The BitTorrent price prediction has been positive since Tron’s acquisition of the network. Many BitTorrent airdrops have been put in place to promote the adoption of the BitTorrent network. One occurred on the 11th of March while another occurred on the 11th of April. There will be BitTorrent airdrops on the 11th of every month until the end of 2019. Those who have already purchased BTT tokens before the airdrop are eligible to receive tokens from the BitTorrent airdrop. How do these BitTorrent airdrops affect the BitTorrent price prediction 2019? A comparison of the price of BTT and the last two BitTorrent airdrops on beincrypto.com provides more clarity.
BitTorrent News Today – BitTorrent Airdrop And The BitTorrent Price Prediction 2019
According to the BitTorrent news, the price of BTT opened at $0.000748 on the 11th of March before the airdrop. A few hours later, it had spiked by 16.32% against the USD and was trading at $0.000869. This spike in the price of BitTorrent was directly linked to the airdrop. However, the price also decreased rapidly on the following day even falling lower than the opening price of March 11 at $0.000752.
The more recent airdrop on the 11th of April was different from that of March 11 and this is mainly because the entire cryptocurrency market took a bearish hit that day. The price opened at $0.000756 and fell by 17.20% to $0.000630. However, this was followed by an increase the following day that took the price of BTT to $0.000766.
TRON (TRX) Price Today – TRX / USD
At the time of writing, the BTT token was trading higher at $0.000744. This shows that it is up by 9.79% against the USD. It is up by 8.08% against BTC and up by 6.41% against Trx per CoinMarketcap.com. The Token is feeling the effect of the airdrop a bit late but it’s still doing relatively well against BTC and the USD. There was a significant difference between how the BitTorrent airdrop affected the prices in March and April. However, how does this affect the BitTorrent price prediction long-term?
BitTorrent News Today – How Will The BitTorrent Airdrop Affect The BitTorrent Price Prediction Long-term?
Airdrops are always good for creating awareness and promoting adoption of a token. They also help increase the price of the token short-term. However, the major drawback of hosting too many airdrops is that it increases the number of tokens in circulation too quickly and this isn’t always a good thing. Long-term, the price of the token may fall dramatically as a direct impact of the airdrops. This is not going to be good for the BTT network. However, there is no assurance that this would actually happen. The effect of the monthly BitTorrent airdrops might be positive after all.
Another thing we observed from the March 11th BitTorrent airdrop is that the effects of the airdrops aren’t sustainable. The spike in the price of BTT was followed by a decrease in the price on less than 24 hours. If the price of BTT is to move higher and maintain upward stability, it would need more than massive airdrops to achieve this. The use cases need to improve and there has to be organic growth that isn’t influenced by BitTorrent airdrops.
What do you think about the BitTorrent news today? Will the BitTorrent airdrop affect the BitTorrent price prediction long-term negatively or positively?