Ravencoin (RVN), is a fork of Bitcoin and is a relatively young token. Developers published RVN on January 3, 2018, and introduced it to the crypto world. And in the last few months, investors’ attention attracts it due to its significant price growth. Thereby, the RVN price prediction 2021 is essentially important for crypto activists and investors.
The asset has got its name from the fictional world of the well-known Game of Thrones series. The official standard post for Ravencoin defines it as “a digital peer-to-peer network for the simplification of asset transfers”. It is fundamentally an open-source fork of Bitcoin encryption with quicker block reward duration. And it focused on censorship resistance, transparency, and privacy. Ravencoin was shaped from the Bitcoin codebase but exploits the X16R mining algorithm. The ASIC-resistant currency uses 16 diverse mining algorithms that spontaneously rises network security.
Ravencoin blockchain is shaped to operate special commands. It assists in determining ownership of assets flawlessly. In addition, RVN blockchain, similar to Bitcoin, tries to make direct payments probable. The unique factor of RVN as an open-source project is that it is decentralized. There are no master nodes or ICO is behind the platform.
Ravencoin (RVN) has altogether the possessions of a worthy crypto scheme. No ICO, no founders holding a major portion of coins. RVN is based on the PoW project that anyone can mine with their CPU. The reason is the ASIC resistant policy of the mining algorithm. A couple of trustworthy names such as Bruce Fenton and Tron Black support it.
RVN Price Prediction 2021
RVN price prediction 2021, similar to the other altcoins, is tailored to bitcoin’s price action. If bitcoin gets on one more bull move, RVN can anticipate one as well. Bitcoin normally experiences a cool-off stage next to its mega bullshots. And that is the time that altcoins conquest and grow, often doubling or tripling their price within days. This fact does not only include the RVN price.
As the pandemic breakout, the economy has been concussed for a few months. َAnd it affected depressingly the cryptocurrency industry, sending bitcoin downward as we observed to even 40% daily losses. Nonetheless, this condition swiftly becomes stable and bitcoin as the leader took the crypto market back up. We are in a chief bull run since the summer. And, if we count the social media and journalistic analytics, its local zenith is far away to occur.
More about RVN Price Prediction 2021
As long as BTC is in the key role and running upwards, there is tiny room for RVN price to polish. RVN price has also increased thanks to the overall growth in crypto prices. Nevertheless, RVN to BTC relation will perhaps drop, probably to all-time lows. This reveals that it is finest to preserve your funds in BTC until it touches its peak, providing the opportunity for the altcoin to enter the scene. RVN price prediction in 2021, however, will NOT be between the topmost nominees to experience giant gains, as the money typically flows from BTC profits to bluechip altcoins and large-cap coins before dripping down to the less popular and smaller projects.
RVN price will combat to regain on track as the project appears to have missed its momentum since 2018. It is still a concrete project although the price action left a lot to be looked for and speculative potential is almost non-existent meaning that RVN price is not nice-looking for short-term speculators.
RVN Price Prediction 2021
RVN-BTC Price Correlation
The immense mainstream of trading in the crypto markets is among BTC and altcoin pairs. As merely a few altcoins are paired with stable coins like USD and many do not pair with fiat currencies, Bitcoin is the next best choice. Thus, while Bitcoin is steady, it plays the role of an ideal base currency for buying altcoins. That is why altcoins perform better when Bitcoin goes sideways.
This relationship is measured on a scale from -1 to 1. A ratio above 0 displays the degree to which RVN price is stirring in the equal direction as BTC prices, and a ratio beneath 0 shows the degree to which RVN price moves in the reverse direction of BTC price; so, when BTC drops, RVN grows, or vice versa. Values about 0 demonstrate that as BTC price moves, altcoins stay stable, or otherwise that while RVN price goes up or down that the BTC price is staying stable.
Based on the correlation analysis, BTC and RVN prices have a robust positive association. The correlation amount of these two is 0.52. It was measured based on the prior 100-days price dynamics of both assets.
Generally, any altcoin price alteration is clarified by the dynamics of the bitcoin-influenced market. Though there are also other essential reasons for the rise and fall of an individual token price, that can be pinned down to a great tech upgrade or more frequently, giant partnerships.
Most projects fail to execute well in the market. Some startups only forme to gather funds and vanish, some would not tolerate the rivalry pressure. However, most are solely ideas that look worthy on paper, but in reality, are impractical for the market.
Vitalik Buterin, co-founder of Ethereum said:
“There are certain noble ideas, there are so many adverse ideas, and there are a lot of very, very bad ideas, and quite a few scams as well”
What is the Ravencoin (RVN) Future Outlook
In the crypto market, not all projects have the same chance of failing and risk. Nor do they have the same potential upside and reward.
