Crypto News

BitTorrent: A good time to invest in the world’s largest P2P network

Is It a good time to invest in BitTorrent?

BitTorrent weekly report: Consolidation and growth

BitTorrent is a leading peer-to-peer sharing technology founded in 2004 in San Francisco. It is the world’s largest decentralized P2P network. The flagship products like BitTorrent and µtorrent allow users to download large files on the Internet by collaborating with legitimate third-party content providers. BitTorrent has been installed in over 1 billion devices across the world. It also has products like anti-malware screening, antivirus, and file-converting systems. 

Top 5 Things You Missed Last Week on BitTorrent

In the last week, BitTorrent price consolidated, and the network ran smoothly, so here are things you may have missed last week in the BitTorrent network:

  • In the past week, the market cap was over $550 million, and the daily trading volume was over $100 million. 
  • The number of total miners in BTFS crossed 7 million, with a total contract of 105 million.  
  • BTFS version 2.3.2 is still in progress. 
  • The total number of BTFS wallets has been over 390 million in the past week. 
  • The number of BitTorrent Twitter followers crossed 630K. 

At the time of writing this post, BTT/USD is trading around $0.0000006042, which is in a consolidation phase. Last week, it consolidated between $0.000000601 and $0.000000607. 

The BTT price will consolidate this month, so it is a good time to invest for the short term because RSI is over 45, and candlesticks are forming within the narrow Bollinger Bands with higher daily volume. However, $0.000000605 is a resistance, and BTT faces selling pressure above this range. Indeed, you can take the benefit of this sideways movement. 

Based on our algorithmic BitTorrent forecast, the price will cross $0.0000015 this year when it breaks the consolidation. 

After that, you may find a range-bound market due to global issues; the price will consolidate between $0.0000016 and $0.0000024. However, the BTT price will cross $0.000005 in 2030. It is a great time to start investing in BTT/USD.

Michelle Jackson
About author

With a background of finance, Michelle Jackson now writes news stories regarding world's finance and economy at FinanceKnown. She has years of experience in writing news regarding business and market. In her free time, she loves to use different technical aspects to analyze market.
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