BitTorrent (BTT) Price Prediction 2024, 2025–2030

Explore short and medium-term BitTorrent price prediction analysis and check long-term BitTorrent forecasts for 2025, 2030, and beyond

5-Day Prediction
$?0.0?1117
1-Month Prediction
$?0.0?2816
3-Month Prediction
$?0.0?2967
6-Month Prediction
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1-Year Prediction
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2025 Prediction
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2030 Prediction
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2040 Prediction
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2050 Prediction
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Current Price $?0.0?8577
Price Prediction $?0.0?2816  (228.47%)
Fear & Greed Index 69 (Greed)
Sentiment Bearish
Volatility 3.47%
Green Days 12/30 (40%)
50-Day SMA $?0.0?9084
200-Day SMA $?0.0?9983
14-Day RSI 38.12

According to our current BitTorrent price prediction, the price of BitTorrent is predicted to rise by 228.47% and reach $?0.0?2816 by November 25, 2024. Per our technical indicators, the current sentiment is Bearish while the Fear & Greed Index is showing 69 (Greed). BitTorrent recorded 12/30 (40%) green days with 3.47% price volatility over the last 30 days. Based on the BitTorrent forecast, it's now a bad time to buy BitTorrent.

$
≈ $?3,730.67

If you invest $?1,000.00 in BitTorrent today and hold until Dec 03, 2024, our prediction suggests you could see a potential profit of $?3,730.67, reflecting a 373.07% ROI over the next 36 days (fees are not included in this estimate).

Disclaimer: This is not investment advice. The information provided is for general information purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

Short-Term BitTorrent Price Targets

DatePredictionPotential ROI
Oct 27, 2024$?0.0?8574
0.03%
Oct 28, 2024$?0.0?9036
5.36%
Oct 29, 2024$?0.0?9632
12.30%
Oct 30, 2024$?0.0?1036
20.77%
Oct 31, 2024$?0.0?1117
30.21%

Over the next five days, BitTorrent will reach the highest price of $?0.0?1117 on Oct 31, 2024, which would represent 30.21% growth compared to the current price. This follows a -8.15% price change over the last 7 days.

BitTorrent Prediction Table

202420252026202720282029203020402050
MonthMin. PriceAvg. PriceMax. PricePotential ROI
Oct 2024$?0.0?8574$?0.0?1735$?0.0?2917
240.10%
Nov 2024$?0.0?2655$?0.0?3419$?0.0?4057
373.07%
Dec 2024$?0.0?2132$?0.0?2490$?0.0?2960
245.11%

In 2024, BitTorrent (BTT) is anticipated to change hands in a trading channel between $?0.0?8574 and $?0.0?4057, leading to an average annualized price of $?0.0?2548. This could result in a potential return on investment of 373.07% compared to the current rates.

BitTorrent Price Prediction 2024

October 2024: BTT Prediction

With a negative market trend seen last month (with the price of BTT losing -11.96%), BitTorrent is expected to reject the trend in October. The projected monthly trading range is between $?0.0?8574 and $?0.0?2917, with the average monthly value sitting at $?0.0?1735, which would be a 78.06% increase compared to the previous month. This could offer investors a potential return of 240.10%.

Potential ROI: 240.10%

November 2024: BTT Prediction

Forecasts for November suggest a continuation of the market trend, with a potential price increase to $?0.0?3419. The expected price range lies between $?0.0?2655 and $?0.0?4057, influenced by last month's market performance. Investors may witness a potential gain of 373.07%, if they decide to buy BTT at current prices and sell it at predicted rates.

Potential ROI: 373.07%

December 2024: BTT Prediction

BitTorrent is predicted to finish the year by changing hands in a trading channel between $?0.0?2132 and $?0.0?2960. This would entail that the price of BTT increased by 190.31% in comparison to today’s prices (assuming December’s average price of $?0.0?2490). In other words, investors would generate a potential profit of 245.11% if BTT follows the prediction.

