MovieBloc (MBL) coin price prediction: penny crypto to reach $0.1
Blockchain technologies have impacted on many industries, including now the film production and distribution sector. MovieBloc is a market leader. Together with its native token, MBL, the platform has been gaining ground throughout 2021.
MBL saw an impressive spike during March this year, recording a 7-day change of 349.1% on 19th March, increasing the price to $0.021. MovieBlock continued its rally and hit an all-time high of $0.04 on 2 April 2021. Nevertheless, the MBL coin price has since fallen to $0.008 at the time of writing (10 June 2021).
MBL is planning international adoption, sealing partnerships in Korea, where the MBL project was born, and with Origine Films, a well-established film production company based in France.
This article discusses MBL coin price prediction, fundamental analysis, technical analysis, analysts’ forecasts, news and other relevant issues.
What is MovieBloc (MBL)?
MBL is the MovieBloc platform's native cryptocurrency. This blockchain-based platform is a film and content distributor launched in May 2019 to bring transparency and decentralisation to the film industry.
According to MovieBloc's official white paper, the platform attempts to tackle oligopoly and vertical integration, both of which favour large corporations in the global film business.
In their paper, they state that too often large enterprises dominate film production and distribution channels. It's complex for small or new players to become part of the bigger picture and gain exposure. This impacts on viewer choice, limiting their access to a more diverse array of content.
MovieBloc seeks to bring transparency for transactions through smart contracts.
MBL coin price predictions rely on how well the platform is positioned in the blockchain film market.
How does the MBL coin work?
All payments on the MovieBloc platform are made using the MBL cryptocurrency. Curation, translation, promotion, watching a film, voting to promote a film and other services are conducted using MBL coins.
The MovieBloc ecosystem is divided into three layers:
The block layer, where all players communicate, contribute, hire, trade and engage with one another
At the market layer distributors can buy films, viewers can pay to see films, creators can employ designers, and various other transactions can occur
Fundraising is the layer that incorporates individual donations. It includes film festivals, during which films compete for MBL awards
As previously mentioned, the MovieBloc platform aspires to be a meeting place for people to trade assets transparently using blockchain technology. Filmmakers, film distributors, translators, designers, spectators, and many other individuals use MBL coins to engage and exchange information.
MBL coin news and highlights
In August 2020, MovieBloc bought back 322m MBL tokens valued at $755,000. According to their official statement, this was to control the circulating supply of the token.
Movie Bloc releases monthly newsletters, wherein people can learn the latest MLB coin news. In the May issue, the platform announced its partnership with Europe-based short film distributor Radiator IP, which added 60 more short films to the platform.
Movie Block partnered with Asiana, a Korean airline giant, to co-organise the Asiana International Short Film Festival (AISFF), the country’s largest competitive festival for short films.
The reported number of available films on the platform was 318 at the end of May 2021 - an increase of 89 films from the reported 229 in April.
MBL coin price prediction & technical analysis
According to CoinMarketCap, MBL coin is currently priced at $0.008 and has a market value of roughly $55m, ranking the currency 457th in terms of market capitalisation (as of 10 June 2021). MBL also has a supply capital of 30 billion.
According to MBL's technical analysis, the current price is down more than 50% from the 30-day high of $0.015. However, this price represents an increase of more than 33% from its 30-day low of $0.006.
According to TradingView, monthly technical indicators are neutral, with two buy and two sell suggestions, while the monthly moving averages provide two buy and one sell signals.
Monthly support level for MBL is $ 0.0003, with the monthly resistance level at $0.008, which is the current price, according to Tradingview.com's Fibonacci retracement levels. If prices continue to rise, this might be interpreted as a bullish signal.
MBL coin price prediction 2021-2028
Wallet Investor, an algorithmic forecasting tool, is bullish on MBL coin’s long-term price prediction.
It expects the minimum price of MBL to be $0.0167 by the end of 2021. For the following years, Wallet Investor reports a minimum price of $ 0.0348 by the end of 2022, $ 0.0497 by the end of 2023, $ 0.0618 by the end of 2024, $0.0721 by the end of 2025, and $0.0784 in June 2026.
According to Wallet Investor’s projections, the MBL coin price will grow by at least 337% over the next five years, or nearly 731% in the best-case scenario.
Another cryptocurrency price analyst, DigitalCoin, predicts that MBL will be moderately bullish, reaching $0.012 by the end of 2021, $0.015 in 2022, $0.018 in 2023, $0.0020 in 2024, $0.025 by the end of 2025, and $0.039 by 2028.
As seen, cryptocurrency analysts predict a bullish MovieBloc (MBL/USD) forecast over the next five years. It's predicted that the price of an MBL coin will increase by at least 75% by the end of next year.
It's important to mention that although analysts' forecasts are data-driven, individuals should do their research to make informed decisions.
Should you invest in MBL coins?
The cryptocurrency market is in a state of turbulence, experiencing extreme volatility. Investing in the short term might be hazardous in light of current news and events, especially if you do not have a well-diversified investment portfolio.
Frequently Asked Questions
How to buy Movie Bloc (MBL) crypto?
MBL coins cannot be acquired with fiat money. They can only be obtained by trading with other established cryptocurrencies, such as Bitcoin and Ethereum. To trade, you must acquire a well-known cryptocurrency and then transfer it to an exchange on which MBL is listed, like Binance. After transferring your cryptocurrency to your preferred exchange, you can swap it for MBL coin.
Will MovieBloc (MBL) go up?
The MBL coin price trend is currently bearish, but it’s still 33% up from its 30-day low. Furthermore, cryptocurrency analysts Wallet Investor and DigitalCoin believe the MBL price will rise over the next five years. But given current volatility, the MBL token is a risky investment.
Is MovieBlock (MBL) a good investment for the future?
The MovieBloc platform is quite innovative. MBL has the potential to gain traction. However, MBL is a risky investment in the short-term. Although market analysts provide data-based predictions, individuals should make their own investment decisions based on personal research, risk tolerance and market expectations.
Can MBL coin reach $0.1?
The forecast by Wallet Investor suggests that the MBL price can be $0.133 in the best-case scenario by the end of 2025.
Read more: New DeFi сoins: top three projects with realistic valuations
Related topics