BitTorrent Price Prediction
BitTorrent is one of the largest decentralized peer-to-peer communication platforms around the globe this is per their official text.
The founder of BitTorrent is the renowned Bram Cohen, who explained that he created BTT Price Prediction to take over the outdated entertainment industry. This made the attainment of materials slow and costly.
However, we have seen the platform being taken to court due to copyright claims, but Bram Cohen maintains that it does not break any law in the sharing of music and movies among its platform users.
Current price prediction
BTT Price Prediction/USD 1-day price chart
[caption id="attachment_235305" align="alignnone" width="898"]
Source: Coin Market cap[/caption]
On the 24-hour chart, the token was on a bullish trend in the beginning, on the 9th of May the token recorded a price of $0.000001581 and a trading volume of $110.65 Million. The bullish trend was on for some hours but the token soon started to take a dip. Recording the lowest token price of $0.000001401 with a trading volume of $139.94 in the last 24 hours. As per the time of writing the token is on a bearish trend where it is trading at a price of $0.000001401 and a trading volume of $139.94 Million.
The total summary of the token is it was trading at $0.000001506 in the last 24 hours. It has had a high of $0.000001587 and a low of $0.000001401.The token had a total of 4.58% down in the last 24- hours.
BTT Price Prediction/USD 7-day Price Chart
Source: Coin market cap
In the 7-day chart, the token was on a bullish trend at the beginning, however, it took a dip, but soon regained its momentum of gaining trading at a price of $0.000001717 and a volume of $63.73 Million. On the same day that is the 3rd of May the token dropped down. But it spiked to its all-time high of $0.000001806 on the 4th of May. Within the next few hours, the token had collapsed till the time of writing. On the 9th of May, it recorded its all-time low of 0.00000141 and a 24-hour volume of $140.10M.
Source: Trading view
BitTorrent marked low volatility this is because the Bollinger bands were tightened in the 7-day chart. Additionally, the distance between the two bands was relatively narrow indicating that the market may either go in either direction. In the MACD the signal line and the MACD line are getting closer to each other signaling a waning trend. In the RSI it shows a downward trend of the token.
Technical Analysis
The 24-hour overview summary shows that 4 out of 26 indicate buy and 14 out of 26 indicate sell. While in the moving average it shows a strong sell-off of 13 out of 26 and 1 out of 26 indicate buy. Moreover, in the oscillators, 3 out of 26 indicate buy while 1 out of 26 indicates buy.
What do Financial influencers think of the BitTorrent Price Prediction?
Bitcoin Bros a YouTube financial influencer says that this is the best time to buy BTT this is because people are in extreme fear of the coin and that most sellers are panic selling. He also said that in the long term the market will be bullish.
YouTube Influencer Unisoffinance says that this is the best time to buy the token since it’s much easier to buy when it is at its all-time low than when it’s on the all-time high. This is because it is one of the best approaches to making money in the crypto space. Additionally, it is best to make to come with a prepared mentality in the cryptocurrency space.
Reasons why you should invest in the BitTorrent token