As a consequence of ICO teams’ ineffectiveness and absence of integrity, fueled by the natural human instinct of greed and crypto investors’ innocence, over 95% of fruitful ICOs and crypto projects will fail and their investors will lose money. The other 5% of projects will turn into the new Apple, Google, or Alibaba in the crypto world. Will RVN be among that 5%?
RVN potential is based on the use case as a network for assets in a market that is moving to a tokenized model. It is estimated to be a 10-40 trillion dollar market space in the top 5-10 level. If it grows to that stage, even with the rest of the market in depression, you are looking for dollars, not cents. If RVN price accomplishes a segment of a percent of such marketplace, then it is dollars, not cents.
This is the killer app of Blockchain, this will take time and effort to progress, but if raven grasps anywhere close to its potential to this stage it will be a great jump in RVN price.
Ravencoin (RVN) Future
Why will Ravencoin fail?
Regardless of the project’s strength, there will constantly be nonbelievers and those who ask is Ravencoin dead and why will it fail. We mention here Some of the price discouraging factors you need to consider before buying RVN.
The most current bull path still keeps RVN holders in the bull excitement and they start dreaming about certain idealistic price levels, like achieving the $1 amount. The RVN price inflation is enormous, 7.2 million new coins go in the circulation flow every day weakening the worth of the existing assets. Its present available supply is 2.2 billion, so there are many coins to pass in circulation before getting to 21 billion overall supply.
The Supply/Demand correlation is a modest economic aspect that affects the value of an asset. Provided that a cryptocurrency network has an unlimited or high token supply with tiny demand from traders and users, then the cryptocurrency’s worth will descent. Conversely, if the supply of crypto will restrict and the demand will be high, then the coin value will surge. Raven coin supply is not massive at the moment but keeps rising at a large ratio. This is negative, descendant pressure on the RVN price.
This dynamic is related to another basic economic standard, called scarcity. Scarcity refers to the gap among limited – that is, scarce – resources and hypothetically boundless wants. With 21 billion tokens, RVN is anything but scarce, at least for the existing level of its adoption.
Why will Ravencoin succeed?
Hence, why will the RVN price rise? There are so many probable price catalysts, and some of them are as below.
The rising price pressure will use with the adoption as every new asset formation event burns 500 RVN, relieving the inflation and letting down the coin supply. The more users on the Ravencoin platform, the better for its price.
Ravencoin has a large corporation supporting it – Overstock is one of the major investors in the project. Also, Medici Ventures is a large fund that is a public and open enthusiast of Ravencoin that already utilized RVN to create a $3.6 million security transfer above the RVN blockchain.
Another positive price feature will also adoption-relate. If a firm chooses to put its stakes on the Raven blockchain and pay dividends to token holders, RVN must pay them. This demonstrates that once a quarter/year (however Agreement) they will need to gain sufficient RVN to pay out as dividends.
All of this points to the fact that Ravencoin has a concrete team behindhand the project that has a truly sharp foothill ahead of itself which needs to be overtaken. Holding RVN in 2020 and beyond is high jeopardy but an even greater reward condition. Thus, if you are a risk-taker and your taste is investing in profile mixes well with this kind of coin, Ravencoin, and your portfolio will be appropriate such as glove covering a hand.
To sum up, Ravencoin may live through a couple of harmonies. And, for a regular trader, absolutely erratic pumps. But most of the time will be misty sideways trading with minor volume and no substantial interest from the market.
The RVN Price will seriously depend on what BTC movements and meanwhile many analysts believe that BTC will not be having large moves in the current year, it is hard to assume Ravencoin will have them either. The RVN price will possibly stagnate and record sluggish devaluation or increase which is tailored to the team performance, probable technological development, or high-level partnership.
RVN Price prediction in 2023 and 2025
The crypto market is entirely unpredictable. So predicting the cryptocurrency value is more like a gamble and luck instead of a data-focused guess.
It is now better to have a forecast of RVN prices in upcoming years. It will give us a clearer perspective of more logical investing in this coin.
Provided that Ravencoin persists to be alive to see 2023, which is more probable than not, the RVN price would certainly be at 10-100x of the current value. Also, should RVN endure to see 2025, the RVN price would confidently be at 100x+ of the current value.
Foretelling prices of innovative, extremely unstable, and risky asset classes is a difficult assignment – the best answer would be no one knows. Educated speculation is that the realistic RVN price for the predictable forthcoming is somewhere around its current price.
RVN price prediction 2021 – Conclusion
We do not yet recognize for sure which cryptocurrencies will shine out of the crypto market. There are a lot of coins that are potential for the chance of surviving in the crypto rivalry. They may become more appropriate as the market agreements vanish certain weaker projects. Nonetheless, there are even many of those dead projects but no one observed yet.
Viewing elements from this point in time and place, Ravencoin had its five minutes of glory. It founded dense basics and larger markets determining the project. It is now time for Ravencoin to accelerate and continue to deliver treasured accomplishments to validate the very high expectations investors pinned onto it.