["If Bitcoin remains bullish", the price of Ravencoin (RVN) will soar 380%]
As the cryptocurrency market prepares for a rebound, low- and mid-cap altcoins are starting to attract attention. Bitcoin (BTC) has climbed from below $62,000 to $67,200 over the past seven days, fueling optimism in the altcoin market.
Ravencoin (RVN) found significant support at the $0.014 support level, and increased trading volume could take the price to the $0.027 target, according to analyst Decilizer. Decilizer added that Bitcoin’s continued rise could see RVN replicate its previous 380% surge.
Bitcoin’s upward momentum is particularly important ahead of the Bitcoin conference on July 25-27. The conference will feature top speakers whose comments are expected to drive BTC prices higher. Supporters expect a lot of positive energy during the Bitcoin conference.
Presidential candidate Trump, known for his crypto-friendly stance, will attend the digital assets conference in Nashville. Elsewhere, Tesla billionaire Musk arrived in Tennessee, fueling speculation that he will attend a 2024 Bitcoin conference. Musk updated his X (Twitter) profile to include laser eyes, which was interpreted by the crypto community as a heightened focus on Bitcoin. Michael Thaler responded enthusiastically, adding to the optimism in the market.
Analysts expect Trump and Musk’s support during the conference to drive BTC higher in the coming months. Current market conditions suggest that Bitcoin is on the verge of a rally, and the upcoming BTC session could set the stage for a solid cryptocurrency rally that would also coincide with Ravencoin’s expected 380% price surge.
Currently, RVN is trading at $0.01987, down 1.22% over the past day. This small drop comes on the heels of a significant advance that saw RVN rise from weekly lows of $0.0186. Sustaining bullish action above the $0.014 support could see RVN reach the $0.027 target and lead to a 380% surge to $0.75583 on the back of Bitcoin’s gains.
