It is no longer a secret – investing in cryptocurrencies is a modest way to make a lot of money. Many people have become millionaires by investing in the right digital coins. It is not rocket science, but you need to know the right coin to buy and when to buy and sell it.
There are currently thousands of cryptocurrencies out there. Choosing one from the thousands can be really difficult, but it is important that you understand any coin you intend to invest in. Here, we are going to focus on Ravencoin and what it can do for you in ten years.
Will Ravencoin make me rich in ten years? This is a question many long-term cryptocurrency investors will ask before adding the coin to their portfolio. We will not give a one-sentence answer to this important question here. Rather, we will discuss the important things you need to know in order to make an informed decision about long-term Ravencoin investment.
It is important that you read every part of this post carefully as each part will contain critical information that will guide your decision. The goal is to provide you with adequate information to make a sound decision regarding the suitability of Ravencoin in your long-term cryptocurrency portfolio.
What Is Ravencoin?
Ravencoin is basically a cryptocurrency platform – much like Bitcoin, Ethereum, and the rest. It also has a digital currency – an altcoin that anyone can buy and sell from exchanges, brokerages, and other apps that supports cryptocurrency trading. Ravencoin is a unique cryptocurrency that you can add to your portfolio as a cryptocurrency trader/investor and make money.
We can also choose to define Ravencoin according to the project’s whitepaper. In that light, it is “a blockchain-based protocol that allows developers and users to create tokens for virtually any asset. In the light of the above, Ravencoin is a platform opened to developers and regular investors/traders to create projects and trade digital assets for profits.
Like most of the new cryptocurrency platforms out there, Ravencoin allows users to create and transfer digital assets from peer to peer. Depending on your reason for choosing the platform, there are lots of opportunities you can explore. It can be used for enterprise solutions or for personal investment purposes.
Ravencoin is one of the few cryptocurrencies that does not have a well-established team behind the scene. There is also no development foundation. Rather, it is run by a number of core developers, including Bruce Fenton of The Bitcoin Foundation. You should also know that Ravencoin is a hard-fork of the mother of all cryptocurrencies – Bitcoin. Ravencoin developers can also create tradeable tokens that can track the price of off-chain assets like euro, gold, silver, and collectables.
What we have above is just a summary of what Ravencoin represents and what you and other users can do with it. It is important to note at this juncture that the platform has a native cryptocurrency that trades under the symbol under the RVN ticker symbol. This is the digital asset you will get when you choose to invest in the platform as an individual investor/trader.
More About Ravencoin Token (RVN)
The Ravencoin token is just like other cryptocurrencies out there. You can buy, keep, and sell the asset at will. Many people make their money by buying and selling digital assets like Ravencoin, and there is always profit to be made if you pay close attention and learn how to trade strategically.
It is safe to safe that Ravencoin is a relatively new cryptocurrency. It was launched in 2018 but has achieved a lot in a short period. It is one of the coins that prioritize user control, privacy, and censorship resistance. It may not rank among the best privacy tokens like Monero, but it is an incredible asset by its own standards.
You need to remember that Ravencoin is like other cryptocurrencies in many regards. To invest as a regular trader/investor, you have to buy the tokens with either fiat currencies or other digital assets like Bitcoin, Ethereum, Ripple, Cardano, etc. It is available in exchanges, brokerages, and other apps.
Can Ravencoin Make You Rich?
The question above is common with every coin – people want to know if a particular cryptocurrency can make them rich. The truth is that any digital asset can make you rich, just as it can make others lose their money. Many people have made fortunes by trading Ravencoin and similar assets, but you need to be careful when and how you buy.
Ravencoin can actually make you rich, but you need to be sure that it is the right asset for your portfolio. It is also impossible to determine whether investing in Ravencoin is the right thing to do until you have a good look at its past, its presence, and its future.
Here, we will like to have a balanced view of the coin as an investment vehicle, so we are going to look at its price history, its recent performance and position in the cryptocurrency market, as well as predictions from the right sources.
Read More: Could Ravencoin Be A Millionaire-Maker Coin?
Ravencoin’s Price History
Ravencoin started trading in major exchanges and authority websites in 2018. Note that this was during a major crypto bubble, but the price was just a little over a penny. According to historical data from Coin Market Cap, the price as of March 15TH, 2018 was $0.02337. It gained significantly to reach $0.04203 by the end of March. By July 12th, it had dropped to about $0.01399.
A notable upswing saw Ravencoin trading for $0.0504 in October 2018. It dropped afterwards to about $0.0174 by the beginning of December. By the end of 2018, the coin traded for around $0.01384.
2019 was a decent year for Ravencoin. At the peak in June, the coin was trading for $0.073 per token. By the first week of August, it traded for $0.04252. The bearish market continued for the coin, and by the beginning of December, it was trading at $0.0253.
There was nothing spectacular about the price of Ravencoin in 2020. It opened the year at $0.02273 and struggled considerably in January. By mid-march, the price dropped significantly. In fact, it reached an all-time low of $0.008794 on March 13th. There was no significant change throughout the second quarter of the yea. By the end of August 2020, it was trading at about $0.02258. It dipped further and traded for $0.01277 by mid-November. Eventually, it closed the year at $0.01302.
