BitTorrent (BTT) is a project that was created on the basis of blockchain technology. First created as an individual blockchain, BitTorrent was later bought by Justin Sun — the creator of Tron. This project brings together two leaders in the field of virtual currencies (BitTorrent and Tron), who in turn dared to suggest that the BTT token could lead to universal adoption and force investors to make large contributions to the crypto.
Are the founders right, and will the BTT price prediction come true?
What Is BitTorrent (BTT)?
BitTorrent is a peer-to-peer (P2P) protocol for transferring large files over the Internet:
- video games
- series
- movies
- programs, and many more.
BTT is a BitTorrent token created on TRC-10 and upgraded to TRC-20, designed to empower the network. It supports the functions of popular dApp protocols and provides faster download speeds and rewards in the form of coins.
With the BTT token, the developers solved the following problems:
- unrealized capabilities of the decentralized protocol
- decreased functionality due to outgoing seeds
- reluctance to buy virtual items for real money
- slow introduction of new functionality
- difficulties in implementing the marketplace and API in existing services.
The key purpose of the coin is to expand the functionality of the network and increase the efficiency of BitTorrent. But you can also look at it from a global point of view: the project can provide humanity with unlimited access to a full-fledged decentralized Internet.
BitTorrent (BTT) Price History
Since the very launch of the blockchain and its further listing on major crypto exchanges, the coin performed really well.
In May 2019, the chart reached $0.0017, which was considered a fairly decent result. Until February 2021, the token traded around the mark of $0.0003. With the announcement of system updates and the start of the bull run, the crypto began to rise.
In early 2021, the rate of BTT hit $0.002, which was a shock even for the most bullish coin holders. Fortunately for them, the price didn’t stop there and reached another high in April. That month the token was traded at $0.014.
For the next few weeks, BTT held the support level around $0.002. However, in January, the historical BTT redenomination took place. All trades were stopped until January 19, 2022. The price couldn’t recover from it and the token fell to the ATL of $0.000000705 on June 18, 2022.
Today, to buy 1 coin of BTT, one should pay $0.0000008.
BTT Price Prediction
But will we see the token reaching its previous highs? Let’s ask professionals.
The forecast from DigitalCoinPrice shows that the average price of BTT/USD in 2023 will grow to $0.00000146, in 2025 to $0.00000189, and in 2030 to $0.00000413.
According to the forecast of the WalletInvestor algorithmic service, the BTT token price will fall in the long term, and by the beginning of 2023, the average coin price will be $0.000000069. By the beginning of 2025, the service expects an average BTT token price of $0.000000015, and $0.000000019 in 2030.
Experts of the mentioned companies admit that there are three main reasons why the token is still far from recovering:
- Bram Cohen (the founder of the project) is no longer on board;
- the audience of BitTorrent has decreased since the mid-2010s;
- there is no clear roadmap.
All of this prevents funds from investing in this product.
Conclusion
Despite bearish predictions, the fans of the network continue to support their favorite protocol. So here everything depends on Bittorrent’s team. If the developers are able to come up with breakthrough updates and the founders promote the use of native tokens, the project will have every right to be listed on major exchanges.
Unluckily, these days, the liquidity of BTT is supported only by traders and speculators.
Categories: News
Source: thpttranhungdao.edu.vn/en/