Potential ROI: 245.11%

BitTorrent Price Prediction 2025

In 2025, BitTorrent is forecasted to trade in a price channel between $?0.0?1462 and $?0.0?3454. On average, BTT is expected to change hands at $?0.0?2214 during the year. The most bullish month for BTT could be January, when the currency is anticipated to trade 302.69% higher than today.

MonthMinimum PriceAverage PriceMaximum PricePotential ROI
January$?0.0?2233$?0.0?2739$?0.0?3454
302.69%
February$?0.0?2920$?0.0?3064$?0.0?3218
275.15%
March$?0.0?2255$?0.0?2664$?0.0?3028
253.00%
April$?0.0?1884$?0.0?2171$?0.0?2422
182.44%
May$?0.0?1694$?0.0?2123$?0.0?2304
168.66%
June$?0.0?1462$?0.0?1649$?0.0?1851
115.77%
July$?0.0?1554$?0.0?1651$?0.0?1811
111.13%
August$?0.0?1588$?0.0?1803$?0.0?2179
154.11%
September$?0.0?2058$?0.0?2267$?0.0?2377
177.18%
October$?0.0?2075$?0.0?2217$?0.0?2344
173.31%
November$?0.0?2088$?0.0?2214$?0.0?2279
165.69%
December$?0.0?1703$?0.0?2011$?0.0?2143
149.90%

BitTorrent Price Prediction 2026

Generally speaking, BitTorrent price prediction for 2026 is bullish. The BTT cryptocurrency is forecasted to hit a high point of $?0.0?1869 in January and reach a low of $?0.0?7149 in August. Overall, BTT is expected to trade at an average price of $?0.0?1180 in 2026.

MonthMinimum PriceAverage PriceMaximum PricePotential ROI
January$?0.0?1707$?0.0?1787$?0.0?1869
117.90%
February$?0.0?1394$?0.0?1573$?0.0?1735
102.27%
March$?0.0?1151$?0.0?1329$?0.0?1439
67.83%
April$?0.0?1178$?0.0?1267$?0.0?1396
62.80%
May$?0.0?1266$?0.0?1363$?0.0?1543
79.91%
June$?0.0?1129$?0.0?1288$?0.0?1374
60.20%
July$?0.0?9862$?0.0?1115$?0.0?1202
40.09%
August$?0.0?7149$?0.0?8522$?0.0?1019
18.86%
September$?0.0?7904$?0.0?8276$?0.0?8961
4.48%
October$?0.0?8537$?0.0?9379$?0.0?1062
23.79%
November$?0.0?8855$?0.0?9573$?0.0?1063
23.94%
December$?0.0?7968$?0.0?8604$?0.0?9279
8.19%

BitTorrent Price Prediction 2027

The outlook for BitTorrent in 2027 indicates a possible uptrend, with an expected price of $?0.0?9958. This represents a 16.11% increase from the current price. The asset's price is projected to oscillate between $?0.0?7839 in July and $?0.0?1671 in December. Investors could see a potential ROI of 94.77%, suggesting a favorable investment environment.

MonthMinimum PriceAverage PriceMaximum PricePotential ROI
January$?0.0?7933$?0.0?8434$?0.0?8755
2.08%
February$?0.0?8409$?0.0?8558$?0.0?8738
1.88%
March$?0.0?8100$?0.0?8397$?0.0?9030
5.29%
April$?0.0?8742$?0.0?9248$?0.0?1019
18.82%
May$?0.0?9929$?0.0?1032$?0.0?1095
27.63%
June$?0.0?8389$?0.0?9666$?0.0?1025
19.54%
July$?0.0?7839$?0.0?8322$?0.0?8751
2.03%
August$?0.0?8256$?0.0?8425$?0.0?8660
0.97%
September$?0.0?8548$?0.0?8990$?0.0?9692
13.00%
October$?0.0?9659$?0.0?1203$?0.0?1608
87.43%
November$?0.0?1158$?0.0?1209$?0.0?1356
58.14%
December$?0.0?1288$?0.0?1503$?0.0?1671
94.77%

BitTorrent Price Prediction 2028

Following a bullish trend in the previous year, 2028 is expected to continue this momentum. BitTorrent’s value is forecasted to increase, potentially reaching an average price of $?0.0?1809. The price is predicted to fluctuate between a low of $?0.0?1346 in March and a high of $?0.0?2735 in September.

