Bittorrent Crypto: A Smart Investment Decision?

BitTorrent (BTT) is a cryptocurrency token launched on the TRON blockchain in early 2019. It is the native crypto of the peer-to-peer (P2P) file-sharing network BitTorrent, which was acquired by TRON founder Justin Sun in 2018. The BTT token was introduced to incentivize transactions and improve the way customers obtain and download content. Since its launch, BTT has experienced a bullish rally, price dips, and a redenomination in 2022. So, is BTT a good investment?

BitTorrent's performance in 2021

BitTorrent (BTT) is the main crypto token of the BitTorrent Chain, which runs on a heterogeneous cross-chain interoperability protocol. It is the native blockchain of the popular peer-to-peer file exchange platform BitTorrent, which was bought by blockchain platform TRON in July 2018. The BTT token was launched in February 2019 as the native cryptocurrency of BitTorrent.

In 2021, BitTorrent experienced a meteoric surge, hitting a record high of $0.013566 on 5 April 2021. However, the BTT price began to dip throughout mid-2021, decreasing to $0.001954 on 20 July. From September to mid-November, the price made a slight recovery to $0.003443. The price then decreased to $0.002466 by 5 December 2021, and further again to $0.002426 by 11 January 2022.

In December 2021, BitTorrent launched its native blockchain, the BitTorrent Chain, and implemented a redenomination plan, through which users traded their old BTT tokens on the TRON network for new BTT tokens on the BitTorrent Chain at a 1:1000 ratio. This increased the total supply of BTT tokens from 990 billion to 990 trillion.

The BTT token is designed to enhance the capabilities of the BitTorrent protocol, offering faster download speeds and promoting a healthier network. The BitTorrent Chain facilitates up to 7,000 transactions per second, with an average transaction fee of less than $0.01 and a three-second confirmation time.

The BTT token's utility and use cases

BitTorrent Token (BTT) is a cryptocurrency designed to tokenize the world of peer-to-peer file sharing. It was created following the acquisition of BitTorrent, a popular peer-to-peer file-sharing protocol with over 100 million users worldwide, by TRON, one of the world's largest cryptocurrency networks.

• Faster Download Speeds: BitTorrent Speed was the original and remains the primary use case for the BTT token. It allows users who are downloading content to pay BTT to uploaders for faster download speeds. This also incentivizes more participants to upload their content and leave it uploaded for longer periods, as they can earn BTT tokens while doing so.
• BitTorrent File System (BTFS): BTFS is a protocol and a network aimed at achieving a truly decentralized filing system for the internet. It solves the issues of centralization and censorship that plague traditional file storage solutions by utilizing BitTorrent's unique peer-to-peer mechanisms. BTFS is stored and run on the blockchain, further enhancing its decentralized and censorship-resistant properties. It is an essential requirement for Web 3.0, and its decentralized nature allows developers to build decentralized applications (DApps) on top of the protocol.
• DLive: DLive is a decentralized live streaming network built on the Tron blockchain. It was purchased by BitTorrent in 2019 and utilizes BTT to financially empower content creators, viewers, and those willing to stake tokens on the platform. Viewers can subscribe to channels and donate to streamers using BTT, creating a more decentralized internet by eliminating advertising as the primary business model of creators.
• Investment: Like most cryptocurrencies, one of the primary use cases of BTT involves speculating on the token's potential price appreciation over time. As a utility token, some argue that BTT has inherent value and will never go to zero due to the proven network effects of BitTorrent. However, there are regulatory risks related to BitTorrent's association with illegal file sharing that could negatively impact the investment thesis for BTT.

Overall, BTT tokens have a range of utility and use cases within the BitTorrent ecosystem, including faster download speeds, decentralized file storage, content creation and streaming, and investment opportunities.

Expert opinions on the future of BTT

The BTT token was launched in February 2019 on the TRON blockchain, which is currently the "largest decentralised P2P communications protocol". The BTT token is the native cryptocurrency of BitTorrent, which was taken over by the TRON network in July 2018. The BTT token was launched to incentivise transactions and improve the way customers obtain and download content.

