Ravencoin is a fork of Bitcoin that tries to improve upon asset ownership. The project launched on Jan 3, 2018, the ninth anniversary of Bitcoin. It provides an exchange platform that allows a user or trader to create tokens of any kind and easily transfer the asset ownership to others.
Tokens created on the network can have any properties that the issuer decides. This means you could create a payment token or digital assets representing real-world assets similar to NFTs, or representing virtual currency in a game. These are just a couple of examples of what you can make, but with how open-ended the options are, there are plenty more opportunities on the RVN blockchain.
Ravencoin is a blockchain technology protocol that allows developers and users to create tokens for virtually any asset. The Ravencoin token can then be transferred to third parties “Asset transfer” via the Ravencoin network – a fork of Bitcoin’s original code that, among other things, changes the coin supply from 21 million to 21 billion while reducing the amount of time it takes to mine a block reward. In addition, the Ravencoin project held some of Bitcoin’s features, including periodical halvings while transactions are validated through Proof of Work (PoW).
Much like Bitcoin code, it is a Proof-Of-Work coin. Originally built on the X16R algorithm, ASIC mining quickly became a viable option. The new mining algorithm, Kawpow, allows consumer-grade GPUs to effectively mine the coin while proving to be ASIC resistant to promote decentralization. Although it is possible to solo mine Raven, a large majority of the mining is done through pools.
Although it is a direct fork of Bitcoin, Ravencoin offers distinct differences for miners based on the CFDs. For example, block rewards are 5,000 RVN vs. 50 BTC, and block times are cut down by 90% to 1-minute vs. 10 minutes. The first halving of block rewards is set to occur in January 2022, with block 2,100,000. After that, each subsequent 2.1m blocks will trigger another halving. This puts it at around every three years.
Through Ravencoin, crypto investors and developers can create a tradable cryptocurrency that tracks the price of off-chain assets such as gold, silver, euro, and collectibles. These tokens facilitate and reduce the cost of trading the assets. Virtually anything that has a value can be converted into a raven coin through the Ravencoin blockchain.
Ravencoin is a very community-driven project. It’s entirely open source and run by community-led nodes. This is another coin that doesn’t incentivize running a node, so it promotes decentralization. The coin never had an ICO, and the developers never pre-mined, so its launch was much fairer than many coins. On that same note, the developers never held any coins, so the circulating supply is held mainly by the community.
History of Ravencoin
Upon launch in 2018, Ravencoin’s team was funded by Medici Ventures, a blockchain-focused subsidiary of Overstock.com. Ravencoin was explicitly designed to create a mining ecosystem where the specialized mining hardware used for other cryptocurrencies-called application-specific integrated circuits (ASICs), did not have an advantage over your average computer.
In January 2020, Tron Black, Ravencoin’s lead developer, wrote in a post on Medium that ASIC miners had found a way to game Ravencoin’s original algorithms, giving them a leg up on computers with regular processing power.
To remedy this, the Ravencoin team further modified its algorithms. Even if miners chose to use ASICs, their hardware would be forced to behave like regular computer hardware to compete because the creators specified the algorithms to be most efficient when used by consumer-grade hardware. This essentially evened the playing field-at least for the time being.
Historical price sentiments
Ravencoin began trading in March 2018 and was priced at $0.027857; with a couple of spikes, the price rallied to $0.054 initially and later jumped to $0.055 after a slight pullback close to $0.01 levels. However, the price failed to sustain above these levels and soon declined to $0.014, marking the 2018 yearly close.
The price carried the previous year’s levels for a short period before spiking to the highest at $0.07162 in June 2019. Further, as the price fell into a bearish market and the polynomial regressions caused the price to dropped until the end of 2019, it close the yearly trade at $0.023.
The price showcased less volatility throughout the year by maintaining minimal price fluctuation. Despite a couple of spikes, Ravencoin’s rise was short-lived as the price fell into the previous bearish levels till the end of the year. At the beginning of 2020, the RVN token was priced at $0.2284 and fell back below $0.02 throughout the year. This period was regarded as the “Ravencoin rise period.”
The start of 2021 was calm without any sign of a bull run. However, the price gained momentum by the end of January and set the bullish trend. The price surged remarkably and attained an all-time high at $0.2854 on Feb 20, 2021.
The price underwent a bearish trend with Bitcoin, and thereafter, the price of the coin was trading at a low price of $0.04. As of now, the price of RVN is has recovered and trading sideways at $0.113.
Ravencoin Technical Analysis
RVN crypto has failed to post a new high in a long time in May– but the coin reached new lows afterward. Moreover, the coin’s negative momentum accelerated during the crypto market meltdown week.
The technical analysis of the above chart shows that the price of the RVN token has fallen below the 20-day and 50-day Moving Averages in the 4-hour chart. The market sentiment is sideways and it might be a good time to buy Ravencoin.
The price has bounced off its Feb 17 level and appears to be holding steady – at least for now. One of the most worrying variables to consider when estimating Ravencoin’s future price is that billions in leverage have been lost since Feb. The chances are that we won’t see the levels that Bitcoin (BTC) and certain alt-coins like Ravencoin (RVN) saw in the past for some time unless traders are willing to expose themselves to these risks once again.
Price forecast 2021 from Tradingbeast
Ravencoin (RVN) price prediction for October 2021
The expected max price is $0.1834616, and the mini price is $0.1247539. Thus, the Ravencoin projection for the end of the month is $0.1467693.
