Raven Coin: A Smart Investment Choice?

Ravencoin is a fork of the Bitcoin blockchain, allowing users to create and transfer tokens. Launched in 2018, it has since seen large price fluctuations, with an all-time high of $0.2854 in February 2021. As of August 2024, it is ranked 170th in the cryptocurrency market, with a price of $0.02536. So, is Ravencoin a good investment? Well, it's complicated. Cryptocurrencies are volatile, and it's hard to estimate their value. While some sources suggest that Ravencoin could be a profitable investment, others urge caution, recommending that investors only risk money they can afford to lose.

Ravencoin's price history and future predictions

Ravencoin (RVN) is a fork of the Bitcoin blockchain, allowing users to create and transfer tokens. It was launched in April 2018 and has had a volatile price history.

Price History

Ravencoin's price has fluctuated since its launch. It began trading at $0.027857 in March 2018, with several spikes that saw the price jump to $0.054 and then $0.055. However, it failed to sustain these highs and dropped to around $0.014 by the end of 2018.

In 2019, it initially traded at similar levels but then rose rapidly, reaching $0.07162 in June before dropping back down to $0.023 by the end of the year. 2020 was a less volatile year, with minimal price movements and the coin ending the year at around $0.02.

The start of 2021 was quiet until February, when Ravencoin's price began to rise parabolically, reaching its all-time high of $0.2854 on 20 February 2021. However, this high was short-lived, and the price soon began to drop. By the end of February 2021, it was trading at $0.1400, and this decline continued into early April, with the price dropping below $0.1800.

The price rose again in mid-April 2021, reaching $0.2359, but this was followed by one of the coin's biggest price declines. By mid-July 2021, the price had plummeted to $0.0500, and the coin finished the year at $0.098, having dropped further due to the market decline in December.

Future Predictions

While it is challenging to predict the volatile cryptocurrency market, several sources offer future price predictions for Ravencoin.

• According to WalletInvestor.com, Ravencoin is expected to rise to $0.16 in 2022 and soar to $0.55 by December 2025.
• CoinLiker predicts that the RVN coin price will trade at $0.33 in 2023 and $0.42 in 2025.
• CoinCodex suggests the coin could climb to $0.0194 by 21 January 2023, but it also states that the general sentiment is bearish, with 23 technical analysis indicators signalling bearish signals.
• CaptainAltCoin predicts a rather downbeat RVN price forecast, suggesting the coin could drop to $0.0134 by March 2023 and only recover to $0.0772 by 2030.
• PricePrediction has a more optimistic outlook, with a possible average price of $0.030 in 2023 and $0.044 in 2024, potentially reaching $0.42 by 2030.
• Trading Education's Ravencoin price prediction for 2024 is that the price might reach $0.45 by the end of the year, with a predicted high of around $0.46 and a low of $1.
• Digital Coin Price predicts that Ravencoin 2027 Price Prediction will double in price, but it may not reach its expected maximum of $0.11.
• Coinpedia predicts that Ravencoin's price will rally towards $0.36089 by 2024.
• GOV Capital's RVN price prediction for the next five years is $0.358, indicating good long-term investment potential.
• SwapSpace predicts turbulent times for Ravencoin in 2025, with prices ranging from $0.00465 to $0.0622.
• Changelly predicts that, in 2025, the minimum price of Ravencoin will be around $0.0460, with a maximum of $0.0533 and an average trading price of $0.0476.
• Cryptonewsz's RVN price prediction for 2024 is that the token will reach $0.0472 by the end of the year, with a minimum price of $0.0499 and a maximum of $0.0718 in 2025. They also predict that the coin will have a maximum price of $0.233 by 2030.

In summary, while Ravencoin has had a volatile price history, several sources predict potential price increases in the future, making it a possible good investment. However, it is important to remember that cryptocurrency markets are extremely volatile, and past performance does not guarantee future results.

How Ravencoin compares to Bitcoin

Ravencoin and Bitcoin are both proof-of-work networks, but Ravencoin is designed to handle transactions faster than Bitcoin. Ravencoin's block time is one new block per minute, compared to Bitcoin's one new block every ten minutes. In theory, this means Ravencoin can process a much higher volume of transactions per day than Bitcoin. However, this has not been tested yet, as Ravencoin's average block sizes do not currently reach their full capacity.

Ravencoin is more user-friendly than Bitcoin and is designed to be used by major institutions. It is also designed to mint assets by burning RVN to a specific address, allowing users to name and register those assets on the network. Bitcoin, on the other hand, was created to be a means of exchange and is now used as a store of value, a speculative asset, and a way to tokenize and transfer assets. However, tokenizing assets with Bitcoin is expensive, resource-heavy, and potentially unsafe.

Ravencoin's current block size limit is 2 MB, double that of Bitcoin. Ravencoin's developers have stated that they would probably increase block size to scale if necessary, whereas Bitcoin's developers are protective of the 1-MB block size limit.