The BTT token has experienced a volatile journey since its launch. It enjoyed a bullish rally in spring 2021, hitting a record high of $0.013566 in April 2021. However, prices fell throughout the rest of the year, and by February 2022, the coin had dropped to lows of $0.001826. The price continued to dip further, and by June 2022, BTT had reached a low of $0.000000705.

According to WalletInvestor, the BTT price is expected to decrease to $0.00000006 by the end of 2023 and $0.000000004 by the end of 2025. Gov.capital predicts that BitTorrent could be worth $0.0032 in one year and $0.0233 in five years. DigitalCoinPrice predicts that BTT will average $0.00296 in 2025 and $0.00341 in five years.

The Economic Forecast Agency predicts that the BTT price will end 2022 at $0.00000070 and then decline further to $0.000000024 by the end of 2023. PricePrediction estimates that BTT will average $0.00000284 in 2023 and rise to $0.00004120 by 2030.

It is important to note that cryptocurrency markets are extremely volatile, and it is difficult to make accurate predictions about the future price of BTT. As such, these expert opinions and forecasts should be considered possibilities rather than absolutes.

The BTT token's market cap and ranking

The BTT Tokens: Market Cap and Ranking

The BTT token, launched in February 2019, is the native cryptocurrency of BitTorrent, the world's largest P2P file-sharing network. BitTorrent has over 90 million active users and an installed base of more than 2 billion software clients.

The BTT token was introduced to incentivise transactions on the BitTorrent platform, which was acquired by TRON blockchain founder Justin Sun in 2018. The BTT token was launched on the TRON blockchain and later redenominated in January 2022 following the launch of the BitTorrent mainnet blockchain in December 2021.

The current market cap of BitTorrent stands at $1,529,863,308 as of 9 May 2022, with a circulating supply of 990 billion. According to CoinMarketCap, BTT is ranked 210 as of 9 May 2022. However, another source states that BTT is ranked 81 in the cryptocurrency market. This discrepancy in ranking may be due to differences in the evaluation criteria or the timing of the ranking.

The BTT token has experienced volatility in its value, largely moving in line with the broader cryptocurrency market. It reached an all-time high of $0.013566 in April 2021 but has since declined, with its value as of January 2022 being 0.2973 cents per token. As of November 2022, the redenominated BTT token's value was $0.0000007737, its lowest level since June.

The risks and potential rewards of investing in BTT

Risks

BTT is a highly volatile and risky investment. Its value is dependent on its performance in the crypto market, which is hard to predict. The BTT token has experienced a turbulent history, with its price tumbling 22.5% in the second half of 2021. In 2022, its value decreased by over 50% from January to June. Its all-time low stands at $0.000000636, which it hit on November 21, 2022.

Potential Rewards

BTT is the native crypto of one of the world's largest P2P file-sharing networks, BitTorrent, which has more than 90 million active users and over two billion software clients. BitTorrent was acquired by TRON blockchain founder Justin Sun in 2018, and the BTT utility token was introduced to incentivize transactions. The BTT token has several uses in the BitTorrent Chain ecosystem, including becoming a BTTC network validator, staking to gain rewards, and BTTC governance votes.

According to some crypto experts, the BTT coin is an underrated coin with huge potential for price hikes. Some have predicted that the BTT coin may rise to $0.010 by the end of 2021. However, it is important to exercise caution when considering such predictions, as the crypto market is highly volatile and unpredictable.

Analyst Predictions

Analysts' predictions for the BTT token vary. Wallet Investor predicts that the BTT price could decline to $0.00000006 by the end of 2023. In contrast, DigitalCoinPrice expects a slow upward trajectory, with the token averaging $0.00000166 in 2023 and moving up to $0.00000310 by mid-2025. The Economic Forecast Agency forecasts a bearish outlook, with the BTT price ending 2022 at $0.00000070 and further declining to $0.00000024 by the end of 2023. PricePrediction's deep machine learning analysis estimates that BTT could average $0.00000284 in 2023 and rise to $0.00004120 by 2030.

Frequently asked questions