Launched by BitTorrent, one of the oldest and most popular P2P file sharing networks, BTT is a token on the TRON blockchain that’s mainly used to fuel various decentralized applications. While it really is an interesting project in the file-sharing niche, the majority of investors are more focused on how high the BTT price may climb in the future. In this article, we provide a brief overview of all the key aspects that affect its value to find out whether the token may be worth as much as $1 in the coming years.
What is BTT
In 2018, BitTorrent was bought by the Tron Foundation which develops the TRON blockchain. While it was widely known as a tool for content piracy, the service switched to dApps under new management, and the BTT token was introduced to power these applications. BTT is a TRC-20 utility token used for transactions between users of file-sharing networks. As a downloader, you can send some amount of BTT to an uploader to enjoy faster download speed for a while.
Once you have finished downloading a file, you can start earning BTT by seeding. This mechanism is currently implemented in BitTorrent and µTorrent. Your BTT tokens are stored in the built-in wallet, but you can send them to another wallet or sell them on a crypto exchange. While some experts criticize the project for supporting piracy, it actually looks very promising in the long term. That’s why so many traders want to know: will BTT reach $1 in the future?
What affects the price
To make any forecasts, you need to understand what supports the value of BTT. First of all, we seem to be in the middle of a prolonged bear market, so the token will probably grow only when the market recovers. Look for any related news: any new regulations may lower the price while new applications or tech advances of the project are a good sign. BTT seems to be especially vulnerable to a possible tightening of the piracy laws, but the overall risks of the crypto industry are there as well.
Will BTT grow
While BTT was worth more than $0.0135 at its all-time high, now the BTT price is somewhere around $0.00000087. However, there are experts who believe that it can substantially grow in the next two to five years. For example, Coin Price Forecast claims that BTT may cost $0.0000037 by 2030 resulting in a rise of 281%. But it seems that the token is very unlikely to hit $1 in the coming years.
Check out other analysts like Anton Kharitonov. His Twitter account publishes financial forecasts every day.