❇️BitTorrent recently soars 100% to new all-time high, $5B market cap: What's behind the rally?
The rally took the valuation of BTT to over $5.2 billion, making it the 24th-most-valuable cryptocurrency by market capitalization. What's more impressive, the token's value has increased more than tenfold in the past two months
Whereas There has been no clear fundamental catalyst behind the BTT rally to date:
👉but BitTorrent has been pushing the narrative of Sun buying high-profile NFTs as of late.
On March 29, BitTorrent tweeted:
"Justin Sun announced the official establishment of the #JUST NFT Fund and the Plan to hire a top tier artist as the chief NFT advisor of JUST #NFT Fund. Join us now in the marvelous adventure navigated by JUST #NFT!"
Also NFTS products need storage space and Bitorrent as one of those specefic like storj and filcoin etc. can host them.
👉On March 25, crypto exchange Poloniex — which, as Cointelegraph reported, was acquired by a consortium of
buyers that included Sun — announced BTT staking.
#Staking on #Poloniex gives you a simplified way to earn rewards by depositing and holding assets in your account!
Earn staking rewards for:$ATOM $BTT $TRX $WIN
👉Social media sentiment spikes
Finally, the daily sentiment score versus the tweet volume for BTT surged by more 377% beginning March 30, right before the price of BTT began to rally.
refrences: coinmarketcap- coinstelgraph
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✅TECHNICAL ANALYSIS
As you can see in the weekly time frame chart for BTT /USDT, the price is trading at around $ 0.0052 .
bittorrent have grown a lot so far and are waiting for retracment but it may grow a little more.
But due to the crazy aggresive movements of btt , there is a high risk/reward, so I personally do not suggest entering, but if corrected, you can enter with the appropriate stop-loss.
(Anyway, my constant suggestion to my dear community is to buy step by step (or in a few steps) , With proper capital and risk management and by setting stop-loss , To reduce their risk, Because this crazy market also depends on the odds and there is no certainty.)
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👉This analysis is my personal opinion and you are responsible for your own trades or invests.
❤️with Best Regards and successful trades
👍plz hit that damn like button if you agree
The rally took the valuation of BTT to over $5.2 billion, making it the 24th-most-valuable cryptocurrency by market capitalization. What's more impressive, the token's value has increased more than tenfold in the past two months
Whereas There has been no clear fundamental catalyst behind the BTT rally to date:
👉but BitTorrent has been pushing the narrative of Sun buying high-profile NFTs as of late.
On March 29, BitTorrent tweeted:
"Justin Sun announced the official establishment of the #JUST NFT Fund and the Plan to hire a top tier artist as the chief NFT advisor of JUST #NFT Fund. Join us now in the marvelous adventure navigated by JUST #NFT!"
Also NFTS products need storage space and Bitorrent as one of those specefic like storj and filcoin etc. can host them.
👉On March 25, crypto exchange Poloniex — which, as Cointelegraph reported, was acquired by a consortium of
buyers that included Sun — announced BTT staking.
#Staking on #Poloniex gives you a simplified way to earn rewards by depositing and holding assets in your account!
Earn staking rewards for:$ATOM $BTT $TRX $WIN
👉Social media sentiment spikes
Finally, the daily sentiment score versus the tweet volume for BTT surged by more 377% beginning March 30, right before the price of BTT began to rally.
refrences: coinmarketcap- coinstelgraph
-------------------------------------------------------------------------------------------------------------------
✅TECHNICAL ANALYSIS
As you can see in the weekly time frame chart for BTT /USDT, the price is trading at around $ 0.0052 .
bittorrent have grown a lot so far and are waiting for retracment but it may grow a little more.
But due to the crazy aggresive movements of btt , there is a high risk/reward, so I personally do not suggest entering, but if corrected, you can enter with the appropriate stop-loss.
(Anyway, my constant suggestion to my dear community is to buy step by step (or in a few steps) , With proper capital and risk management and by setting stop-loss , To reduce their risk, Because this crazy market also depends on the odds and there is no certainty.)
--------------------------------------------------------------------------------------------------------------------
👉This analysis is my personal opinion and you are responsible for your own trades or invests.
❤️with Best Regards and successful trades
👍plz hit that damn like button if you agree
