What is Ravencoin (RVN)? Ravencoin is a peer-to-peer blockchain that allows for the quick generation and transfer of assets between parties.
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Ravencoin Price Prediction: Introduction
Tokens have caught the attention of investors because of their oscillating price movements, and that’s why they are interested in getting a clear Ravencoin price prediction. You may wonder, why are investors so keen on RVN price prediction? Reason? The coin is anchored on the Bitcoin code that allows investors to create their own tokens and transfer ownership to others.
RVN is currently trading at $0.4526, according to pricing data from CoinMarketCap, with a market capitalization of $1,319,495,672. The fully diluted market Capitalisation of the coin is $2,765,140,262.
Ravencoin promises to revolutionize the future because it will create a tradable digital asset that promises to track the prices of off-chain assets. The tokens created through the Ravencoin network will track prices of collectibles, gold, silver, and the Euro. Moreover, the tokens will substantially reduce the cost of trading this asset. In fact, using the Ravencoin blockchain, anything that has value can be converted to RVN.
RVN Price Prediction: Technical Analysis
For a comprehensive RVN price prediction, we’ll look at the recent price action for guidance. But, for a start, it is imperative to mention that Ravencoin started trading at $0.027857 in March 2018. By the end of the year, the price was $0.014.
From the charts above, we can’t help but ask ourselves: are the bulls losing control? If the answer is yes, then this Ravencoin price prediction is that this drop might happen soon on the $0.1890 price level. For the better part of 2021, RVN has traded under this resistance barrier, where a strong bullish week in August failed to sustain a breakout. However, there is one support trend line that could determine whether RVN will slide lower or stay put.
Ravencoin has seen multiple higher lows since May. However, RVN has already produced a string of lower highs, suggesting price congestion. Moreover, RVN price gas has been struggling to break the consolidation pattern and implant itself above $0.1599 and $0.1537. This analysis suggests that the bulls do not have the strength to move Ravencoin price prediction.
Considering the bullish out on the big crypto, a build-up of the inclining trend line could spell great fortunes for RVN price prediction and trigger an uptrend to $1. Breaching this foothold will bump Ravencoin’s price up to $0.28, constituting a 50% correction. The RVN price could rise up toward a $0.20 support floor in a bullish case, where a trader could give RVN a significant leg-up.
Regardless of the bullish outlook, a daily close below $0.1537 will indicate that the bears are back. In such a case, RVN could retreat and encounter the $0.0915 support floor. At this point, failure to break below the support zone could confirm the start of a new uptrend and likely propel Ravencoin’s token price prediction to $0.2891.
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Ravencoin Price Prediction: Market Opinions
Investors and analysts alike are all looking up to RVN’s next big move. In making our 2021-2022 price prediction, we’ll take into account the Ravencoin price prediction made by other authoritative sources and then give our verdict.
WalletInvestor is bullish about the prospects of the RVN coin. The prediction firm believes that the token has the potential of rising to $0.197 in one year. Therefore, the prediction system believes that the token has no potential of hitting the $1 mark in a year’s time. This RVN price prediction looks strong than ever, making a $1 prediction inevitable. Also here are some of the best cryptocurrency price predictions sites to follow.
TradingBeasts predicts that RVN will gain marginally from its current price to trade at an average price of $0.1407111 by the closure of 2021, and close 2022 at a lower price of $0.1362051, indicating that the token will oscillate within the stable territory. This RVN price prediction reveals Ravencoin is primed for a solid breakout in 2022.
DigitalCoinPrice is quite bullish that price of price of RVN will rise to $0.16736 in 2021 and maintain a bullish streak that will see the point reach $0.19754, slightly below the $0.2 mark in 2022. With a significant influx of buyer volume, DigitalCoinPrice eyes a burst of bullish potential to set the record straight over several resistance zones.
Gov.Capital asserts that RVN has experienced an Uptrend for the most part of the year, with similar altcoins also experiencing a similar trajectory. Consequently, based on their algorithm, RVN will close the year trading at $0.1061with the best possible price of $0.122015.In 2022, Gov.Capital is very bullish, expecting the coin to be around the $0.1 mark, hitting the $0.15 mark by mid-year, and finally closing the year at $0.196.