Ravencoin uses a unique ASIC-resistant algorithm called X16R, whereas Bitcoin uses the SHA-256 algorithm. There is now a lot of ASIC hardware capable of mining on the SHA-256 algorithm, allowing major mining operations and mining pools to corner most of the hashpower. This has led to the rise of regional Bitcoin mining hubs such as those in China, where over 65% of Bitcoin's hash rate comes from.

Ravencoin's current block reward is 5,000 RVN, compared to 12.5 BTC for Bitcoin. Given the same electricity costs, Ravencoin becomes profitable to mine at around 150 MH/s, while Bitcoin becomes profitable at around 125 TH/s. This means that Ravencoin gives miners a greater incentive to mine it rather than Bitcoin.

The team behind Ravencoin

The Ravencoin crypto project was launched in 2018 by a trio of co-founders: Bruce Fenton, Joel Weight, and Tron Black. All three had extensive experience in business and software development prior to this project. Fenton, for instance, was already a familiar figure in crypto circles, having been a board member and executive director of the Bitcoin Foundation. He also had an impressive career in investment banking, dating back to the nineties when he was vice president of Morgan Stanley. Weight is the chief technology officer at Overstock.com, the parent company of Medici Ventures, which launched the Ravencoin blockchain. He previously served as the chief operating officer and chief technology officer at Medici Ventures and is a software developer. Black has led several software development companies as CEO and has worked on numerous crypto ventures since 2013, including as co-founder of CoinCPA and Verified Wallet, and senior software developer at t0.com. He was the principal software developer at Medici Ventures when Ravencoin was developed and is currently the president of the Ravencoin Foundation, which was established in 2020 as a non-profit to assist and protect the Ravencoin project.

How to invest in Ravencoin

Step 1: Research Ravencoin

Before investing in any cryptocurrency, it is essential to conduct thorough research to understand the risks and potential benefits. Ravencoin (RVN) is a fork of the Bitcoin (BTC) network, designed to aid the development and transfer of digital assets between two parties. It offers lower costs and faster speeds than Ethereum, and its price has been predicted to increase in the future. However, it is important to remember that historical performance does not guarantee future earnings potential.

Step 2: Choose an Exchange

Ravencoin can be purchased on various cryptocurrency exchanges, including Binance, Huobi Global, OKX, ZG.com, and VCC Exchange. Binance is currently the most popular exchange for RVN, offering fiat currency exchange and credit card purchases. Other options include KuCoin, Bybit, gate.io, and Binance Futures. It is important to research the different exchanges and their reviews before making a choice.

Step 3: Fund Your Account

Once you have chosen an exchange, you will need to fund your account. This can be done by linking a bank account, using a credit or debit card, or depositing other cryptocurrencies. Some exchanges may offer instant verification, allowing you to purchase crypto and have it in your wallet in just a few minutes.

Step 4: Place a Buy Order

After funding your account, you can place a buy order for Ravencoin. The RVN/USDT pair on Binance Futures is the most popular trading pair for RVN, but it can also be traded against other fiat currencies and stablecoins.

Step 5: Store Your Ravencoin in a Secure Wallet

Finally, it is important to store your Ravencoin in a secure wallet to protect your investment. You can use a software wallet, such as a mobile or desktop wallet, or a hardware wallet, which is considered more secure for long-term storage.

Remember, investing in cryptocurrencies carries inherent risks, and it is important to do your own research and invest only what you can afford to lose.

The risks of investing in Ravencoin

Investing in cryptocurrencies is a highly volatile endeavour. Ravencoin, in particular, has experienced huge price fluctuations since its launch in 2018. The coin is currently trading at a low of $0.02525 and is down 91.12% from its all-time high of $0.2854 in February 2021. While it has been predicted that Ravencoin will increase in value in the coming years, these predictions are highly speculative and often wrong.

One of the biggest risks of investing in Ravencoin is the highly volatile and unpredictable nature of the cryptocurrency market. Prices can fluctuate widely, and it is difficult to accurately predict what a coin's price will be in a few hours, let alone in the long term. As such, analysts and algorithm-based forecasters often get their predictions wrong. Therefore, it is crucial for investors to do their own research and never invest more money than they can afford to lose.

Another risk to consider is the limited adoption of Ravencoin. While it has been predicted that Ravencoin will gain wider adoption in the future, there is no guarantee that this will happen. Additionally, Ravencoin faces competition from other platforms that allow the tokenisation of assets, such as Tezos and CommerceBlock. If Ravencoin fails to achieve widespread adoption, its price may continue to decline.

The performance of the crypto market as a whole can also impact the price of Ravencoin. If the crypto market enters a bear market or experiences a crash, the price of Ravencoin is likely to be affected. This was evident in the recent FTX exchange collapse, which sent the price of Ravencoin down to $0.01906 in November 2022.

Furthermore, the success of Ravencoin is closely tied to its ability to facilitate the tokenisation of real-world assets and their transfer between parties. If the industry fails to move in this direction or Ravencoin is unable to capitalise on this opportunity, its price may suffer.

Lastly, the regulatory landscape for cryptocurrencies is constantly evolving, and government regulation and legal issues could pose significant risks to Ravencoin and other cryptocurrencies. Investors should carefully consider these risks before deciding to invest.

Frequently asked questions