After the success of Bitcoin, many other cryptocurrencies started to take their shine over the horizon, and BitTorrent is one of those altcoins that came into being even after the registered success of various altcoins that came into the rotation after Bitcoin. This is a crypto coin that is being put forward and regulated by the BitTorrent network, which is a peer-to-peer file-sharing protocol and goes by the same name as the coin itself. The BTT coin has surged about 30% in the last 24 hours or so, and this sudden rise has compelled the market cap of this new altcoin to stand at around $5.2 billion. Not only this, but these latest sets of events have made this currency about 24th most valuable cryptocurrency in terms of market capitalization, which is pretty huge.
However, the most impressive thing is that the overall importance and market value of the coin have only increased in the past two months, which is nothing less of an achievement on its own.
Is this Turn of Events Natural?
It can be said without any doubt that there hasn’t been any sort of catalyst or any such accelerator behind this sudden price surge in the case of the BTT, while the same can’t be said about Bitcoin and various other altcoins that rise and fall by the tweets posted by the financial influencers out there such as Elon Musk. As promising and unsettling as this notion is, there hasn’t been any such development tied with the BTT coin. In mid-march, the BTT coin did surge about 120% in the demonstration of the strong technical momentum.
After that, the price of the BTT kept on rolling towards a steady increase until only it did manage to surpass its own all-time high, which is nothing less than great for such an altcoin to have started with no initial push from a financial investor but getting this push on its own. The future seems bright for not only BTT coin but other altcoins also, but it seems that all the other altcoins are tangled with the fate of Bitcoin one way or the other, it all might feel like a giant spider nest which is being pulled back and forth and so all the crypto dances with Bitcoin being right there at the center.