Feb 23, 2022 10:55
Back then in 2000, a new product came out where you could literally share and download files on a peer-to-peer basis without the hassle of a third party termed bittorrent. However over a period of time as users swarmed the ecosystem, the downloading became sluggish and most of the contents weren’t available on the BTT ecosystem.
To help resolve this issue and incentivize more than 150 million active BTT users, in 2019 the Tron Foundation acquired BitTorrent and released a new peer-to-peer blockchain-powered file-sharing ecosystem known by the same name BitTorrent however with an upside propelled by the BTT token cryptocurrency.
Under the BTT crypto ecosystem, the server distribution is shared, which significantly improves downloading speed and incentivization scheme to not delete any file allows longer files and content available within the BTT ecosystem.
How BTT Crypto Works?
The BTT ecosystem breaks a single file into various fragments and stores the same on multiple servers. Here servers mean users who are actively dedicating their storage space to the BTT ecosystem. Whenever a user queries a file, that file will be sourced from different network/nodes storing a part of the file. To initiate the process, the user who is querying about the file must pay the file sharer in BTT tokens.
Why is BitTorrent fast?
High speed is a challenge and that can happen only when instead of one server/user sharing the file, the entire ecosystem participates. To make such a possibility happen, the BTT ecosystem rewards every user within the ecosystem who remains active on the ecosystem with respect to file download and sharing. Thus making the ecosystem sustainable and battle-tested from a speed and uptime perspective.
There’s another upside on the BTT ecosystem where users can participate in other people’s distribution and earn rewards. This will be facilitated by a distribution channel that has not enough space and wants to share space with other users. For this service, the users who will be sharing the space get BTT tokens in return.
Bittorent Price Prediction for 2022
A 500% return in 2021 would make investors piqued to any token, BTT did deliver the same in 2021. It shot to fame on April 05, 2021 trading at $0.0142; however, the question to raise would be whether BTT would be worth $0.007 by 2022. Let’s find out;
Looking at the market, despite a lot of pessimism around crypto and the bear market in full swing, we do see BTT crypto defending its market position. For example, if you look at the chart, the BTT price movements as per the Keltner channel signal an upside in formation.
Fig.1 BTT/USD 1-day chart showing BTT Price Movements
As you can see, the bottom curve has already touched the last candlestick in the 1-day chart. This denotes that the downtrend is all about to get over and an upside will soon follow or the return of bullish momentum is imminent.
The MA or moving averages of 50 Day and 100 Day show that the curves are well over the last candlestick signifying that bullish momentum would return
Pic 2. MACD
The positive momentum could push prices well above their current ATH of $0.01426 in 2021. However, there’s resistance visible at the R4 level at 0.00498440. If the crypto market goes back towards a bullish trend, we could see an upside as high as the previous ATH by 2022 end.
Pic 3. Resistance points
? Buy BitTorrent Token ?
Where To Buy Bittorrent?
How to Buy Bittorrent on Binance?
We are assuming that you have USDT in your account. You can swap the same to BitTorrent crypto.
Step 1
Login to Binance.com
Image 1. Step by Step Guide
Step 2
Input your email ID and password.
Image 2. Step by Step Guide
Step 3
Click on trade and convert.
Image 3 Step by step guide
Step 4
Pick the amount of USDT, here I have picked $20 for a demo; though I do not intend to buy the token so I have not finalized the same. But once you do, it will reflect on your spot wallet.
Image 4 Step-by-Step Guide
You can keep your portfolio on the exchange wallet or you can keep it in your hardware wallet. You are free to choose any option, but storing all your cryptos in a hardware wallet keeps you safe from hacks and misuse.
BitTorrent
© Cryptoticker
The post BitTorrent Crypto BTT Stands Resilient Despite Bear Market in 2022? appeared first on CryptoTicker.
World Crypto Global
