А lot of Gen Z may be unfamiliar with the phenomenon of torrenting – these days, we pay for Netflix instead of pirating. But there were times when stealing content online was almost the norm. And it was this norm that first introduced the idea of decentralization to the general public.
The torrent protocol allows people to share files between them through the Internet via a specific client. It works a little bit like blockchain: if you want to download a file, your client accesses hundreds of computers all around the world who already have this file and downloads small pieces of the whole thing from each of them. It greatly increases the width of the channel and allows for faster downloading. These days, the usage of the torrent protocol is limited by copyright, and users tend to use VPNs to combat the restrictions.
BitTorrent was the first client for this protocol – being launched on July 2, 2001, it is about to celebrate its legal age. Up to date, it is the largest decentralized file sharing protocol. To further the comparison with crypto, it was an open source project up until 2005.
The father of BitTorrent is New York’s programmer Briam Cohen, who is also known for launching the Chia coin back in 2017 (named to be one of the most environmentally friendly alternatives to Bitcoin)
What Is BitTorrent (BTT)?
TRON acquired BitTorrent back in 2018. This acquisition was a part of the so-called “Project Atlas”, aimed at acquainting more people with the benefits of Blockchain technology. Six months later the BTT token was launched on the TRON blockchain. Because of that, it complied with the TRC-10 standard instead of the famous Ethereum’s ERC-20.
The token compensates those who continue uploading files to the network after having downloaded them, thus incentivizing people to help the platform work better. It also gives users an option to prioritize their channel and download the file faster. Premium services that can be accessed via the token allow you to access automatic VPN or turn off ads on the platform.
The total supply of the tokens (which is 990 bil) is distributed as follows:
- 20% is within the BitTorrent ecosystem;
- 20% is held by the Tron foundation;
- 20% is reserved for airdrops (scheduled to happen anytime before 2025);
- 9% is within a seed sale;
- 6% was sold in a public sale;
- 4% is reserved for the partners of the project;
- 2% was sold in a private sale.
BitTorrent (BTT) Price Analysis for the Past Several Years
The ICO (initial coin offering) of the token was remarkably successful – it raised $7 mil in a matter of 15 minutes.
Аt the time of launch in February 2019, BTT was traded at $0.0004355. The next two years were virtually uneventful for the token: its price was almost exactly the same by February 2021 ($0.0004634).
However, that same month the token started experiencing a strong bear trend. It brought the price of BTT to an all-time high of $0.01 in April 2021 and ended in July with the price of $0.001954 on July 20.
This year brought a bearish trend for the token: it’s price dropped from $0.002758 to $0.0008712. It is currently back at the February 2021 level, before the big surge happened.
BitTorrent (BTT) Price Prediction for 2022, 2023, 2024, 2025, 2027, 2030
We have to preface this section with the classic phrase: this article does not contain any financial advice. It is merely a mixture of information drawn from open sources with a touch of our personal opinion. We highly advise you to conduct your own research before making any investment decisions.
All current BTT price predictions put it way below the $1 level with a lot of zeros after the decimal point, so it may be a little bit hard to comprehend. During the height of its performance, some people predicted that the token will reach $0.02 by the end of 2021, but this did not materialize, and now we’re talking about a completely different price range.
Walletinvestor predicts that BTT can hit $0.000001 by the end of June, but their overall prognosis is grim: they do not exclude the possibility of the token dropping by almost 90% to a level of 0.000000099 USD. After that, the price of the token will allegedly see a drop or around 80% every year until the end of the forecast (2027).
Priceprediction puts the future prices of BTT in this order:
- 2022 – $0.00000231 (min = $0.00000222, max = $0.00000264);
- 2023 – $0.00000327 (min = $0.00000315, max = $0.00000384);
- 2024 – $0.00000479 (min = $0.00000463, max = $0.00000551);
- 2025 – $0.00000724 (min = $0.00000704, max = $0.00000822);
- 2026 – $0.00000982 (min = $0.00000946, max = $0.00001204);
- 2027 – $0.00001483 (min = $0.00001444, max = $0.00001673);
- 2028 – $0.00002176 (min = $0.00002102 , max = $0.00002524);
- 2029 – $0.00003131 (min = $0.00003044, max = $0.00003665);
- 2030 – $0.00004376 (min = $0.00004220 , max = $0.00005333);
- 2031 – $0.00006421 (min = $0.00006202 , max = $0.00007412);
As we can see, the price in this prediction becomes a little bit more robust around the middle 2020s, but then drives back to the level of the beginning of the decade.
Coinquora stands out among other crypto prophets and thinks that BTT has a bullish future.
- 2022 – $0.00000229;
- 2023 – $0.00000400;
- 2024 – $0.00000700;
- 2025 – $0.00001;
- 2026 – $0.00002;
- 2027 – $0.00003;
- 2028 – $0.00005;
- 2029 – $0.00007;
- 2030 – $0.0001;
Their prediction is based on the assumption that the platform will expand the number of integrations and sign more partnership deals in the next two years.
Coinmarketcap’s Аnsh Rathod has been strongly advising against purchasing BTT for several weeks in a row. His report states that the token has been continuously breaking the support levels it just established. However, trading volumes have increased greatly in the second week of June, so a shift might be near.
Q&A part:
Who are the people behind BTT?
While the original platform was launched by the programmer Bram Cohen, the token itself was brought to life thanks to Justin Sun, the CEO of Tron. Existing under the wing of such a well-known corporation brings its benefits but also its drawbacks which we will cover later.
Where can I buy BTT?
The token is available on Bibox, Binance TR, Mexo, Tokocrypto and others. The best price is offered by Azbit, Bitci, PancakeSwap and Corbit. You can purchase it with fiat, stablecoins or other crypto.
Conclusion
The current price predictions for BTT are not really sanguine, so we may conclude that it is not the best long-term investment.
When considering whether to buy BTT, you should also factor in the personality of Justin Sun. The CEO of Tron has been notorious for his controversial remarks and lashing out at Vitalik Buterin, the main figure in the Ethereum project and his direct competitor. Elon Musk’s tweets have negatively affected the stock price of Tesla, and the same effect may apply to all projects associated with Sun.
