Our BitTorrent price prediction is still bearish as the price has failed to break out of the downtrend once again. BTTC crypto has been in a severe downtrend since the redenomination of the BitTorrent token in January 2022. The cryptocurrency is currently 76.9% down from its January high and now trading at $0.00000080.
BitTorrent chain is also live now and is being marketed as the first-ever heterogeneous blockchain. BTTC blockchain is an EVM-compatible network and allows the one-click migration of smart contracts. The network can currently settle up to 7000 TPS with a confirmation time of only 3s. It enables seamless interoperability between Ethereum/Tron and BSC blockchains.
According to official BitTorrent news, the network is now supported on the Gate.io exchange. The top oracle Band protocol has also been launched on the new chain. In other news, BTFS active super miners have now exceeded 1.63 million.
Since the redenomination, the supply of BitTorrent crypto has increased by a factor of 1:1000. The total supply is now capped at 990 trillion coins. Currently, there are 932 trillion coins in circulation.
BitTorrent Price Prediction
Technical analysis of the BitTorrent price chart shows that the ongoing slump has sent the coin into a downward spiral without any significant relief rally. BTTC price dipped to the lows of $0.00000069 as Bitcoin price tagged $17.6K level, last week. The price bounced and went above $0.00000105 at one point but lost momentum. Consequently, the price is back in the downtrend after the failed breakout attempt.
If BTTC breaks out of the downwards trendline, then $0.000000133 could become a valid BitTorrent price prediction in the near term. However, this would only be possible if the Bitcoin price breaks above $22,000. Any lower lows than $0.00000069 would invalidate our BTTC price prediction. At the time of writing, Bitcoin price has slid below $20,000 once again after days of sideways price action. If BTC price gains acceptance below this key psychological level then most altcoins are likely to make fresh lows.