Since the recent crypto bull run, BitTorrent (BTT), a renowned decentralized file-sharing torrent platform, has been making an upward trend. Even though the bull run seems to have ended after BTC’s recent slump, BTT is still showing some resilience by making slight gains.
BTT is trading at $0.00297 at the time of writing after a 3.4% gain.
BitTorrent (BTT) Price Analysis
BTT has made significant gains since the last week of July. While most of these gains are attributed to market support, buyers have also been creeping in to get a share of the token that powers a leading decentralized file sharing platform.
If the current upswing in prices continues, BTT could be heading towards a break out past $0.0045. However, the token still has a long way to go before breaking out to 1 cent, as it did in April when the crypto market was at its peak. This will happen if the recent crypto bulls resume and hold for a while.
If BTT starts making lows, it could be headed towards a low of $0.00177, created in late June. Retreating to this low will happen if the current slump in BTC continues. Strong bears will happen if BTT pushes below $0.001, which will erase all the recent bears.
For BTT to spike to one cent and beyond, it will depend on strong developments in its blockchain. BitTorrent was previously accused of promoting privacy through its software, but this has been overshadowed by the recent boom in cryptocurrencies as an asset class.
After TRON acquired BitTorrent in 2018, it revamped the company by creating its native token, BTT, a TRC-10 utility token. BitTorrent remains the largest distributed network that promotes file sharing. The BBT token powered various decentralized protocols and applications (dApps) such as BitTorrent Speed, DLive and BitTorrent File System.
Where to Buy BitTorrent (BTT)
If you want to buy the BitTorrent token, you can create an account on the following crypto exchanges:
eToro is a reputable exchange that offers multiple supportive features such as copy trading. The exchange supports multiple cryptocurrencies and trading pairs, and the trading fees charged on the platform are highly competitive.
The other exchange where you can buy BTT is Upbit. Upbit is also one of the largest cryptocurrency exchanges. It is ideal for investors who want to diversify their portfolios by offering a wide range of cryptocurrencies.
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