MonthMinimum PriceAverage PriceMaximum PricePotential ROI
January$?0.0?1517$?0.0?1578$?0.0?1644
91.72%
February$?0.0?1353$?0.0?1441$?0.0?1615
88.32%
March$?0.0?1346$?0.0?1407$?0.0?1544
79.97%
April$?0.0?1464$?0.0?1531$?0.0?1585
84.78%
May$?0.0?1483$?0.0?1505$?0.0?1534
78.85%
June$?0.0?1508$?0.0?1535$?0.0?1592
85.61%
July$?0.0?1605$?0.0?1634$?0.0?1674
95.21%
August$?0.0?1597$?0.0?1692$?0.0?1937
125.88%
September$?0.0?1935$?0.0?2316$?0.0?2735
218.88%
October$?0.0?2150$?0.0?2372$?0.0?2473
188.37%
November$?0.0?2312$?0.0?2396$?0.0?2478
188.95%
December$?0.0?2197$?0.0?2305$?0.0?2431
183.47%

BitTorrent Price Prediction 2029

Forecasts for 2029 suggest that BTT will experience a significant growth, with expected fluctuation ranging from $?0.0?2355 to $?0.0?5470. Investors might anticipate a potential ROI of 537.70%, aligning with a bullish outlook for the year.

MonthMinimum PriceAverage PriceMaximum PricePotential ROI
January$?0.0?2355$?0.0?2505$?0.0?2682
212.73%
February$?0.0?2648$?0.0?2817$?0.0?3025
252.72%
March$?0.0?2769$?0.0?3133$?0.0?3643
324.79%
April$?0.0?3568$?0.0?4598$?0.0?5470
537.70%
May$?0.0?4215$?0.0?4546$?0.0?4937
475.61%
June$?0.0?3626$?0.0?3968$?0.0?4462
420.23%
July$?0.0?2930$?0.0?3388$?0.0?3856
349.60%
August$?0.0?3290$?0.0?3592$?0.0?3844
348.16%
September$?0.0?2903$?0.0?3139$?0.0?3352
290.83%
October$?0.0?2879$?0.0?3109$?0.0?3408
297.33%
November$?0.0?3235$?0.0?3377$?0.0?3516
309.89%
December$?0.0?2996$?0.0?3094$?0.0?3236
277.29%

BitTorrent Price Prediction 2030

In the long term, BitTorrent could reach a price of $?0.0?3191 in March of 2030. That’s a rather optimistic scenario, as BTT could trade as low as $?0.0?2168 in October. Overall, BTT’s price is projected to hover at around $?0.0?2666 during the year, about 210.79% above the current price of $?0.0?8577.

MonthMinimum PriceAverage PriceMaximum PricePotential ROI
January$?0.0?2747$?0.0?2872$?0.0?3077
258.73%
February$?0.0?2723$?0.0?2817$?0.0?2883
236.11%
March$?0.0?2900$?0.0?3066$?0.0?3191
272.03%
April$?0.0?2751$?0.0?2829$?0.0?2922
240.69%
May$?0.0?2795$?0.0?2879$?0.0?2999
249.71%
June$?0.0?2798$?0.0?2847$?0.0?2879
235.65%
July$?0.0?2795$?0.0?2826$?0.0?2863
233.82%
August$?0.0?2543$?0.0?2769$?0.0?2840
231.09%
September$?0.0?2202$?0.0?2324$?0.0?2452
185.83%
October$?0.0?2168$?0.0?2257$?0.0?2339
172.72%
November$?0.0?2240$?0.0?2278$?0.0?2334
172.07%
December$?0.0?2199$?0.0?2222$?0.0?2247
161.98%

BitTorrent Price Prediction For Years 2024, 2025, 2026, 2027, 2028, 2029, and 2030

Over the next several years, BitTorrent is projected to increase, with prices potentially reaching $?0.0?5470 by 2029. This represents a 537.70% gain from today's value. The long-term forecast suggests a bullish trend, with potential highs of $?0.0?5470 and lows of $?0.0?7149 over the period.

