Categories: Altcoins

BitTorrent Token Price Shows Bullish Signs as Other Markets Struggle

Click here to view original web page at themerkle.com

As became apparent yesterday morning and early afternoon, the bearish pressure has regained its grip on virtually all cryptocurrency markets. That is not the biggest surprise by any means, although it is also a bit problematic. For the time being, most markets contain their losses, although the BitTorrent Token price is rising up like a phoenix. A surprising turn of events for this plagued market.

BitTorrent Token Price Moves up Swiftly

When all of the top markets start to buckle under the bearish pressure, some smaller-cap altcoins will begin shooting up like a rocket. Today is no exception in this regard, although it seems the BitTorrent Token market is not necessarily that “small” these days. With its current market cap of $142.5m, it sits comfortably within the market cap top 50. Pushing through to a more “elite tier’ will be very difficult, even under the best of circumstances.

Over the past 24 hours, the BitTorrent Token price has risen by 10.3% in USD value. This pushes its value back to $0.000836. In BTT/BTC and BTT/TRx, there is an 11.3% and 12.1% uptrend respectively. It is odd to see this project note such gains in quick succession, primarily because the price has gotten hammered for quite some time now. Combined with its $81m in trading volume, it appears BTT is in a good place, for the time being.

It is evident the current market trend has taken a lot of people by surprise first and foremost. On social media, CryptoRonny expects big things from BTT now that a “major resistance level” at $0.000833 has been broken. There is still a long way to go, as this may be a temporary uptrend first and foremost. It will be an interesting day for BitTorrent Token, although no one should expect any miracles from this market.

Falling wedge breakout! Need close candle here and breakout big resistance 8330 sats! #BTT $BTT pic.twitter.com/xSxoKmO6zD

— CryptoRonny (@CryptoRonny5) March 17, 2019

A similar sentiment is echoed by Mocho17, who sees this as a clear sign BTT has broken out of the range in a bullish manner. Although there is a good reason to be excited about this development, it can also backfire quite easily. Nothing is ever set in stone in the cryptocurrency industry, as these markets will always remain volatile first and foremost. BTT Will not be an exception in this regard.

$btt #btt update 1
broke out the range now let see how it goes pic.twitter.com/gkqq5M7ehj

— mocho17™® (@cryptomocho) March 17, 2019

While there is plenty of room for cautious optimism at this point, Linda Lagstad is not necessarily convinced this uptrend will remain in place. Although it is good to see a breakout for BTT, this currency has seen its ups and downs over the past few weeks. As such, there is a good chance this uptrend will be turned into a bearish trend fairly soon, assuming history will repeat itself once again.

#BTT is up to something.. looks good on #PAS on short timeframes now and I guess its time to pull up that chart

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

Bitcoin Price Fumbles Under $10,000 as Traders Fear $8K Target

Bitcoin price is trading below $10,000 and a further pullback could drive price even lower. | Source: Shutterstock By CCN… Read More

3 hours ago

Mark Carney’s Dollar-Killer Digital Currency Threatens Bitcoin

Mark Carney, governor of the Bank of England (BOE), has a plan to challenge the dollar's dominance. | Source: Photo… Read More

3 hours ago

Crypto Funds Are Outperforming – You Shouldn’t Be Surprised

Josh Gnaizda is the founder of Crypto Fund Research . It’s one of the worst-kept secrets in the alternative investment… Read More

3 hours ago

FTC Settles With Promoters of Multi-Level Marketing Crypto Scheme

The U.S. Federal Trade Commission (FTC), has settled charges it filed last year against four promoters of crypto-denominated multi-level marketing… Read More

3 hours ago

Ethereum moves closer to Istanbul hard fork as Geth and Pantheon merge all improvement protocols

While Ethereum is on its way to shifting from Proof-of-Work to Proof-of-Stake, the developer community is currently engaged with the… Read More

3 hours ago

Binance Research: Too early to rule out Ethereum blockchain competitors

Binance Research, the market research and analysis arm of Binance, has published a report on tokenization and the key factors… Read More

3 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More