Is RavenCoin (RVN) worth the investment?

Ahead of its halving in January, peer to look blockchain Ravencoin (RVN) surged 50% over the Christmas amount to $0.1171 before falling back slightly below $0.1 these days (30 December) Ravencoin has been insulating material behind the broader cryptocurrency market. Since its November high the token has fallen over 35% at the time of writing (30 December) whereveras the capitalization of the complete crypto market has fallen solely 18% therein time, perinformation from CoinMarketCap.

Its market capitalisation of $1.01bn ranks it because the 93rd biggest. However, that doesn’tessentially mean that there’s no investment potential. As Associate in Nursingrecentproverbwithin thecommercialism and investment world goes: “when in doubt, zoom out.” the worth has up an dazzling 645% since the beginning of 2021. Recent short-runwe tend toakness won’t be a reason to overlook investing in Ravencoin. be a part of us in the following RVN crypto price prediction. We’ll assess Ravencoin’s potential and growth prospects as we enter the last month of what has been an incredible year for this token.

What is Ravencoin (RVN)?

Developed by 430 Bitcoin developers, the blockchain launched in Apr 2018. per the project’s whitepaper, Ravencoin could be a blockchain-based protocol that enables developers and users to make tokens for nearly any quality they like. These tokens will then be transferred to 3rd parties by victimisation the Ravencoin network, that is a fork of Bitcoin’s original code. Among alternative things, the project changes the quantity of coins issued from twenty one million to 21 billion, whereas reducing the time that it takes for a block reward to be mined. The Ravencoin project retains a number of Bitcoin’s features, together with periodical halvings and a network running on the proof-of-work (PoW) protocol. Through Ravencoin, developers will produce tradable tokens that track the worth of off-chain assets like gold, silver, euros and collectibles. These tokens may doubtless facilitate and cut backthe value of commercialism these assets. nearly something that incorporates a value will reborn-again into a token on the Ravencoin blockchain. It’s the project’s core value proposition.

Ravencoin news

The reason why Ravencoin’s price began to jump in Gregorian calendar month was the decision created by multiple ancient brokerage firms to briefly halt commercialism activity in bound stocks throughout the short-squeezing frenzy, together with GameStop (GME) and AMC diversion (AMC) Traders might need felt that the Ravencoin cryptocurrency may play a key role in reshaping the trade to avoid practices that prevented retail traders from exchanging their holdings in these companies whereas institutional investors were ready to do so. the worth emotional from $0.03 a coin on five Gregorian calendar month to $0.2888 by twenty February – a 862% gain in lower than a month. The tokenisation of assets through Ravencoin may have allowed traders to exchange their investments through the blockchain. however there’s no proof that the trade is getting that direction. produce a commercialism account in lower than three min produce account this could be one reason why the worth declined from that peak to as very little as $0.13 by the tip February. Traders were forced to revise any Ravencoin (RVN/USD) forecast to include a situation within which the community the blockchain to trade stocks. Meanwhile, the robust rebound that bitcoin (BTC) knowledgeable about back in July following broader market weakness caused by news from China revived the RVN price action. But, the boost didn’t last long. the worth fell till it reached daily lows of around $0.09 a coin. Similar of strength that Bitcoin is presently experiencing.

Ravencoin technical analysis

Fast-forwarding to now, and therefore the RVN crypto has failed to post a better high since the January-February meme-rally peak of $0.28 a coin. This prolonged weakness could be aissueto stay in mind. In early October, the worth has announce what appeared to be a double bottom formation, known at the $0.085 level, however has not broken on top of its short-run moving averages simply yet. At the time of writing (30 December) the relative strength index (RSI) has up to 54.96, whereas the moving average convergence divergence (MACD) is firmly neutral per CoinCodex. The sentiment is pessimistic with ten technical analysis indicators offereing optimistic signals, and seventeen with bearish signals.

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Ravencoin (RVN) price prediction

Oh yes, this is no doubet the big question we all have. All things considered, the potential outlook for the RVN coin is bearish, unless each the edge of the consolidation parallelogram shown within the chart (above) is broken. Such a move maylead toan openingon top of RVN’s short-run moving averages and will justify a positive outlook for Ravencoin’s future price. That said, more rejections of thosenecessary thresholds might cause more draw back for Ravencoin, despite recent strength in the cryptocurrency market. it’s important to notice that Ravencoin are undergoing its 1st halving event on twenty two January, 2022 once block variety 2,100,000 is minted. As a result, rewards per block arelowered from 5,000 to 2,500 RVN tokens, doubtless reducing future token inflation for Ravencoin. Halving events are thought-aboutoptimistic moves for cryptocurrencies, however the extent to thatthey willhave an effect onthe worth depends on overall demand and therefore the rate at which the network is adopted by those seeking to tokenise off-chain securities among alternative factors.

Conclusion

After a rather stalled 2021, Is Ravencoin an awesome funding In 2022? It depends. Trends are looking rather promising and 2022 could be the beginning of the breakout for RVN. foundation is most likely to manifest this year and it is able to take place in 2025, or as far out as 2030.

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