In January 2021, Ravencoin didn’t make headlines. It started picking momentum in February, trading at $0.02467 on February 2nd. By February 13th, however, the coin had gained and was trading at $0.0578 per token. It reached an all-time high of $0.2854 on February 20th, 2010.
Ravencoin Recent Performance And Current Position
Ravencoin didn't perform badly in the months that followed. It dropped only a little after the February boom, and by the second week of April, it was trading around $0.1916. By the end of April, it was trading at around $0.164.
May was an interesting and busy month for Ravencoin (RVN). It started at around $0.1887, fluctuated significantly, but was still selling for $0.08129 by 28th May. It dropped significantly in June, reaching $0.06947 on June 12th. By the end of June, it was selling for $0.06564. In the last quarter of the year, its value increased above $0.11 but has since dropped due to the unpleasant market conditions.
At the time of writing this piece, Ravencoin was trading at $0.07839 per token. It had had a 24-hour low of $0.07258 and a 24-hour high of $0.07839. The 24-hour trading volume is $38,554,637. The market capitalization is $821,038,726, making it the #96 ranked cryptocurrency in the world. Its current circulating supply is 10.47 billion RVN, which is just about 50% of the maximum supply of 21 billion tokens. The total supply at the time is 10,473,290,000 RVN.
Ravencoin’s Price Prediction
Like other cryptocurrencies in its class, Ravencoin has seen many good days and bad days. After looking at the price history and recent performances, the next important thing is to consider its future. To do that, we will look at expert predictions from reliable sources.
Wallet Investors is one of the most reliable sites for crypto predictions and they believe the price of the coin will improve in the near future. Their recent prediction shows that Ravencoin can reach $0.168 in the next 12 months. They are also cautious about its long-term price, predicting that it will be worth around $0.472 in the next five years (2027).
Digital Coin Price is another interesting prediction site and they obviously believe in the long-term potentials of Ravencoin. Their recent prediction shows that the coin can be worth around $0.1061 by the end of the year. By next year (2023), they predict that Ravencoin will be worth around $0.1204. In five years’ time (2027), they predict that the coin will be worth around $0.2692. By 2029, they predict that the coin will be worth about $0.3485 and that the lowest price of the coin in future will be $0.3129.
Coin Quora is also positive about Ravencoin, they believe that the coin will trade from $0.2 to $0.37 in the near future.
Trading Beast is another prediction site we take seriously. Their updated predictions for Ravencoin are looking good. They predict that the coin will reach $0.1207 by the end of December 2022. They also predict that the coin will be worth as much as $0.1452 by the end of 2023. The prediction shows that Ravencoin will grow slowly but can be worth as much as $0.1883 by December 2025.
Check Out: Why Ravencoin Is Going To Explode
Where Will Ravencoin Be In the Next Ten Years?
It is very difficult to predict where a cryptocurrency will be in ten years’ time. However, it is possible to tell whether a coin will be good for long-term investment.
From all indications, Ravencoin can be a decent cryptocurrency for long-term investment. The coin has the potentials to reach new heights if the platform continues to grow. It may take a while to reach the $1 mark, but it looks certain to yield meaningful profit in the long run.
Pros Of Investing In Ravencoin
If you are considering investing in Ravencoin, then you are in good company. It may not be among the hottest digital assets at the moment, but there is a good chance that it will grow a lot bigger in the future and yield significant profit for investors. Here are the major pros of investing in RVN:
✅ It has a growing community that can help push adoption and improve the general outlook of the network and its coin (RVN).
✅ RVN is already a fully developed and functional blockchain, making it a less-risky investment platform.
✅ Ravencoin was started by visionaries and developed with securities regulatory compliance in mind.
✅ The price of Ravencoin is relatively cheap, meaning you can test the water with little capital before deciding whether it is the right asset for you.
Possible Cons Of Investing In Ravencoin
Though there are lots of reasons to believe that Ravencoin will succeed in the long run and yield significant profit, you need to tread cautiously while trading any cryptocurrency. Here are possible downsides of investing in the coin:
❌ It is a cryptocurrency, therefore, it is not immune to volatility.
❌ Ravencoin is a relatively new cryptocurrency and may take time to win the hearts of many.
❌ Ravencoin price is mostly based on speculations and future success will majorly depend on the performances of the projects in the network.
Should You Play The Long-Term Game With Ravencoin?
Are you are currently asking the question, “Will Ravencoin make me rich in ten years?” Then there are lots of considerations to make before investing your money.
From what we have discussed so far, Ravencoin seems like a decent investment option for long-term cryptocurrency investors. The coin has a strong and dependable platform and it has performed decently in the past. The predictions from expert experts are heart-warming too.
In spite of the many positive things we’ve discussed about Ravencoin, it is important to understand that ten years is a long time for cryptocurrency investment. There is a good chance that your Ravencoin investment will bring you significant profit in ten years, and there is a chance, too, that you can lose your money.
Investing in cryptocurrencies is risky, but those who have the stomach for it can reap bountiful results from it. If you feel you can wait patiently and endure the shock of losing, then Ravencoin can be a good long-term crypto investment option for you. But you don’t necessarily have to wait for ten years before cashing in if you notice that your investment has yielded significant profit.
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