BitTorrent Token has been having a tough month, attributed to the recent tumble in crypto prices. However, the token has been mimicking how bitcoin has been performing. Because of this, it has spiked in recent days as a response to bitcoin’s rise to $33K.
At the time of writing, BTT is trading at $0.00251 after a 4.4% gain in 24 hours.
BTT Price Analysis
The price of BTT has managed to go above critical support levels of $0.001, which means that the token could be on the verge of an increase towards the upper side. BitTorrent Token’s recent price could spike up buying support for the token and hence boost its value.
BTT is one of the best performing cryptocurrencies this year. However, the cryptocurrency needs to recover its uptrend of 2021 and to do this, it needs to maintain a constant increase past its current price. This year alone, the token has garnered over 700%, and a disruption to its growth coincided with the May market turmoil.
Currently, the main factor that will cause BTT’s tumble to the $0.001 levels is only if the crypto market breaks down.
On the upside, if BTT claims its support past $0.0030, it will reduce the pressure of selling and hence its price can stabilize. However, a bullish signal will not be established until the token manages to reach $0.00465. This is also possible if the token manages to garner necessary support from the entire crypto market.
BTT is one of the smallest altcoins, but this has not prevented it from becoming one of the most popular tokens. It is because of this popularity that it has been listed on major exchanges in the world.
This year, crypto investors have witnessed a surge in the prices of small tokens such as dogecoin, whose holders became millionaires after prices increased to over $0.70. With the crypto market expected to grow, those holding small amounts of tokens such as BTT might witness a surge if they hold for the long term.
Where to buy BTT
If you want to buy BTT tokens, the best place to do so would be at any of these exchanges:
eToro
One of the exchanges where you can purchase BTT is eToro. The exchange allows users to maximize their chances of making profits through copy trading what seasoned traders are doing. Besides, it also offers competitive trading fees.
Binance
One of the leading exchanges that support BTT is Binance. Binance comes with many features that traders can choose from to make their trading experience better. The exchange’s trading fees are also some of the lowest.
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