Ravencoin is one of the more concern concepts in cryptocurrency. With an up-and-down price history, is it possible to make an accurate ravencoin price prediction ? Ravencoin (RVN) is the native coin of the Ravencoin blockchain. This blockchain, which is based on the Bitcoin code, allows people to create their own tokens. It could be argued that Ravencoin ’ mho cryptocurrency is a fork of the Bitcoin blockchain, but there ’ s one thing that makes it unlike from many fork-based cryptos. rather than being created after the people behind the master crypto forked the coin – in effect, creating a modern adaptation of the crypto – it was created by getting the code behind BTC and changing it independently, in an attempt to create a trade name new cryptocurrency.
As the coin ’ s white newspaper, Ravencoin : A Peer to Peer Electronic System for the Creation and Transfer of Assets, says : “ Ravencoin is designed to efficiently handle one specific function well : the transmit of assets from one party to another. “ One finish of the Raven protocol is to create a use case-focused blockchain and exploitation attempt which can create code, providing advantages for particular use cases, while contributing to open source code which could be used by Bitcoin or early projects. “ In an age where people can move significant amounts of wealth instantaneously using Bitcoin, ball-shaped consumers will likely demand the lapp efficiency for their securities and similar asset holdings. ”
The Ravencoin proof-of-work model powered by KAPOW
Like bitcoin, the Ravencoin cryptocurrency uses a proof-of-work consensus mechanism, where computers solve increasingly complex mathematical equations to add new blocks to the blockchain and mint newly coins. Where RVN differs to BTC is that RVN has a mining algorithm, called KAWPOW, that attempts to get around this issue by using the graphic processing whole ( GPU ) memory and computing capabilities of casual personal computers. In theory, this will allow most people to carry out ravencoin mining. If person does become a ravencoin miner, then they receive a flat honor of 5,000 RVN every time they add a block to the blockchain. These are not the only key differences between RVN and BTC, though. There is besides an unusual function to ravencoin – it allows you to create your very own crypto. All you have to do is buy 500RVN and you can create your own keepsake and give it a appoint. You can besides create sub-assets for 100RVN, according to Tron Black, one of Ravencoin ’ s founders. The RVN you have spent is then ‘ burned ’ – locked off out of circulation at an inaccessible address and, efficaciously, destroyed. So the supply of RVN is continually being reduced. once you have come up with a unique name for your new crypto token you have to decide three things. First, how many tokens will be issued. second, its exchangeability – whether or not it can be exchanged for something that is identical, but not the same thing. And last, to how many decimal fraction places it can be divided. You can besides decide to pay out rewards for that nominal in RVN, giving it more uses than buying, selling, trade and being burned to create modern cryptocurrencies. Anyone who creates tokens using the Ravencoin blockchain is able to contact anyone who holds their tokens. This means that token holders can be told if and when they have to vote on proposals involving the post-RVN crypto they hold. RVN mint is movable between different users of different tokens on the network, which means that holders can delegate vote rights across the diverse platforms that exist on the chain .
Who established Ravencoin?
Ravencoin was founded in 2017 by Tron Black, Joel Weight and Bruce Fenton. The three have a background in what could be described as mainstream businesses, rather than the technical school background that is coarse to a batch of cryptocurrency founders. For example, Weight besides serves as the CTO of on-line retail business Overstock, anterior to which he worked at Medici Ventures. Fenton served in the US Navy before becoming a vice-president of banking giant star Morgan Stanley and then foreman investment policeman at Atlantic Financial, before outgo three years on the board of the Bitcoin Foundation. Black worked aboard Weight at Medici Ventures before founding Verified Wallet and Wintronix, where he served as CEO. In 2018, the RVN crypto was launched and made available to anyone who was interested, with no initial coin offer ( ICO ) .
