Ravencoin is Seen Further Down
Ravencoin (RVN) has experienced a decline of 11.0%, reaching $0.0172 this week. The overall weakness in the market has contributed to this decrease, with Bitcoin (BTC) prices falling by 7.0% to $38,900, marking the lowest point since December 2.
The general market conditions pose additional risks for RVN. If BTC drops below $40,000, it could potentially continue down by another 10% to $35,000 per coin. This could, in turn, pull RVN down by 14.0-15.0% to $0.0140-0.0150 per altcoin. As there are no significant developments or news from the Ravencoin network to support the altcoin, its performance is largely influenced by broader market trends. A potential recovery in BTC above $40,000 could mitigate the downside scenario for RVN.
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