The cryptocurrency market rebounded in late July, and many coins have made significant gains. BitTorrent, one of the popular altcoins, has also made similar gains and has managed to go up by a significant percentage compared to what it was trading at on July 19, when the market had a sudden pullback.
BTT is trading at $0.00461 at the time of writing after a 15.3% gain in 24 hours.
BitTorrent Price Analysis
BTT’s volatility has increased in the past week, which means that a spike or a decline in the coin’s prices could be significant. If there is an uptrend, we could see BTT heading towards $0.006. There is a high chance that this uptrend will happen, given that market and buying support is currently very high.
The crypto market bulls seem to have slowed down, which means that there is a chance that BTT could consolidate at the current levels. If it fails to go above this level, it could retreat to $0.0043 or retest support at $0.0038.
On the downside, BTT could fail to hold the current prices if a price correction happens across the broader market. If this trend happens, BTT will retreat towards $0.003. If bears are strong, BTT could also go to even lower levels.
BitTorrent is a peer-to-peer file-sharing network that is powered by the BTT TRC-10 token. TRON acquired BitTorrent in 2018. Since then, the network has made several developments aimed at helping the value of BTT. The BitTorrent Speed update boosted user experience by rewarding users with BTT tokens when they seed their files, increasing speed.
BitTorrent’s native token, BTT, is popular because of the size of the network. In 2019, the network stated that its platform had around 100 million users present in 138 countries. This made it the largest torrenting network in the world.
Where to Buy BitTorrent (BTT)
If you want to buy the BTT token, you can do so on the following platforms:
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The other platform where you can buy BTT is Binance. Binance is the largest cryptocurrency exchange platform. The exchange’s trading fees are also competitive, and it supports a wide range of cryptocurrencies and trading pairs.
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