BitTorrent chart indicates a golden cross on the chart
The last time a simmilar cross appeared, the price of BTT exploded over 3,900%
Slower-than expected pace raised demans for Justin Sun to start burning BTT
YEREVAN (CoinChapter.com) — In a piece of exciting news to proponents of BitTorrent (BTT), another golden cross has appeared on the trading charts. The appearance of the golden cross is an indication of a possible bull run soon. But will it justify expectations?
BTT has performed considerably well in the past month. Since July 24, it has maintained an impressive greet graph, registering a positive rise on the charts.
A month ago, BTT was trading at $0.002293. It is currently trading at $0.004402. In the past 24 hours alone, its trading volume is up by 32.72% while writing.
The above BTTUSDT chart shows an EMA 50 in Blue colour and EMA 200 in Turquoise colour. On August 13, the fast EMA 50 crossed the slow EMA 200 from down to up, forming a moving average crossover. Since the 50 EMA crosses 200 EMA to the upward, it has formed a golden cross on the chart.
The bulls generally take this as a sign that the prices will rise, prompting them to rally behind the asset.
The last time this happened was at the start of 2021 when BTT registered a massive run. The price of the token rose by over 3,900%.
It is therefore not far-fetched to think that BTT has the potential to capitalise on the golden cross once again.
BitTorrent started a peer-to-peer (P2P) file-sharing protocol back in 2004. Mostly used to download movies and video files, the platform gained immense popularity before the crypto industry came by.
In 2018, Justin Sun, the founder of Tron Foundation acquired BitTorrent. It is said that the Chinese billionaire paid over $140 million for the company.
The buy-off ushered in a new era for BitTorrent as Sun established the BTT-USD as the native currency for the network.
In 2020, BitTorrent crossed 2 billion installations of its popular torrent client software on Windows, Mac and Android.
BitTorrent currently boasts over 100 million active monthly users. The network’s list of illustrious clients includes social-media giants Facebook and Twitter as well as Wikipedia.
With expectations to reap huge benefits, Tron’s acquisition of BitTorrent is proving to be a great investment for Justin Sun.
Yerevan-based Editor and writer focusing on topics about cryptocurrencies, NFTs, politics, and international relations. Having completed his Bachelor's and Master's degrees from Delhi's Jawaharlal Nehru University, he currently works as a reporter at CoinChapter.
Contact: [email protected]
LAGOS (CoinChapter.com) — Harmony Protocol, an “Effective Proof-of-Stake” blockchain network, has suffered a security breach resulting in the loss of...
Indian Finance Minister Nirmala Sitharaman has flagged anonymity as an "inherent risk" in the use of blockchain technology &...
Our Partners
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
Cookie
Duration
Description
cookielawinfo-checbox-analytics
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checbox-functional
11 months
The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checbox-others
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-necessary
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-performance
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy
11 months
The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.