Should You Invest In BTT Right Now?
BitTorrent token (BTT) is a TRC-10 standard coin jointly issued by BitTorrent Inc. and Tron Foundation in 2019 in Singapore. BTT coin is best known for its fast-paced crowdfunding campaign on Binance DEX. The BitTorrent IEO (Initial Exchange Offering) lasted only 15 minutes and raised $7 billion in that time.
However, the price of the asset didn’t please the crypto community since after its listing the chart stopped at $0.001.
But how the rate is doing today and is it the right time to buy BTT? Let’s check the BTT price prediction together!
BTT Fundamental Analytics
BitTorrent is one of the most widely used decentralized protocols, created in 2001 by Bram Cohen. Later, in 2004, the BitTorrent Foundation was created. The BitTorrent client allows you to build a peer-to-peer (p2p) distribution of large files between several users at the same time.
In 2018, the Tron Foundation acquired BitTorrent, giving the company a huge user base. The purchase by a big crypto company left no choice but to create its own native cryptocurrency.
The development team released a BTT coin based on the Tron platform. BitTorrent rewards users by sending them BTT coins in case they offer their computing power to ensure faster file downloads in the new system.
In the future, it is planned to add other useful features, such as buying content, donating on live broadcasts, and crowdfunding the creation of new projects. Higher priority will be given to technologies that are most relevant for building decentralized applications.
Right now, the main function of the BitTorrent token is to reward users for not deleting files from their computers and staying on file sharing. You can spend these tokens to purchase licensed content on various streaming services.
Market Analysis
As we already stated, it all started with the resounding success of the ICO, which raised $7 billion almost instantly. In two weeks, the value of BTT rose from $0.00012 to $0.001. Thus, those who managed to purchase coins during the ICO received 800% of the net profit.
The coin went on to reach a few more peaks — at $0.002 and $0.014 — before plunging into a steady downturn. In January 2022, when the project started redenominating coins at a ratio of 1:1000, the existing BTT was renamed BTTOLD, which is now trading at $0.0008.
The new BTT coin is currently trading at $0.0000008. The market capitalization of the BTT coin is $750 million, and it is in 61st place among all cryptocurrencies. The total issue of the coin is 990 trillion BTT.
BTT Price Prediction 2022-2030
The developers have reserved 40% of the total number of coins. This amount of currency in the hands of the development team opens up many opportunities for market manipulation. Therefore, many algorithmic services can’t give bullish forecasts for this token. The same case was observed in the GRT price prediction.
For example, CoinCodex gave a bearish forecast for the coin in the short term and did not recommend it for purchase. In the long term, the service expects the token to rise to $0.00001078 by 2025. If BTT follows the growth of the industry as a whole, then by 2025 its price can be $0.000002125.
Also, the experts of this platform are sure that by 2028, we’ll see another bull run on this asset since the roadmap of the project suggests many updates. So long-term coin holders can expect $0.009169.
In 2030, BTT will finish its eight-year growth cycle at the point of $0.01141.
Overall, many analysts agree that we’ll eventually see BTT coming back to its historical highs.
Summary
BitTorrent still has every chance to stay the world’s #1 file exchanger. It is the largest decentralized ecosystem in the world since 2001, it has a number of obvious advantages in comparison with other similar projects, and its token is likely to follow its steps.
Is it the right time to buy BTT? If you are a true fan of BitTorrent who would use tokens every day then definitely, yes. However, we have to admit that the market positions of this asset in 2022 aren’t that steady.
