BitTorrent Price Prediction — Will BTT Hit $0.0075 Soon?
- Bullish BTT price prediction is $0.0042 to $0.0062.
- The BTT price will also reach $0.0075 soon.
- BTT bearish market price prediction for 2021 is $0.0017.
In BitTorrent (BTT) price prediction 2021, we use statistics, price patterns, RSI, RVOL, and much other information about BTT to analyze the future movement of the cryptocurrency.
BitTorrent Current Market Status
According to coingecko, the price of BTT is $0.0032 with a 24-hour trading volume of $501,521,52 at the time of writing. However, BTT has increased to 5.7% in the last 24 hours.
Moreover, BTT has a circulating supply of 659,071,882,049 BTT. Currently, BTT trades in cryptocurrency exchanges such as Binance, Mandala Exchange, OKEx, CoinTiger, and Huobi Global.
What is BitTorrent (BTT)?
BitTorrent (BTT) is a blockchain-based digital token that powers the world’s most popular decentralized protocols and applications. It is a distributed file-sharing protocol developed in 2001 by computer programmer Bram Cohen. It is designed to transfer large computer files without a central server, and is responsible for moving a significant percentage of the world’s Internet traffic.
BitTorrent (BTT) Price Prediction 2021
BitTorrent holds the 81st position on CoinGecko right now. BTT price prediction 2021 explained below with a weekly time frame.
An ascending channel is a pattern formed from two upward trend lines drawn above and below the price indicating the resistance and support levels. This is a bullish chart pattern defined by a trendline that supports the series of higher lows and a diagonal resistance level that connects the higher highs. While on the channel, prices are expected to jump from the upper and lower ranges. As such reversals occur, the method is more reliable.
Currently, BTT is at $0.0031. If the pattern continues, the price of BTT might reach the resistance level to $0.0045 and $0.0053. If the trend reverses, then the price of BTT may fall to $0.0018.
BitTorrent (BTT) Support and Resistance Level
The below chart shows the support and resistance level of BTT.
From the above weekly time frame, it is clear the following are the resistance and support levels of BTT.
| Resistance Level 1 | $0.0042 |
| Resistance Level 2 | $0.0053 |
| Resistance Level 3 | $0.0062 |
| Resistance Level 4 | $0.0074 |
| Support Level 1 | $0.0031 |
| Support Level 2 | $0.0017 |
The charts show that BTT has performed a bullish trend over the past month. If this trend continues, BTT might run along with the bulls overtaking its resistance level at $0.0074.
Accordingly, if the investors turn against the crypto, the price of the BTT might plummet to almost $0.0017, a bearish signal.
BitTorrent Price Prediction 2021 — RVOL, MA, and RSI
The Relative Volume (RVOL) of BTT is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, RVOL of BTT lies below the cutoff line, indicating weaker participants in the current trend.
More so, the BTT’s Moving Average (MA) is shown in the chart above. Currently, BTT is in a bearish state. Notably, the BTT price lies below 50 MA (short-term), so it is completely in a downward trend. Therefore, there is a possibility of a reversal trend of BTT at any time.
Meanwhile, the relative strength index (RSI) of the BTT is at level 39.74. This means that BTT is in a nearly oversold state. However, this gives confidence for the traders to trade without any fear.
BitTorrent Price Prediction 2021 — ADX, RVI
Let us now look at BitTorrent’s Average Directional Index (ADX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of BitTorrent. Currently, BTT lies in the range at 38.17, so it indicates a strong trend.
From the above chart, the Relative Volatility Index (RVI) of BTT. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of BTT lies above the 50 level, indicating that the direction of volatility is high. In fact, BTT’s RSI is at the 39.74 level thus confirming a potential sell signal.
Comparison of BTT with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum and BitTorrent.
From the above chart, we can identify the trend of the ETH is moving at the upward trend. But, the recent trend of BTC and BTT moves in a downward direction.
Conclusion
With continuous improvements in the BitTorrent network, we can say that 2021 is a good year for BTT. For this reason, the bullish price prediction of BitTorrent in 2021 is $0.0074. On the other hand, the bearish BTT price prediction for 2021 is $0.001.
Furthermore, with the advancements and upgrades on the BTT ecosystem, the performance of BTT would rise reaching $0.005 very soon. But, it might also reach $0.0075 if the investors believe that BTT is a good investment in 2021.
FAQ
BitTorrent is a most popular peer-to-peer (P2P) and torrent file sharing platform that has become increasingly decentralized in recent years.
BTT has listed on many crypto exchanges which include Binance, Mandala Exchange, OKEx, CoinTiger, and Huobi Global.
With the ongoing developments and upgrades within the BTT platform, it has a high possibility of reaching its ATH soon.
On Apr 05, 2021, BTT reached its new all-time high (ATH) of $0.0135.
BitTorrent (BTT) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of BTT in the past few months, BTT is considered a good investment in 2021.
BitTorrent (BTT) is one of the active crypto that continues to maintain its Bullish state. Eventually, if this bullish trend continues then BitTorrent (BTT) will hit $0.0075 soon.
BitTorrent (BTT) price is expected to reach $0.01 by 2022.
BitTorrent (BTT) price is expected to reach $0.15 by 2023.
BitTorrent (BTT) price is expected to reach $0.5 by 2024.
BitTorrent (BTT) price is expected to reach $1 by 2025.
Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
The post has appeared first on thenewscrypto.com
Read more: https://thenewscrypto.com/bittorrent-btt-price-prediction
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
