New Delhi: BitTorrent’s price has struggled in recent weeks after a strong bull run in March that accumulated over 700% in less than a month. Right now, BTT is trading at $ 0.0025, almost 80% of its all-time high.
The price of BTT has already plunged more than 400% since its peak. Despite these conditions, the price is still aiming for a massive rise in the coming days, according to Coinpedia
What is BitTorrent?
BitTorrent is a popular peer-to-peer (P2P) file sharing and torrenting platform that has become increasingly decentralized in recent years. The platform also helps people to stream content like music and movies. According to its website, BitTorrent has over 2 billion users worldwide and over 100 million monthly active users.
Originally launched in July 2001, BitTorent was acquired by the TRON blockchain platform in July 2018.
Since its acquisition, BitTorrent has added several tools, as well as BTT, a custom native cryptocurrency token launched in February 2019. BTT was launched on TRON’s own blockchain network using the TRC-10 standard.
According to the official statement, BitTorrent is currently the “largest decentralized P2P communication protocol” in the world.
BitTorrent Price Prediction
The current chart shows that the price of BTT has been under downward pressure in recent weeks. The BAT pattern formed is quite huge and therefore a massive uptrend could be considered. Analysts predict a 500% jump in price and if all goes well, price may soon revise levels around ATH, according to CoinPedia
The future price will depend on the ability of the bulls to push the price above the upper side of the descending channel. If that happens, the next key resistance level to watch will be $ 0.0040, which was the highest level on June 4. The alternate scenario is where the coin re-tests the lower side of the channel at $ 0.0017, according to Investingcube.
How to buy BTT
If you are looking to buy BTT or any other part, you can use these apps:
Download the WazirX application and create your account. Before you start investing in Dogecoin, you need to do eKYC and enable 2-factor authentication. You must also add your bank details to add and withdraw money.
Once you have added your bank account and completed the KYC, you can view the list of coins available for trading. Press the Buy button in front of Dogecoin, then enter the amount you want to invest in the Dogecoin. You can make payments directly by wire transfer, credit card, Carr debit card, or UPI.
2. Coin mechanism
CoinSwitch is another notable and safe cryptocurrency exchange in India that allows you to buy and trade Dogecoin in India. You need to install the app, register using your phone number and add your bank account. As the app deals with crypto trading, you also need to do KYC. Once you have added your bank account, you can purchase Dogecoin using Indian currency.