Bitcoin
BTC$19 241.67

-5.61%

Ethereum
ETH$1 059.15

-3.18%

Tether
USDT$0.998955

0%

USD Coin
USDC$1.000391

-0.02%

Binance Coin
BNB$215.34

-4.45%

Binance USD
BUSD$1.000088

0.10%

Ravencoin Price Forecast for November 2019


November 2019

Although many people are skeptical about altcoins, claiming that they are already past their prime and the long-awaited second alt season will never occur, the stats speak quite the opposite. There are plenty of cryptocurrencies from the Top 50 that had displayed incredible gains over the course of the current year, and even now, after the September market drop, possess enough potential for continuing growth in the next six months.

One of such cryptocurrencies is named Ravencoin (RVN), which emerged in 2018 as a hardfork of Bitcoin that runs a blockchain ecosystem for the peer-to-peer exchange of digital assets and their ownership rights. Ravencoin is viewed by many as a significant improvement to the Bitcoin and Ethereum blockchains since the nodes of the former are unable to recognize an asset that is integrated into its code, while the latter is incapable of identifying the tokens present in smart contracts, which could lead to all sorts of confusion.

Ravencoin resolves these issues by incorporating the X16R hashing, along with 16 different mining algorithms, which, besides enabling the users to send and receive digital assets, allow for improved censorship resistance and privacy. Many members of the crypto community regard Ravencoin as one of the most promising cryptocurrencies that surfaced in 2018. Such positive sentiments can be explained by the genuine applicability of this solution, as well as its powerful price movements, as seen on this all-time chart.

Ravencoin’s current standings


Right now, Ravencoin maintains a healthy position in the rankings, being placed at the 41st spot on Coinmarketcap. During the last few months, RVN has seen several price drops, from which the coin had recovered rather quickly and with good upward impulses to the area of $0.4, though, in general, the price is still consolidating with slight hints at the bearish trend.

The current market capitalization of Ravencoin amounts to $140 million, with only 4,8 billion RVN token being already in the circulation of the total supply of 21 billion.   

Although the difficulty of RVN mining increases continuously, the inflation remains an issue since there are approximately 70 million new Ravencoins entering the circulation on a daily basis, hampering the demand for RVN and diluting its value. But this also means that Ravecoin could still be undervalued, even though it showed massive gains of 121.3% on the year-to-date chart, which is only slightly lower than Bitcoin’s 145%.

RVN at the tail end of 2019 and going forward


Ravencoin is currently is the phase of lingering correction after hitting the all-time high of $0,08 on June 3. Whether or not the price of RVN will go deeper than the established support of $0,028 depends on the overall market conditions. Nevertheless, Ravencoin has already proven to be quite resilient to market downfalls, so even if the drop happens, the coin is likely to recover promptly.

The majority of indicators show that the crypto market, along with Ravencoin, should continue moving sideways for the remainder of 2019, with possible 5% to 10% short-term moves in either direction. In 2020, we should expect the introduction of the Messaging and Voting features, which should reflect positively on the price of Ravencoin. Should the team resolve the inflation issue, the value of RVN could easily reach $1 even in Q1 of 2020.

Author: Alex Paulson for Crypto-Rating.com

Related

Ravencoin Price Prediction: Will RVN Go Up?
Ravencoin Price Prediction: Will RVN Go Up?
Ravencoin (RVN) Has a Lot of Catching Up to Do
Ravencoin (RVN) Has a Lot of Catching Up to Do
Ravencoin (RVN) Establishes a Comfortable Range
Ravencoin (RVN) Establishes a Comfortable Range
Ravencoin (RVN): Aiming High Against Bitcoin
Ravencoin (RVN): Aiming High Against Bitcoin
Ravencoin (RVN) is Flying High Right Now
Ravencoin (RVN) is Flying High Right Now

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 56.8% 93 $19 241.67 -5.61% -9.67% $367 181 795 784 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 58.4% 92 $1 059.15 -3.18% -13.28% $128 553 316 172 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 93.2% 1 $0.998955 0% -0.04% $66 163 024 576 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 93.2% 1 $1.000391 -0.02% 0.04% $55 824 445 752 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 60.8% 83 $215.34 -4.45% -10.63% $35 160 747 810 BNB 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 91.6% 1 $1.000088 0.10% 0.04% $17 548 760 052 BUSD 7 days price change
7 Cardano (ADA) ADA Cardano predictions 61.6% 77 $0.450635 -3.60% -10.37% $15 210 103 811 ADA 7 days price change
8 XRP (XRP) XRP XRP predictions 66.4% 69 $0.312867 -5.44% -15.56% $15 124 962 063 XRP 7 days price change
9 Solana (SOL) SOL Solana predictions 66% 76 $32.75 -6.27% -22.31% $11 242 411 042 SOL 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 65.6% 71 $0.067391 -0.30% -0.20% $8 940 786 353 DOGE 7 days price change
11 Dai (DAI) DAI Dai predictions 93.6% 1 $0.999784 -0.09% -0.03% $6 859 368 442 DAI 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 68.4% 67 $6.72 -5.60% -18.62% $6 637 336 409 DOT 7 days price change
13 TRON (TRX) TRX TRON predictions 58.8% 88 $0.065207 -0.60% -1.36% $6 030 956 222 TRX 7 days price change
14 UNUS SED LEO (LEO) LEO UNUS SED LEO predictions 69.6% 60 $5.77 -0.04% -1.82% $5 499 921 297 LEO 7 days price change
15 SHIBA INU (SHIB) SHIB SHIBA INU predictions 66.8% 66 $0.000010 -3.90% -8.85% $5 489 974 219 SHIB 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2022 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.