Buying opportunity in LBRY Credits
LBRY has developed a nice slow uptrend.
MarketCap is $15,547,495.41 with 68,524,524 LBC in circulation from a max total of 466,424,524 LBC
The coin is mined, so it will take a while before all coins are out.Coins came out in July 2016 with a high around $1,76 , the coin dropped all the way down to around $0,01
today it is around $0,23
There is a solid website with a plan behind it https://lbry.io/
But here we go pure technically
Lets take a look at the long term trend. We see a break out to around $0,11 to $0,17.5 , nearly all the way back to $0,11
A steady uptrend emerged, when it broke out above the old top $0,17.5 to nearly $0,28 .
History repeat itself here, the price went down again to the breakout around $0,20 , making it a strong support base for a up move above the old top $0,28
The strategy is buying around the $0,20 level or 10k sat , to setup a position.
Traders can scalp also on the way up, to make extra income.
What to do if the price doesn't go up, there is a very strong support in the range $0,15 to $0,17.5 , you can build up position all the way down and put some sell orders in to take some profits, then when the price breaks out, you will ride it with a solid position.
Watch your money management.
Here we see a closer look what we van aspect
Pro -tip : There is a big player who is selling 50 BTC on LBRY around 10k in POLONIEX , when he is done, the price will go up and will go to at least the old top around $0,27 .
I will give updates when there is some action.
Update: Technically the price is up again , trending nicely from bottom $0,20 to $0,24 and 9500k sat. to 10750 / 11k sat
It may be a decent investment opportunity, or the large selloff could trigger a panic. LBRY is a curious project. It's trying to solve the problem of, essentially, decentralizing a monetized, censored video platform like Youtube. The problem is that we already have decentralized unmonetized platforms (torrent piracy) to distribute video content.
LBRY doesn't seem to solve the problem of someone ripping off original content and simply reposting it, even on the same platform, charging slightly less for it, and that will happen until the value of the content reaches 0.
I believe Steemit is going to be adding native video support in the future. I can't see how a tiny alt like LBRY is going to compete with a platform in the top-20 right now with an established and growing community of active users.
What fundamentals do you think are going to make LBRY a compelling platform that will draw a strong community of users to it? That's what brings value to a coin.
As i wrote in the article: But here we go pure technically
Honestly i dont know the fundamentals which are going to make LBRY a compelling platform that will draw a strong community of users to it. I just trade it. I wont be a long term investor in LBRY. I move my BTC from crypto to crypto and want to share my short term opportunities here . Trading is for own risk. Technically the price is up again , trending nicely from bottom $0,20 and 9500k sat.
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