This Article does not provide financial advice. No one can predict future with absolute certainty.
The BitTorrent token was launched in 2019 on the Tron blockchain after it was acquired by Justin Sun, founder of the Tron blockchain. BitTorrent was initially owned by the Singapore-based BitTorrent foundation created by Brad Cohen and David Harison in 2001 before it was acquired by Justin Sun in 2018, followed by the introduction of the BitTorrent token in 2019. Notably, BTT has a total 990 billion coin supply which powers BitTorrent Speed, BitTorrent File System, DLive, and other decentralized apps (DApps), and a market cap of $4.735 billion. Presently BTT trades at $0.007092. In January 2021, BTT traded for $0.0003 and rose to an all-time high of $0.000504 on January 9, representing 88% growth from December 2019. BTT sells for $0.007, representing 1288% growth from January to April. Will BTT experience more growth surges between now and 2024? follow the BTT price predictions in this article.
Owning to the large volume of BTT in circulation, BTT was forecasted to grow at a gradual pace, not exceeding 300% growth, but it has managed to surpass people’s expectations, hitting a 1,288% growth increase from its all-time low price of $0.000268 in 2019. This significant growth surge can be attributed to BTT’s increased use cases as it provides a platform for sharing files with more than 100 million users, powers more DApps, Justin Sun’s influence, and increased trading activities on Binance Exchange.
In the 2021 first quarter, BTT rose to an all-time high of $0.0126 from an opening price of $0.005 on April 5, 2021, recording an impressive 138%, before falling back to $0.00711, marking the close of the first quarter. Based on BTT’s third-quarter closing price, it is hopeful that BTT will experience an average of 150-300% growth surge in the 2nd quarter of 2021.
BTT traded at its 1st quarter closing price, fluctuating between $0.006780 and $0.00711 at the beginning of 2021 Q2. It is hopeful that BTT will test and surpass its ATH Q1 resistant level at $0.012, reaching a new ATH at $0.031, representing a likely 342% growth increase before falling back and stabilizing at $0.012, and closing Q2 at $0.012, representing 71.43% price increase depending on the overall performance of the cryptocurrency market.
Based on past experiences, the cryptocurrency market will likely experience a general price surge in the third quarter of 2021, and this will also affect BTT’s price positively. BTT’s market price will probably open at $0.012 and experience an astronomical price surge due to whaling activities as a result of its relatively low price, increased usage, and general market surge. BTT will likely hit a Q3 ATH at $1, representing its most significant price surge at 8233.33% growth rate, before stabilizing at $0.89, representing a 7316% increase, with periodic price surges.
BTT Predictions 2022-2024
BTT trading for 2022 Q1 will likely open at $0.89, but it will likely experience a bearish downtrend following the downward price movement the market may likely experience in 2022. It is expected that BTT price will reach $1.02 before experiencing a downward surge to an all-time low (ATL) at $0.59, representing a 42% price drop. It is not sure if BTT’s price will trade below $0.59 for the rest of 2022 and probably close at $0.42, representing a further 28% price drop from $0.59.
The 2022 downward price movement might continue midway to 2023 before the BTT price begins to rally up. It is expected that BTT will trade between $0.50 and $0.39 in the first and second quarter of 2023, dipping down by an average of 20.41%. In 2023 Q3, BTT price will likely rally up, closing at $0.89. In 2024, it is expected that the cryptocurrency market will once more experience astronomical price surges as experienced in 2021 Q1, and this will see BTT reaching an ATH at $1.43 and will likely close the year at $1.21, representing a likely 60% growth increase. BTT hitting a new ATH in 2024 could likely be attributed to revolutionary changes taking place on the BTT/Tron blockchain network, increased whaling activities, and probably coin burning.
BTT’s price chart shows a stable upward price movement with periodic price surges and retracement as experienced on April 5, 2021, with BTT hitting an ATH of $0.012 from $0.005, representing 138% growth, 4,377.61% growth from its 2019 ATL at $0.000268, before stabilizing at $0.007, which represents a critical support level for BTT. Based on this analysis, it is hopeful that BTT will retest its $0.012 resistance level and likely surpass it to have a new support level at $0.012.
BTT’s price will likely be influenced by increased use cases, future developments on its blockchain network, increased popularity, whaling activities, and Bitcoin’s performance. Based on this, it is highly likely that BTT will perform beyond expectations experiencing occasional upward price surges.
BTT, like other cryptocurrencies, cannot be predicted with utmost certainty as it is bound to be affected by price fluctuations resulting from future unforeseen happenings in the cryptocurrency market. Hence, the predictions made in this article do not provide a sole basis on which trading decisions should be made. Despite the uncertainties surrounding BTT’s price predictions, it is hopeful that BTT will experience strong upward price movement for the rest of the year.