$ 29,795.00 1.74%
$ 1,970.17 0.98%
$ 48.82 0.73%
$ 0.083788 0.64%
$ 7.44 1.79%
$ 1.39 1.61%
$ 0.000187 19.51%

BitTorrent Price analysis 1 July 2019; BTT 10% surge after Justin Sun tweet

bittorrent token to be released soon

The cryptocurrency market has been dipping significantly over the course of the last couple of days as BTC starts to enter its correction phase.

Naturally, all of the major altcoins are in hot pursuit of BTC, except for one, the BTT, which seems to react more to Justin Sun’s tweets rather than the market sentiment.

Right now the BTT price is in an uptick of 10% thanks to Justin Sun’s bullish tweet of integrating the BitTorrent File System with the Testnet on July 1st.

BTT price chart

BTT chart by Trading View

At the moment of writing this article, it seems like the BTT has started to correct. The coin has fallen from $0.0015 to $0.0014, several hours after the announcement.

However, the traders are starting to form yet another bullish move towards the resistance level that now lies on the previous high of $0.0015.

As long as the BTT support level of $0.0013 is maintained it’s unlikely for the BTT to fall lower.

When it comes to long term predictions, the BTT is not guaranteed to ride the Altcoin season wave as everybody’s attention will be fixated on Litecoin and Ethereum due to bullish predictions for the future.

As soon as BTC corrects itself after dipping below the $10,000 resistance level, it’s expected for the bulls to enter the market once again and drive it to $18,000. At that moment BTC will have complete market dominance and BTT will definitely be left behind.

Therefore, BTT predictions for the future are quite bullish as the coin does not have much to build upon unless Justin Sun comes out with yet another bullish announcement in order to drive the prices higher before the altcoin season.

Giorgi Mikhelidze

Giorgi Mikhelidze

Georgian-born blockchain enthusiast Giorgi leverages his software development background for on point market commentary and analysis. A brief stint with Finance Makers and he's now covering crypto news for high authority websites with the tip learned from past experience, "Whenever you see people talking about the weakness of your idea, don't see it as criticism."

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