BitTorrent (BTT) Price Prediction and Analysis in March 2020

We will be looking into some of the historical price movements of the BitTorrent crypto to formulate a BTT price prediction for March 2020.

BitTorrent Overview

BitTorrent has been active in the file-sharing market since 2004 and offered the first widely implemented peer-to-peer technologies in the world. In 2018, BitTorrent was acquired by the Tron cryptocurrency project.

Tron then created a native coin for the BitTorrent environment using the TRC-10 token standard of the TRON platform. BitTorrent users are able to use the coins to access the services of the platform.

BTT is currently ranked 68th according to a market cap of $41,599,839, with a 24-hour volume of $53,692,376. The circulation supply is 212.116.500.000 BTT out of a total of 990.000.000.000 BTT.

BitTorrent (BTT) Price Prediction: Analysis

BTT started March at a price of $0,000362, that day maintaining a constant intraday development. The first week of March saw BitTorrent spiking regularly, reaching $0.00037 levels and even $0.00038. On March 7^th, BTT peaked at a new intraday high of $0.000395, which was also the highest value of the month so far. But these gains were short-lived, as there was a pullback towards the end of the day, which brought BTT to $0,000371.

The next day, BTT lost even more because of bearish pressure, closing the day at $0,000319. On March 9^th and 10^th, the coin struggled to keep itself above $0,000320, having minor fluctuations around this price level.

On March 11^th, BTT dropped below the previous major support level of $0.000320 and closed at $0,000314. March 12^th saw a rapid crash of the coin, going under $0.0003 and $0.0002 support levels, reaching $0,000185, which was also its closing price. The next day, BitTorrent opened at $0,000187 and saw a minor movement towards its previous levels, managing to close above the $0.0002 level towards the end of the day.

The next few days, BTT fluctuated between $0.00022 and $0.00019, struggling to keep itself above the $0.00020 level.

Today, March 18^th, BitTorrent is trading at a price of $0.000196, with a decrease of -2.80% in the last 24-hour period. The immediate major resistance level is set at $0.000211, and if BTT manages to get past this value, BTT might go on and increase to the next resistance of $0.000230. If it goes below the $0.00019 support, then this could trigger another bearish movement.

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

• Resistance Level (R3): 0.000247
• Resistance Level (R2): 0.000230
• Resistance Level (R1): 0.000211
• Pivot Point: 0.000194
• Support Level (S1): 0.000175
• Support Level (S2): 0.000158
• Support Level (S3): 0.000140

Developments

On March 15^th, it was revealed that the new BitTorrent Speed will soon be updated with multiple supports for tokens, such as BTT (BitTorrent Token), TRX (Tron), USDT (Tether), and their distribution will start in this week.

BitTorrent Speed was released as an integrated app for uTorrent enabling users to earn BTT tokens when they seed torrents, including their bandwidth.

📣New #BitTorrentSpeed version supporting multiple tokens (BTT, TRX, USDT for the beginning) is on the way. We will start the distribution this week.#TRX #BTT $TRX $BTT @justinsuntron @Tronfoundation pic.twitter.com/pc5OVFz3DD

— BitTorrent Inc. (@BitTorrent) March 15, 2020

The BitTorrent update includes a newly designed dashboard that will allow tracking and managing the user’s coins and improve download speed.

The upgrade also introduces a new BTT wallet that implements industry level encryption to bring more security.

The new version resolved past issues, fixing logging of increased speed toggle and wallet crashing during service downtimes, as well as preventing seed phrases from being set on importing account failures.

The new updated version has support in four different languages, namely Russian, Korean, Spanish, and Portuguese.

BitTorrent Price Prediction: Market Opinion for March 2020

Several sites have launched their own BTT price prediction, and we have included some of the most relevant ones from crypto analysis and forecast sites to provide you with a better sense of the market sentiment for this coin.

Digitalcoinprice

Digitalcoinprice believes that BTT will reach a price of $0.0003363 in March 2020, which signifies an increase of 68.41%.

Bitverzo

Bitverzo expects BitTorrent to reach a price of $0.001443 at the end of March, with a minimum of $0.001270 and a maximum of $0.001604.

Gov.capital

Gov.capital‘ s BTT price prediction for March 31^st is $0.000066, with a minimum of $0.0000653 and a maximum of $0.000066.

WalletInvestor

WalletInvestor made its own BTT price prediction for the next days of March, along with its respective maximum, minimum, and average values:

Cryptorating

Cryptorating expects that BTT will reach a price of $0.000075 in one day, which means a decrease of -62.31% and, in one week, it estimates that the price will be around $0.000219, which signifies an increase of 10%.

Coinpredictor

The Coinpredictor BTT price prediction for the next 24 hours foresees a decrease of -2.6%, which would place the coin around $0.000449 and, by the end of the next week, they expect a drop of -10.2%, driving the price to $0.000414.

BitTorrent Price Prediction: Verdict

This has been our BTT price prediction for the first month of the year 2020. We hope that the information we provided will be of help to you in your trading endeavors.

coindoo

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