PricePrediction.net is more bearish in its short-term outlook of the RVN token. Through their AI-assisted technical analysis, the prediction firm believes that the token will trade at an average price of $1.2.However, they are positive that the trend will change in 2022, and the price will trade at an average of $0.19.
Currency.com reveals RVN prince hints at $0.19 by October 2022 and suggests a potential push to $0.30. This RVN price prediction steals the spotlight from previous predictions and hints at RVN hitting a point of maximum pain in October next year. The target here is $0.46 as a high on its way to clear several critical hurdles.
Ravencoin Price Prediction: Cryptocurrency Experts and Analysts
The trading team at ProjectSyndicate gives a RVN price prediction that seems to suggest price is coiling up for an explosive move in 2022, eying up to 700% gains. The prediction points to a closing window of buying opportunity that prepares the price for a solid advance with a price target of $0.36. With a short-term bearish preparation for a final buyer mobilization, this Ravencoin price prediction gives plenty to justify a bullish price.
Likewise, cryptocurrency trading expert Nas Almutairi predicts RVN is primed for an explosive breakout as it prepares to test $1.2866 sometime in 2022. The prediction places emphasis on the buying opportunity that presents itself towards the end of the year to provide a reasonable amount of fuel to place RVN at $0.2617 by the start of 2022. Investors can expect the current consolidation to resolve in favor of the bulls, in the long run, thereby screaming buy opportunity.
Latest News and Happenings Concerning Ravencoin
Before we delve into the latest happenings, let’s look at the uniqueness of Ravencoin that makes it alluring to investors. First, the token allows the inventor to have a unique name for their token. The essence of peculiarity is to limit spoofing and fraud using coins with similar names. Beyond that, Ravencoin scales the uniqueness of the name by providing a framework for the naming.
Moreover, the unique naming enables token issuers to establish a brand identity that is identifiable by Ravencoin asset browsers. With a clear brand, trust automatically builds, enabling you to issue sub-tokens that can also gain trust in the market. For your information, Ravencoin has sub-assets that are predominantly a reserve of the owners of the root asset. As a result, it is possible to create NFTs through the franchise.
Secondly, the Ravencoin platform has a built-in open-source software for creating assets. Similarly, it can transfer assets. This differentiates it from the Ethereum software that uses a smart template contract for the issuance and transfer of assets. Specifically, Unlike Ravencoin, Ethereum wasn’t designed with assets as the primary goal. Rather it design was primarily to handle smart contracts.
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Finally, Ravencoin will break the monotony of monopolistic players in the mining industry who use sophisticated equipment. Using the protocol, even GPU users will be able to mine.
In September, Impasse’s Technology Inc., inaugurated a blockchain wallet, digital asset builder, and viewer by the name MangoFarm Assets.com that uses The Ravencoin blockchain to create low-cost digital assets. Effectively, the IPA assets and their related tools will ouster the dominance of Ethereum as the solution to digital assets. The assets created have been listed and are currently trading on the TheAssetMarketplace.com. What’s more, TheAssetMarketplace.com, a new platform on the IPAssets, is absolutely free.
In January 2022, Ravencoin first halving is scheduled to take place. Specifically, in approximately 70 days, the number of generated Ravencoin rewards per block will be divided by 2, thereby reducing them from 5000 to 2500. Therefore, they will become scarce, and the halving reward will bring the total supply to 21 billion. You may ask, what will be the implications? Well, if you are a minor, then your mining rewards will plummet. If you are a trader, this is the most volatile period.
Ravencoin Price Prediction: Verdict
Ravencoin price prediction shows RVN experiencing a massive upswing over the next few months. This development could see RVN rally and set up a temporary swing high. In this bullish case, this initial updraft could serve as the base for a strong uptrend, establishing a firm bullish directional bias.
It seems to be a good time to be a RVN investor. With the short buying window winding up fast, a trader who wants to enjoy the wonderful prospects on RVN price prediction can jump on the bandwagon early before this train leaves the station.