Since about October 15, 2018, Ravencoin (RVN) has incredibly surged. Over the week, this cryptocurrency has increased by 350%. This could not last forever and as of October 23, 2018, a correction began. But what caused the pump? Will it continue when RVN gets cheaper?
First of all, we advise you to find out what Ravencoin (RVN) is and familiarize yourselves with the fundamental forecast of its price for 2018-2019.
The main reason for the rise in the coin price was the listing on the top Binance exchange. You might think that listing as a growth trigger can no longer be as powerful as it was before. You are partly right. However, pump depends not only on listing, but also on the coin that hit the exchange.
The fact is that Ravencoin is a very popular crypt for mining. Many miners of this coin preferred to keep and accumulate their savings on the wallets of exchanges supporting the coin. Before the listing on Binance, there were simply no really serious exchanges. It is logical that the start of trading on the top exchange with a high reputation has activated miners and other fans of this product. We believe that the growth was also spurred by Binance’s attitude to the coin, since it was listed without any fee. Hence many folks decided to get a good look at it.
Today, 90% of trading volumes are held at Binance. Volumes exceed the capitalization of the coin. Without listing there would be no growth.
The fact of the token appearance on the largest exchange opened the way for some speculations. First of all, we are talking about speculation on users’ expectations. On October 31, 2018 Ravencoin Mainnnet must be introduced. This is an important event for its entire ecosystem.
We can assume that until October 31, 2018, or even before the first days of November, we can expect a wave-like increase in the cryptocurrency price. Further correction is inevitable. To know more what comes next follow this link.
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