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:
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
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.
It must be noted that Ravencoin got popular right after the launch. After being enlisted on CryptoBridge and 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:
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
Good news: Binance US has enlisted Ravencoin in October 2019. That attracted even more traders’ attention to the coin and contributed 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, in September 2019, Ravencoin successfully organized the first meetup in Asia to introduce their product to the Asian audience.
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 a too high price for the end of 2019. However, in 2020, when Ravencoin market cap multiplies, we could even see RVN approaching $1 level.
According to businesstelegraph.co.uk, the current market cap of $170 mln has to multiply by 4 times, which doesn’t seem to be possible yet.
Bitgur website provides an optimistic outlook at Ravencoin price prediction. According to it, RVN might reach $0.06 by October 2020, and continue growing.
According to Cryptoinfobase website, Ravencoin price prediction is $0.09, while in winter 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 2020-2025?
To some extent, reddit users are right: a lot of things depend on Bitcoin, and Ravencoin is not an exception. If the bear market continues, we’d see RVN cost fall down to somewhere around $0.14.
As for Ravencoin price prediction 2020, this 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.
Is Ravencoin a Good Investment?
The price of Ravencoin is in a bull market. This means that it’s quite reasonable to purchase or mine RVN cryptocurrency. If you have a mining rig, you can simply get Ravencoin by mining it solo or in a pool.
Is Ravencoin Worth Mining?
Ravencoin mining gives you a good profit. You can always calculate reward (according to your CPU/GPU characteristics) in the RVN mining calculator.
How to Buy Ravencoin (RVN)?
You can easily buy Ravencoin (RVN) with your Card (Visa and Mastercard accepted) on Changelly for the best rates: