Still, at least this may provide a more favorable entry point for new investors. The BitTorrent token price flew high and fell hard. As far as I can tell, it wasn’t any company-specific news.Īnd, it’s surely not a coincidence that the cryptocurrency universe’s most famous coins all rallied at around the same time.Īll it could take, in reality, is a tweet from Elon Musk or a groundswell of support on Reddit - even if it’s not directly related to the BTT token.Īs they say, a rising tide lifts all boats. However, in all likelihood, none of this will matter if there’s a broad-based cryptocurrency rally.Ĭonsider what caused the BitTorrent token price to skyrocket earlier this year. Plus, the token’s price volatility might be an additional concern. That reason, by itself, could dissuade some traders from buying BTT. Piracy concerns might, indeed, leave a bad taste in the mouths of BitTorrent’s prospective investors. Unfortunately, that opened the floodgates for piracy leading to a legitimate operating company becoming synonymous with opaque business practices.”įarooque’s point is well taken. InvestorPlace contributor Faizan Farooque concisely explains why institutional investors, central banks, hedge funds and other big-money financial individuals and entities are likely to eschew BitTorrent: “Around the early 2000s, BitTorrent became the file-sharing protocol to share content all over the world. It’s a large and important business, no doubt about it.īut being a large company isn’t necessarily the same as being reputable. Still, I’m willing to believe BitTorrent’s assertion that its platform is host to more than 100 million active users each month. However, it’s not a specific quantity, so there’s no way to prove or disprove what BitTorrent is saying here. Not only that, but the company boasts that its protocol is “responsible for moving a significant percentage of the world’s Internet traffic each day.”įrankly, I’m wary of that “significant percentage” claim.

Big Company, Questionable Reputationīased in San Francisco, BitTorrent bills itself as “the company behind the largest decentralized P2P communications protocol for distributing data and large files over the Internet.” So, is this a problem or an opportunity? If you’ve been sitting on the sidelines or are just learning about the BitTorrent token now, you may have a chance to start a position at a reduced price point.Īnd if you bought during the hype phase, then you might choose to hold on and wait for a recovery - which could take a while, I’ll admit.

As of June 8, the BTT price was hovering near four-tenths of a cent. The price collapse that followed was harrowing, to say the least. Still, I can understand why some traders might be discouraged - especially if they bought near the April 3 top, when the BitTorrent token edged above 1 cent. Moreover, apparently those analysts are expecting “an increase in its price each year until at least 2028.” Hence, the bulls shouldn’t give up hope just yet. Of course, the story of 2021 is only halfway written and the one-cent dream may just be deferred, not dashed.Īccording to InvestorPlace contributor Muslim Farooque, “Analysts on Digitalcoin believe that BTT will be worth about 1 cent this year.” They succeeded in early April, but only briefly. Breaking through the one-penny barrier appears to be a major goal of the BitTorrent bulls.

Bittorrent coin where to buy