YearMin. PriceAvg. PriceMax. PricePotential ROI
2024$?0.0?8574$?0.0?6369$?0.0?4057
373.07%
2025$?0.0?1462$?0.0?2214$?0.0?3454
302.69%
2026$?0.0?7149$?0.0?1180$?0.0?1869
117.90%
2027$?0.0?7839$?0.0?9958$?0.0?1671
94.77%
2028$?0.0?1346$?0.0?1809$?0.0?2735
218.88%
2029$?0.0?2355$?0.0?3439$?0.0?5470
537.70%
2030$?0.0?2168$?0.0?2666$?0.0?3191
272.03%

BitTorrent Technical Analysis

Sentiment

Bearish

Based on data from October 26, 2024 at 18:38, the general BitTorrent price prediction sentiment is bearish , with 6 technical analysis indicators signaling bullish signals, and 22 signaling bearish signals.

BTT price prediction was last updated on October 26, 2024 at 18:38.

BitTorrent's 50-Day, 200-Day Simple Moving Averages and 14-Day Relative Strength Index - RSI (14)

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Based on our technical indicators, BitTorrent's 200-day SMA will rise in the next month and will hit $?0.0?1058 by Nov 25, 2024. BitTorrent's short-term 50-Day SMA is estimated to hit $?0.0?1385 by Nov 25, 2024.

The Relative Strength Index (RSI) momentum oscillator is a popular indicator that signals whether a cryptocurrency is oversold (below 30) or overbought (above 70). Currently, the RSI value is at 38.12, which indicates that the BTT market is in a neutral position.

Popular BTT Moving Averages and Oscillators for Sun, Oct 27, 2024

Moving averages (MA) are a popular indicator in all financial markets, designed to smooth price action over a certain amount of time. They are a lagging indicator which means they are influenced by historical price activity. In the table below you can find two types of moving averages, simple moving average (SMA) and exponential moving average (EMA).

Daily Simple Moving Average (SMA)

PeriodValueAction
SMA 3$?0.0?8975SELL
SMA 5$?0.0?9005SELL
SMA 10$?0.0?9111SELL
SMA 21$?0.0?9241SELL
SMA 50$?0.0?9084SELL
SMA 100$?0.0?8693SELL
SMA 200$?0.0?9983SELL

Daily Exponential Moving Average (EMA)

PeriodValueAction
EMA 3$?0.0?9182SELL
EMA 5$?0.0?9196SELL
EMA 10$?0.0?9203SELL
EMA 21$?0.0?9196SELL
EMA 50$?0.0?9048SELL
EMA 100$?0.0?9108SELL
EMA 200$?0.0?9441SELL

Weekly Simple Moving Average (SMA)

PeriodValueAction
SMA 21$?0.00BUY
SMA 50$?0.00BUY
SMA 100$?0.00BUY
SMA 200--

Weekly Exponential Moving Average (EMA)

PeriodValueAction
EMA 21$?0.0?9301SELL
EMA 50$?0.0?9118SELL
EMA 100$?0.0?6103BUY
EMA 200--

BitTorrent Oscillators

An oscillator is a technical analysis tool that constructs high and low bands between two extreme values, and then builds a trend indicator that fluctuates within these bounds. Traders use the trend indicator to discover short-term overbought or oversold conditions.

PeriodValueAction
RSI (14)38.12NEUTRAL
Stoch RSI (14)31.64NEUTRAL
Stochastic Fast (14)1.89BUY
Commodity Channel Index (20)-66.67NEUTRAL
Average Directional Index (14)15.92NEUTRAL
Awesome Oscillator (5, 34)0.00NEUTRAL
Momentum (10)0.00NEUTRAL
MACD (12, 26)0.00NEUTRAL
Williams Percent Range (14)-98.11BUY
Ultimate Oscillator (7, 14, 28)42.77NEUTRAL
VWMA (10)0.00SELL
Hull Moving Average (9)0.00SELL
Ichimoku Cloud B/L (9, 26, 52, 26)0.00NEUTRAL

BitTorrent Key Price Levels

Based on today's classical pivot point (P1) with the value of $?0.0?8716, BitTorrent has support levels of $?0.0?8408, $?0.0?8244, and the strongest at $?0.0?7937. Similarly, BitTorrent resistance levels are at $?0.0?8880, $?0.0?9188, and $?0.0?9352.

