Ravencoin Predicted to Multiply 10+ Times in the Next Few Years
Ravencoin is a relatively new token which is a hard fork from Bitcoin. The name is inspired by the ravens in the fictitious world of Westeros from the Game of Thrones series and is just over a year old as it launched on the 3rd of January, 2018. However, in recent times, the coin has grown so much that it’s risen and made an entrance into the list of the top 50 coins, ranked by market capitalization.
Ravencoin is officially described as “a digital peer-to-peer network for the facilitation of asset transfers.” The coin is open source, promises much quicker block reward times and is “designed to carry statements of truth about who owns what assets.” Apart from helping to specifically authenticate rightful ownership of assets, Ravencoin also seeks to complete transactions in the shortest possible time without any encumbrances. It is a decentralized platform and has no master nodes.
The fact that it isn’t backed by an ICO and has no one with an unfair majority of coins helps it achieve a higher level of decentralization. Furthermore, anyone is allowed to mine RVN because it has ASIC resistant design.
Otherwise known as dividends, rewards offer a method of sending RVN to owners calculated based on the percentage owned. Users who made special efforts towards the fruition of a collaborative effort, users who are shareholders and also members will be recipients of rewards. All these rewards will be pain with RVN.
Interplanetary File System (IPFS)
Ravencoin (RVN) employs the use of IPFS to provide certain meta-data but also for messaging. Message details are always kept on IPFS and this makes it mandatory for Ravencoin to network with the system because it’s the only way to show messages.
Possible 2019 Price Forecast for Ravencoin (RVN)
There are many altcoins whose fates are currently tied to that of Bitcoin. This means that if Bitcoin experiences another surge, all other altcoins including RVN, should probably expect one also. This however, means that if there is a drop in price, the same might happen. Currently, another surge might be improbable, which would mean that the price of RVN might not change anytime soon. Regardless of all this, it is still very possible that prices of altcoins rise or drop, without having any direct correlation with Bitcoin.
There have been quite a few predictions for the future of RVN. For example, Wallet Investor which is a website that runs predictions based on analysis has predicted a fair price for RVN even though it hasn’t been very optimistic about other coins. According to them, Ravencoin may not drop below $0.05 at the end of the year.
Trading Beasts on the other hand, is not on the same wavelength with Wallet Investor. Trading Beasts believes that many tokens will experience increase but RVN could drop to $0.04 before the end of the year and would drop further, as much as 20%, by next year.
CryptoGround makes predictions with a specific algorithm that has Ravencoin increasing up to $0.07 before the year’s end.
Digitalcoinprice however has its predictions saying that by the end of 2019, RVN would get as high as $0.12.
Price Predictions for 2020 and Beyond
Based on many predictions, RVN could climb more than ten times its present value to reach $0.50 by 2020. For 2023, a $5 per coin price is predicted.
It is generally extremely difficult to properly predict the future of all cryptocurrencies because they are extremely unstable and untrustworthy. However, we may be able to conclude that Ravencoin will not do badly in the next few years.