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- Published: October 10, 2021 15:09
New Delhi: BitTorrent is a leading software that is usually used to download online content like books and movies. It’s their motto to Tokenize the world’s largest decentralized file-sharing protocol with BTT.
BTT is a TRC-10 utility token based on the blockchain that powers features of the most popular decentralized protocols and applications in the world. DApps powered by BTT includes BitTorrent Speed, BitTorrent File System, DLive, and others in the pipeline.
BitTorrent is observing a slight bearish correction which can eventually push it to its new future low. BTT saw a price gain of more than 3.5 percent in the intraday session and is trading around $0.00404.
The peer-to-peer file sharing platform has become very popular on the internet. BitTorrent saw a price correction but then soon reverted to the uptrend.
As per analysts, BTT can give investors huge gains in the future. Right now it is going through a weak recovery trying reaching to their previous high. BTT will need a 71% jump from here to reach its All-Time High.
The weekly technical chart of BTT price depicts that a downward trend can come in the upcoming days. BitTorrent is seeing some mixed indexes in the market.
BTT price prediction
The 4-hour chart depicts that BTT saw a strong upward trend in the few weeks as it has risen by more than 22% from its low from September. With this, it has moved above the 23.6 % Fibonacci retracement price level. Fortunately, two averages have formed a bullish crossover pattern.
It is expected that BTT’s price will keep rising with some resistance as bulls are targeting the 38.2% Fibonacci retracement level at $0.0038 which is some 8% above the current price level.