Key Takeaways:
- BitTorrent price closed the previous day’s trade at $$0.00000074 with a market capitalization of $695.05 million and a circulating supply of 945,326.13B BTT
- The BTT price is undergoing a significant recovery after the gigantic fall led by FTX-exchange
- Meanwhile, market conditions appear to be quite shaky, raising the possibility of another bearish wave.
BitTorrent (BTTC) PRICE & Technical ANALYSIS
| Current Price | $0.0000007156 |
| BTTC Price Prediction for Today | $0.0000006852 |
| Volatility | 4.12% |
| 50-Day SMA | $0.000000785 |
| 14 Day RSI | 43.39 |
| Sentiment | Bearish |
| Fear and Greed Index | 25 (Extreme Fear) |
| Green Days | 16/30(53%) |
| 200-Day SMA | $0.0000009602 |
BitTorrent Technical Analysis for the Month
Source: Tradingview
- The BTTC price was expected to breakdown the bearish pennant by the end of the yearly trade and drop hard, but the bearish sentiments mounted up & accomplished the action ahead of time
- Meanwhile, the price is attempting to recover and hence has rebounded after forming new yearly lows, however, the fresh sell-off is challenging the existence of the bulls who may be discarded shortly
- If BTTC price fails to hold within the resistance zone, then an extreme bearish pressure may drag the price lower and find new lows in the coming days.
- Or if the token rebounds firmly, it may reclaim its levels within the pennant but may certainly fail to lay down a notable upswing.
Read more: BTTC Technical Analysis
BitTorrent Technical Analysis at a Glance
BitTorrent token was redonimated to new BTT tokens where-in an old BTT token was split into 1000 BTTC, during the first few days of 2022. Meanwhile, the token underwent this process to build a better blockchain but the price remained unaffected and continued to slump hard. Currently, the price is trading close to its last point of defence, beyond which the token may witness a drastic plunge and discover new lows.
| Short-Term(4hr) | The price may experience a minor short-term bounce, but may certainly remain consolidated below $0.00000074 |
|---|---|
| Mid-Term(1D) | The selling volume has just begun to intensify and hence the price may witness a pullback below $0.0000007 in the coming days |
| Long-Term(1W) | The buying pressure is easing and hence may pave way for the bears to enhance there presence |
Will BTTC Price Reach $0.0000008 Today?
After rebounding firmly from its lows around $0.00000065, the price raised a bit. But soon faced rejection from the resistance zone between $0.00000076 & $0.00000074 and dropped to reach $0.00000070. Presently, the price is attempting very hard to lay down a firm upswing and reduce the bearish influence, but the fractals point towards a revival of the bearish trend soon.
The price may find it difficult to reclaim its levels within the resistance zone as the bear maintain their dominance. Currently, the volatility has dropped slightly and the RSI has displayed a bullish divergence in the hourly chart. Therefore, a minor bounce may be expected until the day’s close but may remain restricted below the $0.00000076 mark.
Will BTTC Price Reach $0.000001 by the End of the Month?
The BTTC price has been trading near the June lows for several months, as bulls have remained cautious due to uncertain market conditions. Furthermore, the bears recall inactivity, which forced the price to remain within consolidated regions. However, the recent bearish action has dragged the price lower, below the critical support zone, raising the possibility of a bull trap.
In the coming days, the BTTC price may continue to trade within accumulation as the buying volume fails to mount. However, Bitcoin price is trying to recover and the MACD displays an ease in selling pressure in the daily chart. Hence some upswing may be expected but the BTTC price may certainly not engulf a zero in its value this month.
BitTorrent Price Prediction: Price Trend Comparison with Tron(TRX)
Source: Tradingview
- Tron & BitTorrent are the tokens developed with the same backing, meanwhile, the price movements are largely independant
- Both the tokens dropped heavily amid the fresh sell-off but the TRX price is attempting to rebound, while BTTC is stuck up within the same bearish well
- The TRX/USDT price dropped from the average levels to mark lows around -15% and witnessed a minor rebound to reach -8.42%
- Whereas, the BTTC/USDT price dropped from highs around +6% to reach -13% and currently trading at -8.31%
Read more: Tron Price Prediction
BitTorrent Price Prediction: 2022, 2023, 2024, 2025
The year 2022 has been pretty bearish for the entire crypto space ever since the market collapsed in May. Meanwhile, the attempts to recover also have faded a huge lag in the trading volume has been witnessed. As a result, until market conditions improve, the BitTorrent crypto price may remain under the bearish influence and quickly rebound, providing an opportunity.
| Year | BTTC Price Forecast |
|---|---|
| 2022 | $0.00000085 to $0.00000105 |
| 2023 | $0.0000011 to $0.0000019 |
| 2024 | $0.0000025 to $0.0000033 |
| 2025 | $0.0000051 to $0.0000078 |
BitTorrent News Today
- BitTorrent chain recently rolled out its new cross-chain assets withdrawal service called Relayer to accomplish the transfers automatically
📢Relayer is now live on #BTTC!
Relayer is an automatic cross-chain assets withdrawal service. After sending an order to transfer assets from BTTC to another blockchain, Relayer will automatically complete the withdrawal.
Learn more about replayer:https://t.co/3ptwOzRt0x pic.twitter.com/O7XH3ThiAn
— BitTorrent Inc. (@BitTorrent) November 10, 2022
- After the recent FTX breakdown, BTTC announced its holders on FTX could withdraw their assets on Huobi permanently
📢For #BTT HODLers on @FTX_Official, you will be able to redeem your #BTT at @HuobiGlobal permanently! https://t.co/CpP2l7LJqt
— BitTorrent Inc. (@BitTorrent) November 10, 2022