Early price history of Ravencoin (RVN)
Before we examine a Ravencoin price prediction, let ’ s take a look at its history. While past performance is no guarantee of future results, one thing to note about ravencoin ’ south price history is that it has experienced many peaks and troughs since it first launched in 2018. This is not one of those coins that stuck within a particular compass for a distance of meter before booming. rather, its first gear class or therefore of open trade was a good exemplar of the kind of excitability that is frequently involved in cryptocurrency. On 10 March 2018, Ravencoin opened at $ 0.0265 before hitting an intraday high of $ 0.0343 on 12 March. What looked like an initial rise fell away, though, and it dropped to an intraday first gear of $ 0.0171 on 18 March. There was some encouragement when it reached an intraday high of $ 0.07292 on 27 March, having had an intraday low of $ 0.03627. This means that it more than doubled in mere hours, causing many experts to promptly change their Ravencoin prediction, before falling back down to close at $ 0.06977. Ravencoin then settled down to trade at around the $ 0.03 punctuate until 4 May, when it hit an intraday high of $ 0.05779 before slumping to close at $ 0.02933 on 7 June. It stayed around this degree for a while until October 2018, when it shot up again, trading at $ 0.06079 intraday on 23 October. The RVN price then fell, dropping below $ 0.03 on 14 November 2018, and then falling below $ 0.02 on 22 November. It broke back through that level on 27 November, then fell again on 2 December 2018 .
2019: Boom period for RVN
Ravencoin didn ’ deoxythymidine monophosphate get back above the $ 0.02 level until 3 March 2019, when it closed at $ 0.02371. Ravencoin then enjoyed a abbreviated boom, reaching an intraday high of $ 0.06928 on 29 March, up 192 % from a few weeks early. On 7 April 2019, it reached a high of $ 0.07414. then the RVN price started to dwindle, reaching an intraday low of $ 0.04114 on 10 May before hitting a high of $ 0.08026 on 3 June. then it lento entered a downward tendency.
Read more: Could These Altcoins Be Ethereum Killers?
2020: Downtrending to all-time low
This downward swerve continued for some time, and between 4 November 2019 and 3 February 2020, Ravencoin stayed below the $ 0.03 mark. While it spent most of February 2020 above that indicate, RVN fell again at the end of the calendar month. On 13 March, RVN reached its all-time low, falling to $ 0.008794 in intraday trade. There was a recovery of sorts and it closed that sidereal day at $ 0.01435. It then stayed somewhere between one and two cents until 24 May, when it reached an intraday high of $ 0.02045. Ravencoin hovered around $ 0.02 until the end of September 2020, when it fell below that item again and did not recover until 29 January 2021, when it closed at $ 0.02704 .RVN price history – Credit: Currency.com
RVN price history: 2021 to 2022
The early partially of 2021 was a boom time for cryptocurrencies by and large, and Ravencoin found itself caught up in the market ’ s general excitement. On 30 January, RVN reached an intraday high of $ 0.03915. While it was soon back below $ 0.03, it recovered to close at $ 0.03006 on 5 February 2021. There was more growth to come, and Ravencoin broke through $ 0.04 on 9 February 2021, hitting an intraday high of $ 0.05337 the play along day. It wasn ’ triiodothyronine stopping there, though – on 18 February, RVN reached an intraday high of $ 0.1005, breaking through the 10-cent barrier for the first clock time. After that, the mint ’ mho price kept growing, setting an all-time high on 20 February 2021 when RVN more than doubled to reach $ 0.2854. Although it could not quite sustain that price floor, the mint hovered around $ 0.20 before rising again to hit $ 0.2639 on 14 April. Again, however, the mint could not maintain that level and dropped, hovering approximately $ 0.15 before the great crypto day crash of 19 May. At that point, Ravencoin reached an intraday high of $ 0.132, followed by a 57 % price cliff to $ 0.05649, before it recovered to close the day at $ 0.08647. The Ravencoin ( RVN ) price stayed below its pre-crash high for some time until 10 August, when it reached a high of $ 0.1412. It then grew to $ 0.1769 the follow sidereal day and, despite some dips, maintained a monetary value close to where it had been before the events of 19 May. RVN was trading at approximately $ 0.11 on 25 November, and at about $ 0.08 by 20 December 2021. many cryptocurrencies struggled over the fourth stern of 2021 as a result of both imposed and potential regulations, with the Omicron variant of Covid-19 looming large over global markets .
