Trading is fun until you have to choose one best platform for you which is one of the toughest steps. Your choices describe your trading journey. If you are confused and want to know about which is the best cryptocurrency to invest in 2022, we are here to help you. We will tell you about the best cryptocurrency options you have along with the short descriptive review of Bittorrent and if it’s a good choice to invest in.
How can you select the best cryptocurrency to invest in?
Here are few tips which you can follow before selecting and investing in the cryptocurrency:
- Do a complete assessment of technology and development behind each altcoin. This will give you an idea of where the trading business is heading in the future.
- Check the practical uses a cryptocurrency have in real trading world and how it will affect global economy.
- Check demand and supply of each cryptocurrency.
- Check the price performance of the last few years to know their overall performance in the market.
- Select the currency that is recognized by large corporations or experts in the market.
After making a decision to invest in cryptocurrency, the next step is to choose the best platform. List of exchanges offering you a platform is so big that you can get confused. So here we have shortlisted few of the best cryptocurrency exchange in 2022 according to Traders Union:
- Binance coin
What is BitTorrent and if it’s one of the best cryptocurrency to invest in?
BitTorrent, also known as BTT, is a utility token which is implemented on the TRON blockchain to power it. Many of the decentralized applications which included DLive, BitTorrent File system, BiTorrent Speed, and many others are powered by the help of this token.
This was launched in 2001 but later on bought by the TRON blockchain system in 2018. Then a year later in 2019 it launched its native BTT token.
What affects the price of BTT?
Several factors are affecting the price of BitTorrent. These includes:
It refers to the stage of cryptocurrency coins between its highs and lows. During different stages of the crypto cycle, the price of the coin keeps fluctuating. This affects the overall price and rate of the coin.
It can also impact the price of the coin. For eg: if a certain company announces that they are banning cryptocurrency, the price of the BTT coin may go down because people will worry about the coin being worthless. So they sell them even at a low rate. In the same way if a country announces that they are regulating cryptocurrency, its price will be high because there will be high demand for BTT in the market.
They have a direct impact on BTT prices. When Bitcoin price increases in the market, it will also cause the price of BTT to increase in the market. Because people will find it as a good investment and buy it even at a high price.
News causes a direct effect on the price of BTT. For eg: if BitTorent is famous and talked about in the news, people looking for news may get interested in buying it. When a lot of people start buying it will raise its price.
Trading business and cryptocurrency market is highly competitive. It can affect the price of BTT because people may choose to invest in other coins. For eg: if there is a new coin in the market which is getting famous, people might sell BTT to buy it.
Will BitTorent price increase in the future?
Many people are confused about whether the BTT price is going to increase or not. Will bittorrent reach $1? Keeping in view the current growth of BTT it will be impossible for it to reach 1$ even by the end of 2030. Because it would need a market cap of 923 trillion dollars to reach one dollar which is impossible. Also crypto exchanges are not regulated enough so they can’t handle that kind of volume. So there is no chance of BTT reaching 1$.