical triangle and very close to the apex of the consolidation
- The RSI is displaying a bullish divergence and hence the price is believed to undergo a breakout and rise high
- The price may initially reach beyond $0.00000075 levels but due to a less trading volume, it may remain consolidated along these levels for a long time.
Overview of BitTorrent On-chain Analysis:
BitTorrent Weighted Sentiment
Source: Santiment
The “weighted” sentiments are the collection of all the positive and negative sentiments of the tokens, compared to their frequency of occurrence over time. They indicate the current market sentiments and also determine a possible upcoming move. The calculated levels also help to understand whether the current value of the token is overvalued or undervalued.
The sentiments of the BTTC have been in negative ranges largely, which also includes a couple of spikes within the positive zone. The sentiments rose signaling that the price is now overvalued and hence the traders may be primed to liquidate to extract their profits.
BitTorrent Social Dominance
Source: Santiment
The social dominance of a token indicates its strong presence on social media platforms. The dominance is calculated against the top 100 tokens as per the market capitalization. If the social dominance of the token rises, it indicates that the posts/mentions of the token have surged compared to those of the top 100 tokens as per the market capitalization.
Presently, social dominance is varying but maintaining a descending trend. Hence, it can be determined that the traders are losing their focus and interest in the token. Therefore, the posts and mentions have decreased dramatically.
BitTorrent Development Activity
Source: Santiment
The fundamentals of the platform are completely dependent on the development activities they carry out over time. These metrics record the possibilities of future developments and upgrades to the platform. This in turn can be determined by the GitHub activity of a project wherein the developers record their activity like pushing the commits, raising queries, etc.
A jump in the development activity suggests that the development team is tirelessly working behind the upgrades and may soon deliver new features. This keeps the market participants bullish on the token in the long run. Woefully, the development activity has touched the ground and is unable to pick up which is not a good sign for a healthy upswing.
BitTorrent Price Prediction for 2023
The BTTC price soon after the redenomination plunged hard, and as the market sentiments were bearish, it maintained a steep descending trend throughout 2022. However, the price quickly rose since the beginning of 2023, breaking the bearish pattern that it followed form a long time. The price is currently looking for a bullish push that may raise the price beyond $0.00000075 by the end of Q1 2023.
If the volume intensifies, the Q2 trade could be more bullish, and the price may surge beyond $0.00000085. During the second half of 2023, the price may remain elevated and try to eliminate a zero from its value. By the end of 202, the BTTC price is believed to rise beyond $0.000001 and secure levels around $0.0000012.
Additional Read: Top Crypto Projects in 2023
BitTorrent Price Prediction for 2024
With the bullish close for the previous year, the upcoming trend is believed to remain elevated for a longer time. The price may quickly jump beyond $0.0000015 in the first quarter of 2023 and secure levels of $0.000002 by the end of Q2 2023. However, the price may further witness a minor pullback to around $0.0000018 in the first few days of H2.
After undergoing a short-lived consolidated trend, the price may resume with a notable upswing and reclaim the lost levels quickly. Further, by the end of Q3, the price is believed to rise beyond $0.0000022 and later head towards the higher targets ahead. By the end of 2024, the BTTC price may secure levels around $0.0000025.
BitTorrent PRICE PREDICTION 2025-2030
The bullish momeutm may carry forward through the first couple of months in 2025 wherein the price may mark highs beyond $0.0000035. However, the bears may continue their action and drag the price lower, triggering a bearish trend. This trend may survive throughout 2025 and 2026, marking the bottom of the bear market somewhere in Q3 or early Q4 2026. However, the year 2027 may witness a slight recovery, which may pave the way for the bulls to accumulate their strength.
Further, the trend is believed to be rising as the bullish sentiments could have accumulated, and hence the BTTC price may trigger a fine recovery in 2028. This upswing may transform into a bull run in 2029, which may find new highs. The ascending trend may be halted during the first half of 2030, beyond which the price may face a significant drop.
| Year | BitTorrent Price Forecast |
| 2023 | $0.0000012-$0.00000125 |
| 2024 | $0.0000025-$0.0000033 |
| 2025 | $0.0000035 to $0.0000036 |
Should you invest in BitTorrent in 2023?
BitTorrent has been one of the early chains that have undergone a couple of bearish markets. Despite this, the price maintains a significant upswing, displaying its strength. Therefore, it can be considered for investment provided the trader has an in-depth knowledge of the project and the team along with the future scope, etc. Also, close observation of the price movements is also required to manage the risks properly.
FAQ
What will BitTorrent be worth in 2023?
The BTTC price may be around $0.0000012-$0.00000125 by the end of 2023.
What will be the price of 1 BitTorrent in 2030?
The price of 1 BitTorrent in 2030 may be around $0.0000055.
Will BitTorrent ever hit $0.0001?
The BTTC price is displaying enough bullish momentum and hence could maintain a notable upswing in the long term achieving great highs
Is BitTorrent a safe investment?
BitTorrent has displayed enough bullish momentum and a desire to go long soon and hence can be a safe investment with deep research and a close look at the price movements.