Support Levels

#PriceStrength
S1$?0.0?8408  
S2$?0.0?8244  
S3$?0.0?7937  

Resistance Levels

#PriceStrength
R1$?0.0?8880  
R2$?0.0?9188  
R3$?0.0?9352  

BitTorrent Correlation

Over the past 7 days, BitTorrent price was most positively correlated with the price of Polkadot (DOT), eCash (XEC), Avalanche (AVAX), NEO (NEO) and Shiba Inu (SHIB) and most negatively correlated with the price of Goatseus Maximus (GOAT), TRON (TRX), Raydium (RAY), SPX6900 (SPX) and Safe (SAFE).

Positively Correlated Currencies

NameCorrelation
0.984
0.977
0.974
0.973
0.971

Negatively Correlated Currencies

NameCorrelation
-0.892
-0.837
-0.754
-0.729
-0.690

BitTorrent price is positively correlated with the top 10 coins by market cap with a price of 0.762, excluding Tether (USDT) and positively correlated with the top 100 coins by market cap excluding all stablecoins with a price of 0.632.

Currencies that are positively correlated with BitTorrent indicate that the movement of one has a statistically significant weight to lead the other in the same direction. For currencies that are negatively correlated with BitTorrent, a move in one direction for BitTorrent would translate into a move in the opposite direction for the negatively correlated coin.

BitTorrent Price Prediction FAQ

What is BitTorrent's price prediction today?

Based on our BitTorrent prediction chart, the price of BitTorrent will increase by 0.00% and reach $?0.0?8574 by Oct 27, 2024.

What is BitTorrent price prediction for tomorrow?

BitTorrent is predicted to gain 0.00% and reach a price of $?0.0?8574 tomorrow.

What is the BitTorrent price prediction for next week?

The BitTorrent price prediction for next week is between $?0.0?8574 on the lower end and $?0.0?1175 on the high end. Based on our BTT price prediction chart, the price of BitTorrent will increase by 37.06% and reach $?0.0?1175 by Nov 03, 2024 if it reaches the upper price target.

What is the BitTorrent price prediction for 2024?

BitTorrent is forecasted to trade within a range of $?0.0?8574 and $?0.0?4057. If it reaches the upper price target, BTT could increase by 373.07% and reach $?0.0?4057.

What is the BitTorrent price prediction for 2025?

According to our BitTorrent price prediction, BTT is forecasted to trade within a price range of $?0.0?8574 and $?0.0?4057 next year. BitTorrent will increase by 373.07% and reach $?0.0?4057 if it reaches the higher value target for 2025.

What is the BitTorrent price prediction for 2030?

The BitTorrent price prediction for 2030 is between $?0.0?2355 on the lower end and $?0.0?5470 on the high end. Based on our BTT price prediction chart, the price of BitTorrent could gain 537.70% and reach $?0.0?5470 if it reaches the upper price target.

Will BitTorrent reach $0.01?

BitTorrent would need to gain 1,165,824.49% to reach $0.01. According to our BitTorrent prediction algorithm, the price of BitTorrent will not reach $0.01. The highest expected price our algorithm estimates is $?0.00003733 by 2048.

Will BitTorrent reach $0.1?

BitTorrent would need to gain 11,659,144.91% to reach $0.1. According to our BitTorrent prediction algorithm, the price of BitTorrent will not reach $0.1. The highest expected price our algorithm estimates is $?0.00003733 by 2048.

Will BitTorrent reach $1?

BitTorrent would need to gain 116,592,349.06% to reach $1. According to our BitTorrent prediction algorithm, the price of BitTorrent will not reach $1. The highest expected price our algorithm estimates is $?0.00003733 by 2048.