Ravencoin price projection for November 2021
The expected max price is $0.1841180, and the mini price is $0.1252003. Thus, the Ravencoin prediction for the end of the month is $0.1472944.
Ravencoin projection for December 2021
The expected max price is $0.1846804, and the minimum price is $0.1255827. Thus, the Ravencoin projection for the end of the month is $0.1477443.
2021-2026 Ravencoin price prediction from Wallet investors
According to WalletInvestor, the price can increase to $0.189 in the coming year, jumping more than 60%. However, by 2026, RVN will be worth $0.482.
Ravencoin price prediction for 2022 by TradingBeasts
Dollar to RVN price projection for January 2022
The expected max price for RVN in January is 0.1851813 USD, and the minimum price is 0.1259233 USD. The average price forecast at the end of the month is $0.1481450, with a 29.71 % change.
Dollar to Ravencoin projection for February 2022
In February, the price is forecasted to reach the max price of 0.1855954 USD and a minimum price of 0.1262049 USD. The average Ravencoin price forecast at the end of the month is $0.1484764, with a 30.00 % change.
Dollar to Ravencoin RVN price forecast for March 2022
In March, the price is forecasted to reach the max price of 0.1858905 USD and a minimum price of 0.1264056 USD. Thus, the average price projection at the end of the month is 0.1487124 USD, with a 30.21 % change.
RVN Price forecast for April 2022
In April, the price is forecasted to reach the max price of 0.1861246 USD and a minimum price of 0.1265647 USD. As a result, the average RVN projection at the end of the month is $o.0.1488997, with a 30.37 % change.
RVN price projection for 2023 by TradingBeasts
Dollar to RVN price prediction for January 2023
The expected maximum price for RVN in January is 0.1827908 USD, and the minimum price is 0.1242977 USD. The average price forecast at the end of the month is $0.1462326, with a 28.04 % change.
Dollar to RVN prediction for February 2023
In February, the price is forecasted to reach the max price of 0.1816250 USD and a minimum price of 0.1235050 USD. The average price forecast at the end of the month is $0.1453000, with a 27.22% change.
Dollar to RVN price forecast for March 2023
In March, the price is forecasted to reach the max price of 0.1803894 USD and a mini price of 0.1226648 USD. As a result, the average price projection at the end of the month is $0.1443115, with a 26.36 % change.
Price forecast for April 2023
In April, the price is forecasted to reach the max price of 0.1787988 USD and a minimum price of 0.1215832 USD. As a result, the average RVN projection at the end of the month is $0.1430390, with a 25.24 % change.
RVN price projection for 2024 by TradingBeasts
Dollar to Ravencoin price prediction for January 2024
The expected maximum price for RVN in January is 0.1705415 USD, and the minimum price is 0.1159682 USD. The average price forecast at the end of the month is $0.1364332, with a 19.46 % change.
Dollar to Ravencoin prediction for February 2024
In February, Ravencoin’s price is forecasted to reach the max price of 0.1750210 USD and a minimum price of 0.1190143 USD. The average price forecast at the end of the month is $0.1400168, with a 22.60% change.
Dollar to Ravencoin price forecast for March 2024
In March, the price is forecasted to reach the max price of 0.1792050 USD and a mini price of 0.1218594 USD. As a result, the average price projection at the end of the month is $0.1433640, with a 25.53 % change.
Price forecast for April 2024
In April, the coin price is forecasted to reach the max price of 0.1836599 USD and a mini price of 0.1248887 USD. As a result, the average RVN projection at the end of the month is $0.1469279, with a 28.65% change.
Ravencoin forecast 2021, 2022, 2023
No one can, however, predict the prices of cryptocurrencies with total certainty. Thus it is crucial to understand that the following RVN price predictions serve merely as a suggestion of possible price development and are not intended to be used as investment advice.
Price projection from Wallet investor
Despite the recent plunge, analysts believe Raven will continue on a bullish momentum for the rest of 2021 and beyond. As a result, WalletInvestor considers Ravencoin a good long-term investment. They give it a 0.161 USD price target by December 2022 and believe it could climb up to $0.316 by December 2023.
2021-2028 from Digitalcoin
According to the Ravencoin prediction on Digitalcoin, the price of Ravencoin in 2021 will start above $0.1708052394 and will rise to $0.2016132442 in 2022. The coin will start in 2023 at $0.2476612641 and rise to $0.2851735107 in the following year. The previous year’s increase will transcend into 2025 as RVN is projected to be sold at $0.3500472874. The coin will further increase in 2026 and will be sold at $0.3995096299. Finally, RVN is projected to reach its all-time high in 2028 at $0.4912196841.
Will Ravencoin cryptocurrency value hit $1?
RVN may hit $0.2 in 2021; however, it may take a couple of years more to reach its trading target of $1.
Will RVN crash shortly?
The price after each rally has dipped a little and consolidated for a while. However, this cannot be considered a crash, yet the crypto space is highly unpredictable, and an upcoming crash cannot be predicted.
Is RVN a good investment?
Ravencoin coin market cap has just crossed the $1 billion mark, and the price is yet to hit $0.2. Therefore, one can consider RVN to hold for a decent period to enjoy gains.
What are the prospects of RVN?
As the project aims to provide an uninterrupted and hazel-free trading platform, many upgrades may be fast approaching that can eventually aid the price rally. Hence the future appears to be flourishing.