Depending on how one wants to look at things, there is either a bull market in effect or a temporary uptrend waiting to correct itself. Nothing is ever set in stone in this odd industry. Despite some promising markets moving up all around it, the BitTorrent Token price simply isn’t budging. A peculiar trend, although it is part of the expected multi-month bear market which keeps eroding all buy support.
BitTorrent Token Price is in Trouble
Despite all of the fanfare associated with the initial sale and trading of BitTorrent Token, it is safe to say the project has not evolved as expected. The lack of technical use cases for this token makes it a speculative offering first and foremost. This is also reflected in the price department, as the USD value remains flat, whereas its TRX and BTC value continues to plummet day by day. Slowly but surely, this token’s buy support is being eroded, and there is no real improvement in sight.
Over the past 24 hours, the BitTorrent Token price gained 1.29% to push the value to $0.000803. Not exactly an improvement compared to several weeks ago, even though all of the alternative markets are showing plenty of bullish USD momentum. What is worrisome is how BTT has now dropped to 16 Satoshi or 0.02917 TRX. Neither level will please holders all that much, as there is little to no buy support if BTT drops below 14 Satoshi.
Social media is never a good place to find any financial trading advice. That doesn’t prevent individuals from trying to do so regardless, though. Rsconversions would like people to stop investing in BTT because it is a “rubbish coin”. There is an argument to be made there, although it seems unlikely anyone will follow this advice blindly. It certainly is one of the more disappointing markets at this time, but “rubbish” seems a bit of a stretch.
You need to stop buying #btt rubbish coin
— rsconversions (@rsconversions1) April 3, 2019
There is also some growing dismay regarding Justin Sun and the unkept promises regarding BitTorrent Token. Despite announcing a product launch of Q1 2019, that deadline has now passed without much of an update. As such, it seems normal this market will continue this downward trend for quite some to come, unless something changes to make this token more appealing to the masses. For now, the status quo will undoubtedly remain in place, albeit that is not necessarily a good thing.
— hnz radoine (@hnz15) April 3, 2019
For those merely interested in the price chart, the opinions are a bit all over the place. Crypto Expert still expects a breakout, even though there are absolutely no signs or indicators that will happen whatsoever. Even if Bitcoin were to remain bullish, it seems rather unlikely anything big will happen for BitTorrent Token because of this trend. BTT Simply is not pulling its weight at this time.
— Crypto Expert™ (@asegpi) April 3, 2019
When looking at the bigger picture, the term “underperforming” comes to mind when looking at the BitTorrent Token trend. While there is no reason to note any real gains either, it quickly becomes evident things will not necessarily improve in the near future either. For early investors and bag holders, that is not the development they have been looking for by any means. For now, the momentum will need to be endured first and foremost, but there is little reason to expect any real improvements moving forward.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.