Ravencoin (RVN) Price Prediction 2021-2025 - Should You Buy It Now?
- What is Revencoin?
- What is the RVN coin?
- Ravencoin Price Analysis for the Past Several Years
- Ravencoin Price Prediction for 2021, 2022, 2023, 2024 and 2025
Cryptocurrencies have grown a lot over the past decade. They didn’t only grow in number and popularity; they also improved in regard to the platforms that they are developed on. With over 2000 cryptocurrencies available on the market, it is difficult to determine which one may be a good investment decision. While not all of them are active, the number is still too significant for you to decide which one to invest in.
Among the many cryptocurrencies that are still active today is Ravencoin. To ensure that you are looking at a cryptocurrency that is worth investing in today, I will present my prediction about the coin in the next five years. Before I do that, here is a quick introduction to the network and the coin.
What is Ravencoin?
While the network and token bear the same name, there is a difference. The Ravecoin being a fork of the Bitcoin blockchain means that you are looking at almost the same platform. Unlike Bitcoin, Ravencoin is an open-source project, so there isn’t a company or a team of developers standing behind it. The network is developed to provide a peer-to-peer transfer of assets, and unlike other similar networks, Ravencoin was designed just for that purpose, and it has a few advantages.
Anyone on the network can create a new asset, and it can be used for practically anything. Ravencoin also provides a much faster block time of only 1 minute. It was developed with a new mining algorithm KAWPOW that provides a better decentralization, unlike Bitcoin. For the future, the people behind it plan to implement a messaging and voting option.
What is the RVN coin?
Like any other blockchain ever developed, Ravencoin has its own token that serves as a reward for the nodes that do the mining on the network. RVN or Ravencoin is that token, and even though it is mostly like Bitcoin, there are some differences.
The total coin supply is 21 billion, which is a lot more than Bitcoin. At the same time, the block time is reduced to 1 minute instead of 10, and the reward for a new block is 5000 RVN, something which you should not get too excited about when you see the price of the coin.
Now that we have defined the network and the coin, it’s time to dive into the Ravencoin price analysis and provide you with a prediction for the price’s future.
Ravencoin Price Analysis for the Past Several Years
Ravecoin has been on the market for about two and a half years, and in that time, it had a pretty bumpy ride. Looking at the graph, the price seems like it went on a wild roller-coaster ride. Looking at the Ravencoin price analysis, we can see that the coin’s price never passed the $1 mark, but it had huge spikes and drops over the years.
The coin appeared on the market on March 10th, 2018, with a price of $0.027 and immediately saw a spike of over $0.03 the next day. The price took a dive and reached $0.021, followed by another spike where it increased more than double, reaching $0.058. All of this happened in less than a month.
Ravencoin’s price continued to drop over the next few months before another spike in May 2018, reaching $0.052. From that point on, the price began to fall and continued to hover a little over $0.01. A small increase in August seemed promising, but it was short-lived, and the price dropped below $0.02. In that same year, October proved good for the Raven coin, where the price increased by a factor of 4, going over $0.06. from that point un until the second quarter of 2019, the price dropped and stayed around $0.01, the point where we see the all-time low of this coin.
In March 2019, Ravencoin’s price became extremely volatile. It started to increase and hold a relatively stable price between $0.05 and $0.06. In May, we had a slight dip to around $0.045, and after two slight spikes, it reached its all-time high of $0.077. Ravencoin’s price started to decrease quite unsteadily for the remainder of 2019 and the beginning of 2020. Around the time the pandemic broke out, there was another dip to $0.012 and a gradual increase over the next few months, reaching $0.025 in August. From that point on, the price has been steadily dropping. The lowest point was reached by November at the 1 cent mark. Then, the relatively stable climb began. As of January 20, 2021, the RVN price has reached $0.017. The market cap is $139,643,117 which makes the coin the 109th biggest coin.
Ravencoin Price Prediction for 2021, 2022, 2023, 2024 and 2025
Making a forecast on the future of the price of cryptocurrency is not easy. With that said, making a Ravencoin price prediction for the next five years is extremely difficult. Looking at RVN price analysis for the past several years, it is difficult to say for sure that we see a pattern and determine if the price will increase or not. To be honest, things can go both ways.
If we look at the initial price of Ravencoin when it came to the market and today’s price, we see that it dropped by more than a half. On the other hand, looking at the spikes and drops in the in-between, we can say that it will not be a steady ride whichever way the price will go. As you can see from the graph below, the pandemic did quite a lot of damage to the Ravencoin price, so external factors will also play a huge role.
So, what would my Ravencoin price prediction be? I believe that the price will increase over the next five years; the problem is that it will not be an increase that will get more people to invest in. The Ravencoin price could reach its all-time high of $0.077 and maybe even pass it. The issue is that even if that happens, it may not be in a couple of years. Let’s break things down.
Looking at the trends for the past several years, there is a possibility of seeing the price increase in the first half of 2021. We have seen it happen before, and there could be a pattern there. If we disregard the damage the pandemic did to the Ravencoin price, the coin has entered 2021 with a price above $0.013. As things stand today, I believe that the increase of over $0.02 is getting delayed until mid-2021.
The trend should continue in the future, and we could see an increase of 1 to 1.5 cents per year. It is normal to see spikes and drops, but the average price should increase and continue that trend for the next several years. Fast forward several years, and in 2025 the price will probably be around $0.07. I doubt that the price will surpass Ravencoin’s all-time high by the end of 20205, but it may happen in 2026.
Overall, I don’t think that the Ravencoin will reach a value of 10 cents in the near future. That also means that reaching a price of over $1 seems impossible at this point. Keep in mind that the prediction here is based on my personal opinion and the Ravencoin price analysis. A lot of factors come into play when it comes to the price of the cryptocurrency, so there is a chance that we won’t see a price increase at all.
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Even though I believe that the price of Ravencoin will increase for the next several years, I would still not recommend it as a good investment. The price will not see that big of an increase to justify investing in it, and the fact that it had a pretty unstable past, there is the possibility for the price to go down instead of up. My recommendation is to go for other coins on the market that are more stable and have a higher chance of price increase.