RVN new year rally ends in slide downhill
By the start of 2022, the Ravencoin ( RVN ) price was about $ 0.10. A brief senior high school was seen on 4 January 2022, with a little rally to just over $ 0.13. however, by the end of the calendar month, the coin was worth approximately $ 0.066. February was pretty mediocre, all told. RVN did have something of a bright position early in the calendar month, when the price rallied to hit $ 0.08053 on 8 February, but it then rolled back declivitous. Things became worse when Russia invaded Ukraine on 24 February and the coin dropped to a low of $ 0.04635. Ravencoin then spluttered back into life to an extent and, on 10 March 2022, was trading at around $ 0.515. Since then, there ’ randomness been a small snatch of recovery and, on 23 March, it was a little under $ 0.06. After that, the coin went through a imperial catch in line with the commercialize, hitting a periodic high of $ 0.7626 intraday on 31 March 2022. In April, however, things went downhill, with China ’ sulfur ban on crypto contributing to a downward slither which saw RVN fall to around $ 0.049 on 28 April and stand at about $ 0.037 on 9 May 2022. On 12 May, the depegging of the TerraUSD stablecoin and the collapse of the consort LUNA crypto meant that RVN fell further to $ 0.02028. By 26 May, things had improved slenderly to $ 0.02753 and its up here and now saw it sporadically break $ 0.03 at respective points between 30 May and 1 June, but then things went down again and, on 10 June 2022, it was worth about $ 0.026. At that prison term, there were 10.47 billion RVN in circulation out of a maximum add of 21 billion. This gave ravencoin a market cap of around $ 273m, making it the 119th largest crypto by that measurement. then that ’ s the coin ’ sulfur past, but what of the future ? What is the Ravencoin price prediction ? Let ’ s see what other analyst sites are predicting .
Ravencoin price prediction
first base, WalletInvestor ’ s artificial intelligence-derived ravencoin ( RVN ) price prediction is for RVN to reach $ 0.05046 in a class ’ sulfur time and $ 0.134 in five years ’ time. future, DigitalCoinPrice ’ s Ravencoin price prediction for 2022 is for the mint to trade at an average of $ 0.0342 before reaching $ 0.0388 next year. The locate ’ mho Ravencoin price prediction for 2025 sees RVN trade at $ 0.0505 before it drops to $ 0.0485 in 2026 and then rises to reach $ 0.0573 in 2027, with this up momentum seeing it close the decade at $ 0.11. The web site ’ s Ravencoin price prediction for 2030 states it should get to $ 0.12. interim, Gov Capital ’ s custom algorithm says that RVN is in for a badly time this class, dropping to $ 0.0155 on 12 July. There should be some recovery, though, and it should finish the year at around $ 0.04. On 10 June 2023, it should stand at $ 0.0514, while a class later it should have closely trebled to trade at fair under $ 0.15. By 10 June 2025, it should be between $ 0.26 and $ 0.27, but the web site suggests Ravencoin can attain an average of $ 0.43 a year from then, while its prediction for 10 June 2027 is between $ 0.59 and $ 0.60. ultimately, PricePrediction.net suggests RVN can reach $ 0.035 this year before hitting $ 0.05 following class. It predicts RVN will continue to rise, reaching $ 0.073 in 2024 and $ 0.11 in 2025. The following class, it should trade at $ 0.15 before jumping to $ 0.23 in 2027, $ 0.34 in 2028 and then $ 0.50 in 2029. The new decade should see RVN worth $ 0.70, PricePrediction.net forecasts, while the up motion will continue in 2031 when it could be worth an average of $ 1.01 .
Will ravencoin reach $1? It might – but if it does, it ’ s improbable to be for a long time. Most monetary value predictions for Ravencoin ( RVN ) suggest a slow exploitation, with little evidence that the coin will reach a dollar at any degree soon. That is not to say that it can not ever reach $ 1 – merely that it is not likely to happen until the 2030s at least.
Is ravencoin a good investment? It might be. We do have to issue a parole of warning here, though : while the forecasts above are broadly optimistic, it is worth pointing out that forecasts are frequently incorrect. We besides need to mention that RVN is gloomy quite a bite from where it was 12 months ago, and we inactive don ’ t know for certain if and when it will reclaim such heights. If you want to invest in Ravencoin, do your own inquiry and remember that cryptocurrencies are extremely fickle, and as RVN ’ south price history shows, can go down angstrom well as up. never invest more money than you can afford to lose .