BitTorrent token (BTT) was one of the most hyped ICOs last year. But, despite the huge hype behind it, there’s a shroud of doubt about the token’s viability as well as its general competence. The single driving force for the price of BitTorrent is the regular marketing gimmicks and speculation about the token. These options are two strong suits of Justin Sun. The Tron founder used these factors to cause a surge in the price of BitTorrent. However, via the long-term, the price of BitTorrent doesn’t seem like a solid investment.
According to the latest Bittorrent news on cryptotown, if the price of BitTorrent allows the digital asset to survive to see 2023, a highly unlikely scenario, the token would most likely be between 10-100 times of its current value. This, in essence, means the price of BitTorrent would be at $0.007 to $0.07.
It is arguably the most hyped ICOs considering the adequate amount of support it got from Binance exchange CEO and Tron founder. BitTorrent was expected to maintain a positive impact. It is difficult to believe that the digital asset was once tipped to be the next Bitcoin. The price of BitTorrent has taken a hit since it sold over $7.8 million in the first 2 minutes after launch. But current analysis of the BitTorrent chart shows that the asset class looks dreary.
BitTorrent Price Prediction
Since the extended crypto winter began in mid-2018 bulls and traders have been searching for a digital asset that is profitable. This is a difficult proposition because of the volatile nature of the cryptocurrency market. To calm nerves and introduce something new the founder of TRON (TRX) and the CEO of Binance Exchange opted to back BitTorrent for better days. BitTorrent is an asset class built on the Tron network.
The price of BitTorrent has slipped through every area of its support lines, having dropped to 12 sats. If the coin continues like this, it could drop to the first day, listing price of 6 satoshis on by Binance. It is currently on a crucial level. If it fails to defend this position, then Bittorrent is heading back to zero with uncertainty around it.
Considering other market indicators, it is safe to say that price movement is more likely to remain in bearish territory than bullish territory.
Also, putting the fact that the market is completely unpredictable into consideration, giving a prediction for any cryptocurrency is more of a gamble rather than a data-driven guess.
BitTorrent News: BitTorrent Speed For Faster Downloads by using its crypto token
According to the latest Bittorrent news on coinrivet; BitTorrent announces new product to provide ‘faster downloads’ using its crypto token
Peer-to-peer file sharing website BitTorrent has announced a new product called Speed which will soon “enable faster downloads on the uTorrent classic clients”.
The firm outlined a simple three-step process that the platform’s 100 million active users will soon be able to try. This includes opening the new BitTorrent Speed menu to check BTT balances or activity, watching the new product “automatically bid BTT to other users for faster speeds”, and finally, when a file finishes downloading, users can seed the file to earn more BTT.
This payment network will allow the BTT token (a so-called TRC-10 token on the Tron blockchain) to be used to either reward file sharing or be spent by users looking for faster downloads on the BitTorrent network. This, of course, will be handled through the uTorrent client via the new BitTorrent Speed feature.
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