In this article will make a price forecast for Raven Coin for 2022. We will also run down what Raven Coin is and how it has performed since its inception, so that we get a clearer overview of the reasoning for the price prediction.
Note that this is not a substitute for professional financial advice. You are advised to use your own discretion to make decisions as crypto-currency may sometimes be highly volatile.
With that being said let’s get into the main issue by first answering a few fundamental questions regarding Raven Coin (RVN).
What is Raven Coin in a nutshell?
Ravencoin is a Proof-of-Work blockchain that emerged from Bitcoin in 2018 to facilitate issuance of tokens. Its name is inspired by the widely viewed fiction series Game of Thrones. Although it has been around since 2018, attention on it accelerated very much within 2021.
Thus many prospecting Crypto investors are looking to predict where it is headed for 2021.
Ravencoin founders describe it as, “A digital peer-to-peer network for the facilitation of asset transfers”. It’s an open source fork of the Bitcoin code offering more efficient block reward times. The coin also focuses its core values on resistance to censorship, privacy and transparency.
Whilst the coin emerged from the Bitcoin codebase it uses a X16R mining algorithm to keep the network secure.
Now there is broader information on how it works, but we promised to package it in a nutshell. In the next segment, we are going to discuss briefly what determines the price of any crypto-currency. This is very important before we go anywhere else.
What determines the price of any crypto-currency or token?
The principles of economics very much apply to crypto-currency. In economic price is determined by demand and supply. Also with currencies what tends to happen is the network effect also comes into play. People would obviously want a currency that has a bigger ecosystem of buying and selling, again we see the same thing with fiat currencies.
So in general price is dictated by the relationship between supply and demand that’s why a lot of crypto-currencies including Raven Coin have limit of supply. Raven coin has a supply limit of 21 billion coins.
Usually the trend is that overbought coins are in high demand, hence they have a bigger ecosystem making them more expensive. New coins that have not gained a large network effect are in high supply and thus have lower prices.
Now with that being said, a lot of people are angry at themselves for not jumping onto Bitcoin when it was young and easier to mine. That’s why we’d obviously be interested in prospecting new coins such as Raven Coin.
Given that we have mentioned that the price of coins relies on how many people have adopted them and the size of the ecosystem. At the time of writing this article there had been over 7million Raven coins mined out of the 21 Billion tokens available. So there clearly has been mass adoption of the coin.
What can Raven Coin be used for?
Ravencoin is designed in a manner that makes it usable on the stock market. A corporation can issue shares of its stock by creating an asset on the Ravencoin network.
This creates for them the ability to fundraise for the business by selling shares. They can also use the Ravencoin Network to pay dividends to shareholders, hold polls on subjective issues, communicate with share holders, and comply with government regulation.
In the current model of stock markets all the above attract expensive ongoing costs. Blockchain technologies are also almost immediate in implementing decisions, more secure and efficient. As we have seen through history, as humans we are fallible and can be coerced with financial incentives to further self interest and preservation.
Raven Coin can also be used for NFTs and trading of assets. The Raven Coin wiki has over 20 companies using the coin already. https://raven.wiki/w/Ravencoin_Wiki
What Happened to the Price of Ravencoin in the Past?
Be aware that all Ravencoin are generated by artificial intelligence and as such they should be taken with a pinch of salt as AI cannot predict world events. The artificial intelligence and machine learning systems usually rely on the ARIMA model to arrive at speculations.
For the most part they give precise feedback. ARIMA is an abbreviation for “Auto Regressive Integrated Moving Average” . It uses past values per time series to predict future values. It may also make comparisons with other crypto-currencies or tokens regarded as being in the same category.
Thus the A.I using this model assumes that previous values of a crypto-currency influence future values. As aforementioned, it is too idealistic as certain world events, political policy changing, regulation and so forth are variables it is unlikely to predict.
What is Our Prediction of Ravencoin Price in 2022?
What are the experts and firms saying about Ravencoin Price Prediction in 2022?
In this section we will cite a few opinions from notable experts, however just as we advised with the AI driven predictions, human experts are fallible as well or may have other interests. So anything cited here should not be taken as absolute truth but is cited for your consideration as you prepare to make your own decision.
Wallet investor a platform that publishes crypto currency market cap statistics and price changes sometimes by use of Machine Learning (AI) says that it has a long term forecast of 38 cents per Ravencoin although it could take up to 2028 to get there.
Capital.com says their prediction is that Ravencoin will be 95cents by 2028. The site is a global Forex and CFD broker which helps clients with trading in CFDs and other derivatives on Forex pairs, stocks, commodities, and numerous other indices. They have in recent years taken an interest in Crypto.
Patrick Byrne, Overstock CEO
Patrick says he sees enormous potential in Ravencoin potential and thus recommends it as something worth getting behind. The Overstock CEO has already invested a sizable amount of his own money in supporting Ravencoin. He is confident that Ravencoin will rise in value in the future.
Every investment is about chance to a certain degree though it is wise to do the market analysis before jumping into it. When investing in crypto you have to be willing to carry the consequences of the wins and losses that may result from it.
Ultimately the best way forward is not just to plunge into the market based on what’s trending but a deeper study on each coin and its alternatives will increase chances of getting desired outcomes.
Please feel free to share this post with others and share ideas.
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Haley Hayward is an experienced writer at gblogo.com, where she’s credited with more than 200 articles covering everything from entrepreneurial stories to mental health at work.
She also oversees the Comment&Questions, which poses important admission questions to experts in the field, and regularly hosts webinars on various aspects of the business school experience.
Prior to joining gblogo.com, Haley honed her skills as a freelance writer, tackling a wide array of topics from petcare to car maintenance.
Haley holds a Master’s degree in English Literature from the University of Edinburgh, Scotland.