Iowaska
Short

RVNBTC - The Skyhighatrict's Hangover

BITTREX:RVNBTC   RavenCoin / Bitcoin
Like most crypto currency Bitcoin's price movements are a massive component of what has been driving the Ravencoin price. However Ravencoin has shown instances and some periods when it chooses to do its own thing. Considering the massive rise from the 300sats range to the 1500sats range and no high volume house hold name using the network, this will be in the hands of niche crypto traders until that reality comes to fruition.

Over the coming months I am predicting that RVN will re visit levels of 600sats - 1000sats with some lower lows of sub 600sats regardless of GBP price. Anything in the buy zone (indicated on chart) is a massive opportunity to become a bigger bag holder for long term capital gains. I'm beginning to feel that "Tree Fiddy" is long gone.

Comment: Based on experience, I predict the price will come down to the range mentioned in the comment section above. It has already stared tickling it. Based on my own UK electricity prices this is still profitable to mine with Nvidia GPUs. Imagine a country like China with cheap electricity, miners usually have huge overheads and sometimes for larger farms selling on the day or week is favorable over mining to HODL. I can see this being a huge component in what drives the price lower over the coming weeks and months.
Comment: A little later than indicated on the original published chart we are starting to enter the buy zone. Assuming this current area is a new found support from the March 4 - March 17 resistance levels it may actually be hard for this to drop much lower than it is now against BTC. If this support is heavily broken this could slump to a much lower price.

A factor which could contribute to the price of Raven/GBP dropping would be a massive dump in BTC to previous levels 4000-6000USD.

I am long term bullish on Ravencoin with first take profit targets around 0.10GBP which will be locked in when I take up a long position. I am looking for my entry around 0.02-0.025 GBP for a 4x - 5x gain on the intial buys.
Comment: The RVNBTC has came into a desirable area but due to bitcoin's current volatility and confusion I am using this as an opportunity to level the folio by using "loose change" to add small positions to my RVN bag whilst confident that BTC's volatility may bring the price of RVNGBP down lower.

I am long term bullish on Ravencoin with first take profit targets around 0.10GBP which will be locked in when I take up a long position. I am looking for my entry around 0.02-0.025 GBP for a 4x - 5x gain on the intial buys.
The RVNBTC has came into a desirable area but due to bitcoin's current volatility and confusion I am using this as an opportunity to level the folio by using "loose change" to add small positions to my RVN bag whilst confident that BTC's volatility may bring the price of RVNGBP down lower.

I am long term bullish on Ravencoin with first take profit targets around 0.10GBP which will be locked in when I take up a long position. I am looking for my entry around 0.02-0.025 GBP for a 4x - 5x gain on the intial buys.
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Iowaska Iowaska
@Iowaska, Whoops, wrong entry field
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