Ravencoin quick analysis before the halving and Bullrun in 2022 onwards
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Three months ago I’ve stated that crypto currency will enter the bear market territory. You can check out the post here: https://www.reddit.com/r/Ravencoin/comments/pm52kl/bear_market_is_officially_here_rvn_bull_run_jan/ This little positive POW migration after the ETH Burn indicated one thing and that is the correlation with Bitcoin can be broken (We have to break from Bitcoin in terms of price and allow fair price discovery). I love bear markets so much because it flushes out bad coins. 1- The Halving Scenarios: If you’re mining RVN coin direct from KawPow pools then you’re profitability is now 50% less. Now for the guy who’s mining BTC/ETH and buying RVN or has lots of Fiat won’t be affected. However, the sellers can’t meet the demand at the same rate for: · Coin Swappers · Exchanges · Traders · Investors In order to meet the demand, the sellers will raise the price until it reaches a fair value for everyone. It’s very difficult to predict but think about it this way, that if you buy 5000RVN monthly for fiat, I don’t think the seller will agree to sell you the same amount monthly if he’s making 2500RVN coins. So what happens: · Either he can sell you the same amount for Double the price (2X) · You get the same amount but after a longer period (2 months) Since this is non perishable tokens, at worst case scenario with no price increase! The miners can accumulate RVN coins with ease if the difficulty is low. But it’s very hard to predict anything at this point, that is why I can’t wait for Jan 2022! However, I included some analysis on price action. 2- 2017-2018 Bitcoin Bubble. On Dec 6th 2017 President trump has announced that Jerusalem is the eternal capital of Israel, on that day Bitcoin started to surge hard and reached almost $20,000 in Jan of 2018. The crash was 78% from the Jan 2018 highs in October. BTC fell below $100bn in market cap. The bitcoin capitalists except very few never mention anything about good POW projects, because they are busy trying to raise the next $1 trillion dollars to raise Bitcoin to 150K. At this point bitcoin is a token for the rich. https://en.wikipedia.org/wiki/Cryptocurrency_bubble 3- RVN is listed as a “Meme” coin instead of Web 3.0 with a credit rating of “B” Not so sure on why this Chinese/Japanese rating agency has listed Ravencoin as a “Meme” coin instead of Web 3! If you go to coinmarketcap.com and hit ratings, it will reroute you to this: https://tokeninsight.com/cryptocurrencies/Memes?tag=476 4- Ravencoin short position reversal before the halving: The thing I would like to know is how big the short position is open from the Jan 2021 between 28-22 cents and below. If new traders add buy pressure, this will force small short positions to close reaching to the medium and large positions as RVN price surges upward. 5- The 30 cent Raven price is critical At 30 cents, Raven has already caused buys to close short positions, and then new buying wave will start by both Bears and Bulls which might take the coin to new ATH! 6- The "Trough" Area This area is where buyers come to buy and short sellers start to close their short positions and make a reversal. We’ve been stuck in this area for a month now which indicates that there will be a positive movement to the upside soon (Or another 1cent drop if the bears are brave enough to short more Ravencoins) Those are my quick analysis on Ravencoin and we will get to $1 and above for now!! submitted by /u/Cultural_Traffic_321 |
