- What is Revencoin?
- What is the RVN coin?
- Ravencoin Price Analysis for the Past Several Years
- Ravencoin Price Prediction for 2022, 2023, 2024, 2025 and 2030
- Conclusion
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 peak at $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.
2021 was a big year for the entire crypto market, and Ravencoin was one of the altcoins that saw a huge growth that year. In February the RVN price reached 28.5 cents — the biggest value as of February 2022. In the spring, the price was above 15 cents but dropped by the summer. There have been two more spikes in the fall. In December, the crypto market saw a downfall and Ravencoin wasn't an expection. In the winter, the coins price has been fluctuating between 6 and 7 cents.
Ravencoin Price Prediction for 2022, 2023, 2024, 2025 and 2030
Ravencoin price seems to be growing with huge spikes and turbulent corrections within a periods of several months. In general, experts see this coin's price increasing in the future. Probably it will have strong peaks and significant volatility but annually, RVN shows a gradual and steady growth.
So, what would my Ravencoin price prediction be? I believe that the price will increase over the next several years; the problem is that it will not be an increase that will get more people to invest in. In might go through another peak-correction pattern in 2022 but by the end of the year it will have a higher price than now. According to my calculations, by the end of 2022, the RVN price will slightly exceed 10 cents. A year after, it will gain more reaching about from 15 to 19 cents.
The BTC block reward halving will probably take the crypto market up in 2024. For Ravencoin, it means that it will probably update its ATH but then drop again reaching a new support level. By the end of 2024, RVN can reach up to $0.34. The next year, RVN will cross the $0.4 line and reach $0.42 at worst. The price will keep on growing further and by 2030, experts predict Ravencoin's price to reach around $3.6.
You can exchange RVN at Changelly PRO in a few moments. Another option could be the Binance exchange.
Changelly PRO is a cryptocurrency exchange launched this year by the development team that created the Changelly instant exchange in 2015. More than 80 trading pairs are represented on the exchange. Notable features include competitive commissions and support for margin trading.
Conclusion
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.