Today, popular decentralized file sharing and torrent platform BitTorrent (CCC:BTT-USD) has seen impressive movement. This cryptocurrency token is up more than 35% at the time of writing, mimicking movements in other key alt coins such as Ripple (CCC:XRP-USD) today. Accordingly, investors are paying close attention to BitTorrent (BTT) price predictions amid this rise.
With the price of BitTorrent now up more than 300% over the past week, it appears investors are becoming more bullish on the technical drivers of BTT right now. Additionally, investors seem to like the fact that BTT is compatible with the TRON blockchain. For more on this platform, I’d suggest readers take a look at an excellent piece by InvestorPlace Web Editor Vivian Medithi.
Today, broad-based bullish sentiment for alt coins appears to be taking hold. Investors in smaller cryptocurrencies are outperforming of late, as investors seek crypto options with higher growth potential over the long run. With Bitcoin (CCC:BTC) currently accounting for more than half of the $2 trillion total market capitalization of cryptocurrencies globally, the thesis is that there’s a lot of room to run for smaller digital tokens in the race for market share. At least, that’s what investors are hoping for.
Given these bullish drivers, let’s take a look at what analysts think about BitTorrent and BTT today.
BitTorrent (BTT) Price Predictions
- Coinpedia has pegged the 2022 price prediction for BTT at 10 cents. This would amount to an approximate 850% increase from current levels today. That said, Coinpedia’s 2021 prediction of 1 cent has already been surpassed this year, so it’s appearing much more feasible the company could hit this 2022 target sooner rather than later. Additionally, Coinpedia has pegged the 5-year target for BTT at $1, which would provide investors with returns of roughly 8,500%, if this prediction materializes.
- WalletInvestor has pegged its 1-year forecast at $0.0161, and its 5-year forecast at $0.0305.
- Digitalcoinprice has a 1-year price target of $0.0189, with a 5-year forecast of $0.0435.
These predictions provide quite the range for investors to consider today. However, given the impressive appreciation BTT has seen of late, these predictions are looking conservative.
That said, these cryptocurrency options are likely to remain highly volatile. Accordingly, investors should practice proper portfolio discipline in sizing these investments. Holding a well-diversified basket of cryptocurrencies may be better than betting too heavy on one single token.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.