What is the current BitTorrent sentiment?

The current BitTorrent sentiment is bearish according to our technical analysis. The majority of technical indicators are showing sell.

What is the BitTorrent Fear & Greed Index and what does it indicate?

Currently, the BitTorrent Fear & Greed Index stands at 69, which means that investors’ sentiment is in the so-called Greed zone.

The Fear & Greed Index combines several market and investment indicators, including 30- and 90-day volatility, trading volume, social media activity, and Google Trends data. The Fear & Greed Index can be a useful measure of BitTorrent investors’ sentiment, and is based primarily on Bitcoin-related market data.

Overall, the Fear & Greed Index indicates the current sentiment of the market, as follows: 0-24 extreme fear, 25-49 fear, 50 neutral, 51-75 greed, and 76-100 extreme greed. Some traders interpret a prevalent negative sentiment as a good buying opportunity, while a prevalent positive sentiment can be a good opportunity to sell.

Is it profitable to invest in BitTorrent?

Over the last 30 days, BitTorrent had 12/30 (40%) green days. According to our historical data, it is currently not profitable to invest in BitTorrent. The price of BitTorrent increased by 114.94% in the last 1 year.

Is BitTorrent a good buy in 2024?

Based on multiple technical quantitative indicators, the current forecast for BitTorrent in 2024 is bearish. This could be an indication that BitTorrent is a bad buy in 2024. However, it’s important to consider both technical factors (price history) and fundamental factors (on-chain activity and development) before making the decision to buy BitTorrent or not.

What will the price of BitTorrent be next week?

According to our BitTorrent forecast, the price of BitTorrent will increase by 30.25% over the next week and reach $?0.0?1117 by October 31, 2024.

What will the price of BitTorrent be next month?

According to our BitTorrent forecast, the price of BitTorrent will increase by 228.47% over the next month and reach $?0.0?2816 by November 25, 2024.

What is BitTorrent's 50-Day SMA and what does it indicate?

BitTorrent’s 50-day SMA (simple moving average) is currently $?0.0?9084. The 50-day SMA indicates the average price of BitTorrent over a 50-day period. The 50-day SMA is commonly used to gauge the price trend of an asset over an intermediate period of time. A rising 50-day SMA indicates a positive BTT price trend in the medium term, while a dropping SMA indicates the opposite.

The 50-day SMA is calculated by adding together Bitcoin’s closing prices in the last 50 days, and dividing the total by 50.

What is BitTorrent's 200-Day SMA and what does it indicate?

BitTorrent’s 200-day SMA is currently $?0.0?9983. The 200-day SMA is a popular indicator that’s used to determine an asset’s long-term price trend. A rising BitTorrent 200-day SMA indicates a positive long-term trend. Meanwhile, a falling 200-day SMA shows that BTT has been trending downwards over the long term.

Many cryptocurrency traders pay close attention to the markets when the current BitTorrent price crosses an important moving average like the 200-day SMA.

The 200-day SMA is calculated by taking BitTorrent’s closing prices in the last 200 days, adding them together, and dividing the total by 200.

What is BitTorrent's 14-day RSI and what does it indicate?

BitTorrent’s 14-day RSI is at 38.12, indicating that BTT is currently neutral.

The RSI (Relative Strength Index) is a very popular technical indicator used to analyze prices of a variety of assets, including BitTorrent. Most commonly, the RSI is used on a 14-day time frame. The RSI is used to gauge momentum in the market. The readings produced by the RSI indicator range from 0 to 100, with 30 and 70 being important levels. An RSI reading under 30 indicates that the asset is currently undervalued, while an RSI reading above 70 indicates that the asset is currently overvalued.

Will BitTorrent go back up?

Based on our algorithmically generated price prediction for BitTorrent, the price of BTT is expected to decrease by 228.47% in the next month and reach $?0.0?2816 on Nov 25, 2024. Additionally, BitTorrent’s price is forecasted to gain 180.58% in the next six months and reach $?0.0?2406 on Apr 24, 2025. Finally, BitTorrent is expected to trade at $?0.0?2287 on Oct 26, 2025, following a 166.73% value decrease in one year.

