BitTorrent (BTT) Price Prediction and Analysis in April 2020

Today, we will be taking an in-depth look at the historical price movements of the BitTorrent crypto to formulate a BTT price prediction for April 2020.

BitTorrent Overview

BitTorrent has been used as a file-sharing platform since 2004, becoming one of the most used P2P technologies at a global level. The TRON crypto project then purchased BitTorrent in 2018.

The developers at Tron then launched a native token for the BitTorrent environment based on the TRC-10 token standard of the TRON blockchain. BTT tokens enable users to access the resources of this environment.

BTT is currently ranked 78^th according to a market cap of $47,646,406, with a 24-hour volume of $55,680,366. The circulation supply is 212.116.500.000 BTT out of a total of 990.000.000.000 BTT.

BitTorrent (BTT) Price Prediction: Analysis

On March 12^th, BTT also nose-dived from $0,000314 to $0,000185. The following day, the coin recovered back to $0.0002 level, trading at $0,000218. Until March 18^th, BTT struggled to keep itself above the new $0.0002 resistance level but managed to surpass it on March 19^th by reaching $0,000231.

The next day, BTT managed to keep its new gains and continued to trade sideways for the rest of the month, with values between $0.00021 and $0.00023, with few instances where the coin was trying to break $0.00023 and $0.00024 resistances.

On April 5^th, BTT reached $0,000241, experiencing a bullish momentum that prolonged until April 9^th, in which the coin surpassed the $0.00025 resistance and was even close to hitting $0.00026.

But on April 10^th, the market pullback corrected the price down to $0,000227. The coin continued trading the rest of the days between $0.00022 and $0.00023. On April 14^th, BTT was trading at a price of $0,000226, with an increase of 1,74% in the last 24 hour period.

The calculated support, pivot, and resistance levels by WalletInvestor are:

• Resistance Level (R3): 0.000245
• Resistance Level (R2): 0.000240
• Resistance Level (R1): 0.000233
• Pivot Point: 0.000227
• Support Level (S1): 0.000220
• Support Level (S2): 0.000215
• Support Level (S3): 0.0002078

Developments

BitTorrent just completed another airdrop on April 11^th. Users had to hold TRX in their Binance DEX account to receive BTTB in a way that is directly proportional to the amount of TRX in his balance.

On April 1^st, it was reported that BitTorrent (BTT) usage saw a growth of 6 million over the past month, which represents an increase of 30% from a month ago. BitTorrent’s DAU in April was estimated at 30 million. The Windows client was the most used out of all the BitTorrent implementations, with 2.1M users signing up in April.

The community is now waiting for the launch of the BTT token staking feature, which according to Tron Foundation CEO Justin Sun, will be available in a few days:

“We will launch BTT staking so all BTT hodlers can receive revenue on DLive in April.”

The BitTorrent team has also been making several upgrades to the BTFS file system. The number of BTT-based products greatly increased, adding to the list Windows, macOS, Android, and Web clients, BitTorrent Speed, BTFS, and DLive. The DLive platform recorded an increase of 100%, the highest out of all the platforms, with the Web experiencing a 50% growth.

It should also be noted that BitTorrent Speed amassed more than 2.5 Million users with 800,000 daily active users on the application.

The team posted a recent tweet with their recent accomplishments:

#BTFS Development Update👇

✅Finished end-to-end testing for one signature payout feature
✅Finished End-to-End prototype for offline signing based upload – JS SDK client Library#TRX #BTT $TRX $BTT@justinsuntron @Tronfoundation pic.twitter.com/FzL62u0BIK

— BitTorrent Inc. (@BitTorrent) March 20, 2020

Exciting updates re @BitTorrent ecosystem & $BTT in the last 30 days! #BitTorrent’s DAU has increased 30%, adding 6 mil DAU, which will hit 30 mil in April. @OfficialDLive’s DAU has doubled! We will launch BTT staking so all #BTT hodlers can receive revenue on DLive in April!

— Justin Sun (@justinsuntron) March 27, 2020

“We’ve rolled out BitTorrent Speed partially to fresh installs & will roll out 100% to fresh installs in April. In the Q2, we’ll update Speed with $BTT to all 30 mil DAU. So far, the network’s stability & network effects have improved dramatically since BTT was introduced. We launched #BTFS in March. On the demand side, lots of amazing decentralized products are in the pipeline ready to launch BTFS.”

The CEO also said that the DLive decentralized app will be the first one to go live, as there is a massive storage demand. It was also revealed that new installs will be rolled out in the second quarter to further improve BTFS network effects.

BitTorrent Price Prediction: Market Opinion for April 2020

As a number of sites have issued their own BTT price prediction, we have decided to feature some of the most relevant ones from top crypto analysis and forecast sites to give you an idea regarding the market sentiment for BitTorrent.

Digitalcoinprice

Digitalcoinprice predicts that BTT will be trading at a price of $0.00034580 in April 2020, which means an increase of 52.69%.

Bitverzo

Bitverzo forecasted that BitTorrent’s price will be around $0.001395 by the end of April, with a minimum of $0.001270 and a maximum of $0.001550.

Gov.capital

Gov.capital‘ s BTT price prediction for April 29^th is $0.000286, with a minimum of $0 0.000283 and a maximum of $0.000288.

WalletInvestor

WalletInvestor issues its own BTT price prediction for the next 7 days of April, along with the particular maximum, minimum, and average values:

Cryptorating

Cryptorating anticipates that BTT will reach a price of $0.000205 in one day, which signifies a decrease of -9.69%, and, in one week, it speculates that the price will be set at $0.000255, which implies an increase of 12.33%.

Coinpredictor

The Coinpredictor BTT price prediction for the next day expects a decrease of -2.6%, which would mean a trading price of $0.000449, and, by the end of the next week, the site calculated that the price would be around $0.000414, with a change of -10.2%.

BitTorrent Price Prediction: Verdict

With this, we conclude our BTT price prediction for April 2020. We hope that the information we provided will be of help to you in your future BitTorrent trading endeavors.

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coindoo

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