The BitTorrent (BTT) coin or TRC-10 token is a cryptocurrency built on top of the BitTorrent protocol as a product of collaborative work of TRON Foundation and BitTorrent foundation. The goal was to provide a secure and robust network that extends the current functions of the file sharing protocol.
BTT Airdrop & Price Spikes
The hype around the project helped the BTT token price achieve 6x grow spike six times over the course of one week since the end of its ICO.
The BTT is brand new crypto launched the end of January 2019. The success of BTT’s airdrop and ICO campaigns brought massive attention to the project in the cryptocurrency media.
As press time, BTT is trading around $0.000885, a 629 percent price hike since the ICO and a 47 percent increase over the last 24 hours.
Binance is going to run an additional airdrop due to the overwhelming interest to the BTT token:
However, what actually happened was that the Binance Launchpad servers were overwhelmed by the high number of purchase orders. Luckily for the unfortunate token sale participants whose orders didn’t get placed, all of their order requests were preserved.
BitTorrent (BTT) Coin Value Explained
Let’s talk about the BBT coin value, its prospects and price predictions.
Fundamental reasons for the BTT token price to grow:
1. Media attention
The BitTorrent coin price spiked due to several reasons. First of all, as we stated earlier, the media presence of the coin was comprehensive and positive.
2. Existing and successful product
The BitTorrent company is a public venture that has products used all over the world. It is active since 2004 and provided one of the first widely adopted peer-to-peer technologies that strongly influenced the whole world of cryptocurrency and content distribution markets.
3. Justin Sun
Besides, the BitTorrent token got active support from Justin Sun – one of the leading influencers in the blockchain industry and the founder of the TRON blockchain project.
4. BTT token listing on Binance
The BTT coin’s popularity went high after the listing on Binance, the top-1 crypto exchange in terms of daily trading volume. Binance actively promoted its initial distribution on their airdrop platform – Binance Launchpad.
5. 100M+ audience of BitTorrent users
Another significant advantage of the platform that provided promising BTT price predictions was the already established audience of the future network. The BitTorrent project has a vast audience of users who appreciate the advantages of decentralized systems.
6. Natural business evolution
Last but not least, blockchain technological features drive the BitTorrent coin value by bringing a new type of economic incentive to their users – BTT token rewards for bandwidth sharing.
[…] to create a token-based economy around the usage of networking, bandwidth and storage on hundreds of millions of computers on the internet.
A quote from BTT whitepaper
The development team of the BitTorrent coin and the homonymous protocol has a comprehensive knowledge about peer-to-peer networking. They clearly understand what is demanded by the industry and BitTorrent particular clients. Such features as “seed’s” encouragement with BTT, decentralized applications development on top of the protocol and other prominent advancements very a big pleaser for the audience.
You can find more information about the history and advantages of the BitTorrent coin on BitcoinWiki.org
BTT Toke Future Price Analysis
The BitTorrent coin price showed its current peak on February 5, 2018, shortly after its launch and remained pretty much within the same boundaries since then. The BTT coin market cap is still a subject to evaluation, but it surely followed the initial success of the crypto.
It is possible that the overall downtrend of the market blocks the rise of BTT coin price. Both investors and traders are not sure if the cryptocurrency industry gets back in the ascending direction and it stops them from buying the asset.
However, there are multiple reasons for the authors of BitTorrent price predictions to call them wrong.
BitTorrent (BTT) Coin Price Predictions
There are several approaches between the cryptocurrency market analysts on how to build BTT price predictions. Some of them use the coin’s hype as their starting point, and some are keen on the technical analysis of the coin’s price history.
- 0.0016 USD per coin Cryptoinfobase Prediction on BTT
For example, the Cryptoinfobase portal’s team mostly concentrates on the media presence and the distribution policies of the new crypto asset. In their estimation, the coin will get to the mark of 0.0016 USD per coin, which is two times its current price.
The main components driving this BTT price prediction are the promotion of BTT coin by Binance, significant allocation of the coins within the TRON and BitTorrent teams and the prospects of widespread implementation due to the extensive user base of the BitTorrent company.
- 0.00565 USD per BTT Prediction by The Wallet Investor
The Wallet Investor website used technical analysis and offered another BTT coin price prediction. The evaluation made by the portal provides us with a forecast of 0.00565 USD at the end of the year and states that the BitTorrent token is a promising and profitable investment.
It is also important to note that the coin has some advantages in the sphere of technical features. It shouldn’t be overlooked that the currency currently offers the most familiar or commonplace system for data exchange. The BitTorrent coin’s brand is not only a hype attraction but also a mark of the team’s deep expertise in the field.
There is only one reason for a coin to fail and we can only speculate about it. If the coin was only established to provide an opportunity for fast growth in price due to the extensive marketing and brand name, its future is not bright.
People are waiting for a similar product due to its understandable operating, clear funding model and renowned development team. The coin will see massive success if the BitTorrent team manages to deliver on what was promised to the investors and users.
Buy or Exchange BTT Token
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. While price analysis is a useful tool, it should not be considered predictive for the future performance of any investment vehicle.
Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment. Website personnel and the author of this article may have holdings in the above-mentioned cryptocurrencies.