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RavenCoin is a classic digital currency that runs a peer-to-peer system. Being a more advanced hardfork of Bitcoin, Ravencoin puts a heavy focus on reliability, anonymity, confidentiality, publicity, open access and much more. Unlike Bitcoin and Ethereum, Ravencoin serves to transfer the ownership of assets. Each transmitted object is represented by an unmarked token created by a user of the Ravencoin platform.
The project was launched in 2017, and Ravencoin ICO was organized on January 3rd, 2018. VOTE tokens were given to the RVN holders in 1:1 ratio. Today, it’s 41st cryptocurrency in the Top-100, and the development team is constantly working on node modernization to improve the system. Due to the unique idea underlying the project, RVN is highly valued in the crypto community, which positively affects the price. In March 2018, RVN coin price soared by 30% overnight and has displayed aggressive value growth.
Ravencoin Fundamental Value
Ravencoin tokens are used to transfer digital assets of users to each other, as well as to perform a number of payment transactions. Ethereum and Bitcoin (recognized “giants” of the cryptocurrency industry) do not have the ability to transfer ownership of assets, but RavenCoin provides such an opportunity. In the white paper, Ravencoin team suggests using RVN token for the exchange of such ownership right on such things as:
- Physical assets (gold bars, rare documents, physical currency, real estate., etc);
- Virtual goods (electronic tickets, gift cards, free miles from airlines, etc).
One of the major achievements of Ravencoin team is the creation of their own algorithm for hashing called ‘X16R’. Experts have set the task to achieve the invulnerability of the system for ASIC-devices, and make mining available via PC and video cards. Despite a pretty high mining difficulty, the number of RVN miners is growing, so is the belief in its potency.
The open-source code that is used in the system allows everyone to contribute to the development and improvement of the project. Initially, the developers changed the Bitcoin code – it served as the foundation. Today, over 400 contributors help to build the Ravencoin blockchain.
Key changes include faster block rewards. Ravencoin was not designed as a fiat currency, it focuses on user control, privacy protection, and censorship resistance. It’s independent of various jurisdictions, providing users with additional features to fulfill their needs.
|Markep cap||$140 304 098|
|Curr. Supply / Total Supply||4 334 685 000 / 21 000 000 000 RVN|
|ROI since launch||22,15%|
|Launch date||3 January 2018|
Ravencoin Coin 2018 Price History
It must be noted that Ravencoin got popular right after the launch. After being enlisted on CryptoBridge и Nanex, in March, RVN soared in price, and 2018 was generally successful for the project. Like many other altcoins, it was suppressed by the bearish period in the middle of 2018, but then started steadily evolving.
Ravencoin (RVN) Technical Analysis
What do the traders think about the current situation with RVN? Check Ravencoin (RVN) technical analysis on TradingView:
Ravencoin (RVN) Community Reputation
Today, Ravencoin is as popular as never before. It’s discussed by both miners and traders. If you open reddit, you will see how many people are discussing the mining opportunities – the number of participants is increasing quickly.
Good news: Binance US is exploring the opportunity to enlist Ravencoin. That would attract even more traders’ attention to the coin and contribute to the growth of Ravencoin price. On August 21, tZERO was the next platform to add Ravencoin, and the number of exchanges supporting it is constantly growing.
Aside from it, Ravencoin is preparing for the first meetup in Asia to introduce their product to the Asian audience. It can become the next trigger of RVN price growth.
As we see in the Google Trends, the peak interest to Ravencoin emerged when the cryptocurrency price soared. Last time, it happened in March 2019, when RVN coin price increased by 400%.
Influencers Opinions & Predictions For Ravencoin
When it comes to Ravencoin price prediction, many Internet users are sure that the price of RVN will depend on how Bitcoin develops – all in all, RVN is a BTC hardfork. For example, reddit users think $0.30 is too high price for the end of 2019. However, in 2020, when Ravencoin market cap multiplies, we could even see RVN approaching $1 level. Thus, $0.10-0.15 by the end of 2019 is a realistic target.
According to businesstelegraph.co.uk, by the end of 2019, Ravencoin can enter the Top-20 world cryptocurrencies. However, that would mean that the current market cap of $140 mln has to multiply by 5 times, which doesn’t seem to be possible yet.
Bitgur website provides an optimistic outlook at Ravencoin price prediction 2019. According to it, RVN might reach $0.06 by October 2019, and continue growing.
According to Cryptoinfobase website, Ravencoin price prediction 2019 is $0.09, while in winter 2019-2020, RVN will reach the $0.14 level.
While experts do not share their projections, Twitter users share very optimistic forecasts – the vast majority of them are sure RVN will overcome the $1 threshold in 2020.
In the nearest future, RVN can make a further nosedive. According to TradingView user panhyar, RVN is forming the triangle and should soon touch the support where RSI also showing near the oversold zone.
What to expect from Ravencoin (RVN) in 2019-2020?
To some extent, reddit users are right: a lot of things depend on Bitcoin, and Ravencoin is not an exception. If the promised altcoin season starts in fall 2019, we could see RVN coin soar. If the best scenario plays out, our RVN price prediction 2019 is $0.06-0.08 by the end of the year. If the bear market continues, we’d see RVN cost fall down to somewhere around $0.14.
As for Ravencoin price prediction 2020, the next year should be very successful for the coin. Theoretically, RVN has a chance to reach $1 threshold, but it requires an enormous amount of work and promotion. Thus, if we stick to realistic forecasts, RVN might easily reach $0.3-0.4 during 2020.
All in all, Ravencoin (RVN) is a great long-term investment because its technological superiority is nothing to sneeze at. A great idea behind the project might push the coin to the Top-25 world cryptocurrencies. If the token gets implemented in a larger list of exchanges, and new spheres of application are discovered, RVN price will surely skyrocket in the nearest 2-4 years.