Where Is BitTorrent Going Next? - Kakiforex | Forex markets for the smart money. Where Is BitTorrent Going Next? Where Is BitTorrent Going Next?

June 12, 2021

Where Is BitTorrent Going Next?

 The Torrent platform is a popular and growing decentralized in recent years.


However, BitTorrent (BTT) serves as a peer-to-peer (P2P) -based file sharing, launched in February 2019 after being taken over by TRON (TRX) using the TRC-10 standard on TRON’s own blockchain.


Exclusively, BitTorrent is now the world's largest decentralized P2P communication protocol under the control of Justin Sun.


On the current BTT/USDT price movement chart, the price movement started to make a sharp increase of over 3,000% from the beginning of Feb to 5 Apr 2021 with the all -time high (ATH) level at the $ 0.014 price level.


However, BitTorrent failed to continue the next rise due to the Market ‘Crash” which was affected by the fall of Bitcoin (BTC) to make a decline to the support level around $ 0.0030.



From a technical point of view, the price movement is trying to enter the SBR (support become resistance) zone around $ 0.0046 where the zone was difficult to break before.


If BitTorrent is able to break that resistance level, a higher rise will head to the next SBR zone around $ 0.0065 if the movement sees a Bullish trend.


However, if BitTorrent shows a weak price movement, the previously reached $ 0.0030 support level will be tested again and will be the observation of investors.


At the time of writing, BitTorrent traded $ 0.0036 down 2% in 24 hours.