Lbry credits price prediction: What is lbry credits (LBC)?
The long-standing LBC coin, the native token of the LBRY Credit blockchain, has hit the headlines recently after its parent company, LBRY Inc was ruled to have offered its digital assets as securities.
The ruling of 7 November 2022 – which could well have a knock on effect on the world of cryptocurrency regulation because the US Securities & Exchange Commission (SEC) is gearing up for the result of its court case against XRP founder Ripple – gave the LBC crypto some unwanted notoriety after years of relative obscurity.
That said, what is lbry credits (LBC)? Let’s take a look and see what we can find out, and also cast our eyes over some of the lbry credits price predictions that were being made as of 8 November 2022.
Lbry credits explained
In the world of cryptocurrency, bitcoin (BTC) is king. It was pretty much the original crypto and has dominated the market so much that, for many people, cryptocurrency, the blockchain and bitcoin are interchangeable.
BTC/USD price chart
BTC effectively democratised finance and it was this that spurred on other cryptocurrencies. In theory, people did not have to rely on rulings by central banks and other financial institutions. Instead, they had (or at least were supposed to have) control over their money with its values decided purely by the market.
If bitcoin and the blockchain could do that for money then, in theory, there was the opportunity for other projects to do the same thing for another sector.
LBRY Inc and the LBRY Credit platform claim to do “to publishing what bitcoin did to money”.
The idea at its core is pretty straightforward. Since so much art of all kinds is now digitised, there is what could be described as a post-scarcity scenario. This means that any digitised piece of art can theoretially be replicated instantly and freely.
The LBRY system aims to allow creators to take control of the art they produce with a marketplace that, according to the platform, is “controlled by the market's participants rather than a corporation or other third-party.
This will be done by giving each artwork a unique name, much like a website, allowing people to interact with it on the LBRY Credit blockchain.
Every blockchain needs its own native token, and LBRY Credit has the lbry credits coin, also known by its ticker handle of LBC. This crypto is used to help pay for access to artwork and is also used to reward creators. The coin can be bought, sold, and traded on exchanges.
LBRY was founded in 2015 by a team led by entrepreneur Jeremy Kauffman, who still serves as the organisation’s CEO, and LBC came onto the open market in 2016.
What is your sentiment on BTC/USD?
Lbry credits price history
LBC price history from launch to present – Credit: Capital.comLet’s now cast our eyes over the LBC price history. While past performance should never be taken as an indicator of future results, knowing what the coin has done in the past can give us some useful context if we want to either make a lbry credits price prediction of our own or interpret one that is already out there.
LBC first came onto the open market in the summer of 2016 and soon garnered a lot of interest, with the price shooting to an all-time high of $2.50 on 14 July that year. Following that, the price sank and spent much of the next year or so around the $0.10 mark.
There was a spike in June 2017 to around $0.80 and, although there was another drop, things picked up again during the crypto bubble of late 2017 and early 2018, with LBC breaking past the dollar for a spell in January 2018.
After that, things fell back down as the market entered a crypto winter, with the nadir coming in the form of an all-time low of $0.00511 on 16 March 2020 as the world braced itself for Covid-19 pandemic lockdowns.
In early 2021, the crypto market blossomed and LBC made something of a recovery, topping $0.30 in April. After that, though, it was downhill again, and it closed the year at $0.03668.
The first few months of 2022 saw the coin operate comparatively well in a weakened market. Although it never quite hit the heights of 3 January, when it was worth $0.03806, it was able to hold its own against a somewhat hostile crypto market, and it was worth more than $0.035 as late as 6 April.
After that, there was a downturn that turned into a collapse as a series of market crashes saw it fall to a low of $0.009382 on 18 June.
There was then a recovery to $0.02812 on 17 September, and the coin was able to trade at a high of $0.02015 on 7 November before the court’s ruling saw the price take a hit.
At the time of of writing on 8 November 2022, LBC was trading at about $0.014. At that time, there were 654,237,214.88 LBC in circulation out of a total supply of 767,800,721. This gave it a market cap of around $9m, making it the 764th largest crypto by that metric.
Lbry credits price prediction round-up
With that all said and done, let’s now take a look at some of the lbry credits price predictions that were being made as of 8 November 2022. It is important to note at this stage that price forecasts, especially when it comes to a commodity as potentially volatile as cryptocurrency, very often turn out to be wrong. Also, you should remember that long-term crypto price predictions are often made using an algorithm, which means that they can change at a moment’s notice.
At the time of of writing, CoinCodex had a short-term LBC price prediction that said the coin could have traded at $0.014585 on 13 November before it could have dropped to $0.013808 by 9 December. Fittingly, the site’s technical analysis pointed towards a bearish future, with 24 indicators sending pessimistic signals as opposed to just four making bullish ones.
Next, CryptoPredictions.com made an LBC crypto price prediction that said that the coin could have closed 2022 at $0.0266. By November 2023, the site said the crypto could have been worth $0.03631, before it could have climbed to $0.0445 a year later. At the time of of writing, the site’s lbry credits price prediction for 2025 outlined that LBC could have started the year at $0.0457, reached $0.0512 in November and closed the year at around $0.05173. By 2026, LBC could have achieved $0.05079 by November that year and $0.0512 the following month.
Meanwhile, DigitalCoinPrice had an LBC coin price prediction that said the crypto could have reached $0.0156 this year, $0.0238 next year and $0.031 the year after that. By 2025, the site said that LBC could have traded at $0.0377, before it could have gone on to $0.0402 in 2026 and $0.0454 in 2027. By 2028, the forecaster argued that lbry credits could have traded at $0.0533 that year and could have closed the decade at $0.0643. The site’s lbry credits price prediction for 2030, at the time of of writing, suggested it could have achieved $0.0794 that year and could have reached $0.0985 in 2031.
Finally, WalletInvestor was pretty upbeat when it came to making a lbry credits price prediction for 2023. The site said that the coin could have been valued at $0.0186 by November 2023. However, there was some relatively bad news going forward, as the forecast suggested it could drop down from that level to trade at $0.0155 in five years’ time.
When considering an LBC coin price prediction, it’s important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.
If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns. And never trade with money that you cannot afford to lose.
FAQs
Is lbry credits a good investment?
It is difficult to tell. The coin’s price has dropped significantly in the wake of the recent court ruling, so it remains to be seen if and how it can recover. A lot will also depend on how the crypto market behaves as a whole.
Remember, you should always carry out your own thorough research before making an investment about whether or not a particular coin or token is right for you. Even high market cap cryptocurrencies can be affected by bear markets. Investors should be prepared to make losses rather than just profits, and they should never purchase more than they can afford to lose.
Will lbry credits go up or down?
It is hard to say. While the likes of CryptoPredictions.com are very optimistic about the coin’s chances, sites like CoinCodex take a more bearish view while WalletInvestor is somewhere in the middle. Keep in mind that price predictions very often turn out to be wrong, and that prices can, and do, go down as well as up.
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether LBC is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. And never invest money that you cannot afford to lose.
Should I invest in lbry credits?
Before you invest in LBC, you should carry out your own research, not only on the lbry credits coin, but on other content-related coins and tokens.
Ultimately, though, this is a question that you will have to answer for yourself. Before you do so, however, you will need to conduct your own research and never invest more money than you can afford to lose because prices can go down as well as up.
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