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BitTorrent Price Prediction 2024: Can BTT Recover From Losses?

Last Updated February 12, 2024 11:13 AM
Giuseppe Ciccomascolo
Last Updated February 12, 2024 11:13 AM

Key Takeaways

  • BitTorrent’s community announced the launch of the BTIP-51 proposal discussion.
  • The price of BTT has notably decreased since its launch in January 2022.
  • One price prediction says BTT may reach $0.000004 next year.

The BitTorrent technical community has announced the launch of the BTIP-51 proposal discussion.

BTIP-51 introduces an innovative concept: incorporating file metadata into the blockchain. This proposal aims to revolutionize data storage by enhancing security and decentralization.

Currently in the review status, this proposal invites your active participation. Your insights and suggestions on GitHub are invaluable as we collectively shape the future of BitTorrent.

BitTorrent did not immediately respond to a request for comment

But what is BitTorrent (BTT)? How does BitTorrent work? Let’s see what we can find out, and also take a look at some of the BitTorrent price predictions that were being made as of February 12, 2024.

BitTorrent Price Prediction

Let’s examine some of the BitTorrent price predictions being made on February 12, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.

2024 2025 2030
Prediction #1 $0.00000213 $0.00000252 $0.00000729
Prediction #2 $0.000003 $0.000004 $0.000028
Prediction #3 $0.00000185 $0.00000242 $3,396.90

BitTorrent Price Prediction for 2024

DigitalCoinPrice  said that BitTorrent would reach $0.00000213 this year. PricePrediction.net   thought the token would trade at $0.000003. Coinpedia  argued BTT would be valued at $0.00000185 by the end of the year.

BitTorrent Price Prediction for 2025

Moving on, Coinpedia thought BitTorrent would trade at $0.00000242 in 2025. DigitalCoinPrice had the token coming in at $0.00000252 that year. PricePrediction.net said BTT would be worth $0.000004 next year.

BitTorrent Price Prediction for 2030

Looking at a more long-term BitTorrent price prediction, PricePrediction.net said the token would hit $0.000028 in 2030. Coinpedia suggested it would reach $0.00000468 that year. DigitalCoinPrice made a BTT price prediction that had it trade at $0.00000729 at the start of the next decade.

Google Gemini Price Prediction for BitTorrent (as of February 12)

Google’s Gemini platform gave the following price prediction for BitTorrent on February 12. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve.

Additionally, artificial intelligent price predictions are predicated on past performances and are in no way entirely accurate.

Short Term (Next 3 months)

  • Expected price: $0.00000965
  • Reasons:
    • Overall Crypto Market: The price of BTT is likely to be influenced by the overall sentiment and direction of the cryptocurrency market.
    • BitTorrent Ecosystem Development: News and updates about the BitTorrent ecosystem, such as new partnerships, integrations, or platform features, could impact the price.
    • Regulatory Environment: Changes in regulations surrounding cryptocurrencies could affect the price of BTT.
    • Trading Volume: Higher trading volume can indicate increased interest and potentially lead to price fluctuations.

Medium Term (Next 6 months)

  • Expected price: $0.0000004316
  • Reasons:
    • Overall cryptocurrency market sentiment: A positive market outlook could benefit BTT, while a negative one could lead to a price drop.
    • BitTorrent ecosystem development: Adoption of the BitTorrent protocol and its BTT token for file sharing and other services could positively impact the price.
    • Regulations: Changes in cryptocurrency regulations could create uncertainty and affect the price.
    • News and events: Positive news or announcements related to BitTorrent could trigger price increases, while negative news could lead to price drops.

Long Term (Next 5 years)

  • Expected price: $0.000001
  • Reasons:
    • Overall market trends: The cryptocurrency market is volatile and can see influence by factors such as economic conditions, regulations, and investor sentiment.
    • Adoption and use of BTT: The price of BTT will likely be impacted by its adoption and use within the BitTorrent ecosystem and other applications.
    • Development and partnerships: Future developments and partnerships related to BitTorrent could positively impact the price of BTT.

BitTorrent Price History

Now, let’s examine the BitTorrent price history . While we should never take past performance as an indicator of future results, knowing what the token has achieved can provide us with some very useful context if we want to make or interpret a BitTorrent price prediction.

BTT first came onto the open market in January 2022, when it was worth $0.000002757. It then increased, reaching its highest level since then of $0.000002855 after a few days, before starting a downtrend that is still lasting.

BitTorrent ended 2023 at $0.0000006242 but increased in early 2024. A BTT is worth $0.0000009753 at the time of writing (February 12, 2024).

BitTorrent price history
BitTorrent price in 2023 and 2024 | Credit:CoinMarketCap
As of February 12, 2024, there were 968.2 billion BTT in circulation, out of a total supply of 990 billion. This gave BitTorrent a market cap of about $945.1 million, making it the 71st largest crypto by that metric.

Is BitTorrent a Good Investment?

It is hard to say. The token’s price moved up recently, but we don’t know how sustainable the recent upturn is.

As always with crypto, you will need to make sure you do your own research before deciding whether or not to invest in BTT.

Will BitTorrent go up or down?

No one can really tell right now. While the BitTorrent crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.

Should I invest in BitTorrent?

Before you decide whether or not to invest in BitTorrent, you will have to do your own research, not only on BTT, but on other coins and tokens such as Ordinals (ORDI). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

BitTorrent (BTT) Explained

The BitTorrent token is a TRC-10 token on the Tron (TRX) blockchain. The BTT token intends to build a token-based economy for networking, bandwidth, and storage resources on the existing BitTorrent network, e.g., it attempts to provide a way for network participants to “capture the value of sharing bandwidth and storage.

How BitTorrent Works

BitTorrent peer-to-peer (P2P) protocol finds users with files other users want and then downloads pieces of the files from those users simultaneously. Consequently, transmission rates are faster than with http and ftp, which both download files sequentially from only one source.

BitTorrent Attention Tracker

BitTorren Google search volume
BitTorren’ Google search volume for the last 90 days. | Credit: Google
Here is a chart for BitTorrent Google search volume for the past 90 days. This represents how many times the term “BitTorrent BTT” has been Googled over the previous 90 days.

FAQs

How many BitTorrent are there?

As of February 12, 2024, there were 968.2 billion BTT in circulation, out of a total supply of 990.0 billion.

Will BitTorren reach $1?

It looks impossible, right now. No main price prediction sees the BTT price close to one cent soon.

What is BitTorrent?

The BitTorrent token is a TRC-10 token on the Tron blockchain. The BTT token intends to build a token-based economy for networking, bandwidth, and storage resources on the existing BitTorrent network, e.g., it attempts to provide a way for network participants to “capture the value of sharing bandwidth and storage.

Disclaimer

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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