How does our price prediction for BitTorrent work?

The BitTorrent price prediction on CoinCodex is calculated using the historical BitTorrent price dataset, accounting for past volatility and market movements. In addition, the algorithm uses the cyclical nature of Bitcoin halvings, which introduce extra supply-side pressure on BTC every 4 years. This has historically played a pivotal role in cryptocurrency markets and is a major component of creating a realistic BitTorrent prediction.

How to read and predict BitTorrent price movements?

BitTorrent traders use a variety of tools to try and determine the direction in which the BTT market is likely to head next. These tools can roughly be divided into indicators and chart patterns. When trying to predict the BitTorrent price, traders also try to identify important support and resistance levels, which can give an indication of when a downtrend is likely to slow down and when an uptrend is likely to stall.

BitTorrent Price Prediction Indicators

Moving averages are among the most popular BitTorrent price prediction tools. As the name suggests, a moving average provides the average closing price for BTT over a selected time frame, which is divided into a number of periods of the same length. For example, a 12-day simple moving average for BTT is a sum of BTT’s closing prices over the last 12 days which is then divided by 12.

In addition to the simple moving average (SMA), traders also use another type of moving average called the exponential moving average (EMA). The EMA gives more weight to more recent prices, and therefore reacts more quickly to recent price action.

50-day, 100-day and 200-day moving averages are among the most commonly used indicators in the crypto market to identify important resistance and support levels. If the BTT price moves above any of these averages, it is generally seen as a bullish sign for BitTorrent. Conversely, a drop below an important moving average is usually a sign of weakness in the BTT market.

Traders also like to use the RSI and Fibonacci retracement level indicators to try and ascertain the future direction of the BTT price.

How to read BitTorrent charts and predict price movements?

Most traders use candlestick charts, as they provide more information than a simple line chart. Traders can view candlesticks that represent the price action of BitTorrent with different granularity – for example, you could choose a 5-minute candlestick chart for extremely short-term price action or choose a weekly candlestick chart to identify long-terms trends. 1-hour, 4-hour and 1-day candlestick charts are among the most popular.

Let’s use a 1-hour candlestick chart as an example of how this type of price chart gives us information about opening and closing prices. The chart is divided into “candles” that give us information about BitTorrent’s price action in 1-hour chunks. Each candlestick will display BTT’s opening price, closing price, as well as the highest and lowest prices that BitTorrent reached within the 1-hour period.

It’s also important to pay attention to the color of the candle – a green candle means that the closing price was higher than the opening price, while a red candle tells us the opposite. Some charts will use hollow and filled candlestick bodies instead of colors to represent the same thing.

What affects the price of BitTorrent?

Just like with any other asset, the price action of BitTorrent is driven by supply and demand. These dynamics can be influenced by fundamental events such as block reward halvings, hard forks or new protocol updates. Regulations, adoption by companies and governments, cryptocurrency exchange hacks, and other real-world events can also affect the price of BTT. The market capitalization of BitTorrent can change significantly in a short period of time.

When trying to make a BitTorrent forecast, many traders also try to monitor the activity of BTT “whales”, which are entities and individuals that control large amounts of BTT. Since the BitTorrent market is relatively small compared to traditional markets, “whales” can single-handedly have a big influence on BitTorrent’s price movements.

Bullish and bearish price prediction patterns

Some traders try to identify candlestick patterns when making cryptocurrency price predictions to try and get an edge over the competition. Some candlestick formations are seen as likely to forecast bullish price action, while others are seen as bearish.

Here are some of the most commonly followed bullish candlestick patterns:

Here are some common bearish candlestick patterns:

  • Hammer
  • Bullish Engulfing
  • Piercing Line
  • Morning Star
  • Three White Soldiers
  • Bearish Harami
  • Dark Cloud Cover
  • Evening Star
  • Shooting Star
  • Hanging Man
DISCLAIMER: Not Investment Advice
The information provided is for general information purposes only. No information, materials, services and other content provided on this page constitute solicitation, recommendation, endorsement or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

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