ICO news – Why did BitTorrent ICO buck the trend?

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In the past year, most of the investors and traders have moved away from ICO’s. Many think that they are too risky to warrant any investment. Authorities and governments all over the globe are coming down hard on ICO’s. That is why, even if the ICO’s are being launched, there is not much more fanfare. Moreover, the price movement of most of the ICOs is lackluster as well. The lackluster price movement along with the rules and regulations are moving investors away from the ICO market. However, the BitTorrent ICO did buck the trend.

Why did BitTorrent ICO buck the trend?

There are quite a few reasons why BitTorrent ICO managed to buck the trend. We will go into some of these details below.

1. Strong management:

You need to understand that Justin Sun is behind the BitTorrent ICO. BitTorrent was acquired by Tron (TRX) in the year 2018. Since then, it was expected that BitTorrent might launch its token. Finally, in January 2019, that did happen. That is why the management behind BitTorrent is pretty active. Every decision is made by Justin Sun. As a result, many of the investors and traders believe in BitTorrent ICO. This is one of the primary reasons why it was such a huge success.

2. Already decentralized:

Most of the cryptocurrencies, as well as blockchains, are moving towards decentralization. When you look at BitTorrent, it is a P2P filesharing software. That is why it is already decentralized. As a result, the development which is needed is on the lower side.

3. Proper business model:

According to Justin Sun, the plotters, the leaders, as well as the uploaders, will deal in the token issued through this ICO. The number of users is already in millions. That is why there is already a ready-made market for the BitTorrent (BTT) token. When there is already such a large market, it is bound to be a huge success. Hence, when you look at the price moment of BitTorrent (BTT) token in the 1st week itself, it is increasing significantly. In the first seven days, it is up by ten times. It clearly indicates that more and more users are investing in the BitTorrent (BTT) token. Hence, the ICO has been such a huge success.

Thus, most of the negative points in most of the other ICOs are negated in this one. The management is pretty strong, and there is a proper business model as well. Owing to all of these reasons, BitTorrent ICO has been able to buck the trend.

About Riddhi 224 Articles
I am an electronics engineer and follow the crypto space closely.

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