16 Sep 2020 #Dash
Dash is one coin that has established itself as a mainstay in the cryptocurrency space and has been around for many years, and going through a few different uses and iterations. Dash coin have become popular and often sought after by investors because it holds a lot of promise and potential as a viable digital currency. But, a lot of the interest in the coin depends on the Dash price prediction.
Because Dash has been primarily focused on overcoming some of the bigger issues in the cryptocurrency space that investors feel thus far, such as scaling, speed and cost of transactions, and ease of use, it is a coin that could have a very bright future.
Unlike Bitcoin, it is not a coin intended to be likened to a digital gold, but the way it is being used in struggling economies as an alternative currency, and its effectiveness to be used at speed with little cost, means that the next two to 10 years could be massive for Dash. So, will the price of Dash go up? Let’s find out!
Dash has been around since 2014 in one form or another but people still often ask what is Dash cryptocurrency? It was originally called XCoin and came to be when founder Evan Duffield, unhappy with the transaction speed of Bitcoin, decided to found his own coin, with the intention of having faster transaction speeds and more privacy.
Dash is actually a hard fork of Litecoin — and Litecoin forked from Bitcoin originally. The coin has a hard cap of 18 million Dash coins, which is a lower supply than Bitcoin; already a good sign for further price rise.
But, unlike Bitcoin, the average block mining time on the Dash blockchain is 2.5 minutes, around four times faster than Bitcoin which takes about 10 minutes per block. This means that Dash transactions are much faster than Bitcoin, something which makes it desirable for everyday usage.
Some of the more technical key features of the blockchain include Masternodes, which make up a second tier network, and exist on top of the first tier which consists of normal network miners. There is also PrivateSend, a system that helps to maintain fungibility by swapping coins between users as a way to break the traceability of coins making the network safer, as a transaction cannot be traced and the coin’s history cannot be accessed.
Finally, the feature that sets Dash apart is InstantSend that allows for transactions with Dash to be almost instant.
The Dash trend, like many different cryptocurrency alt coins, has had a wild ride since 2017 to now. Having been around since 2014, it has a longer than most price history, but it is really only from 2017 and the massive price spike, as well as the way it reacted in 2019, that can paint a picture for its price forecast going forward.
In 2017, the Dash coin price increased by 8,000% leaving many asking how high Dash will go. Dash was trading at $12 in August 2016. In 2017, there was a big jump in the Dash price as it reached as high as $109 at the start of 2017. But, that was not the end of it as the coin spiked to an incredible $1,500 per coin at the height of the 2017 crypto market rush.
Of course, this level was not sustainable and the price of the coin fell rapidly through the 2018 bear market, falling to as low as $65 a full year later. The 2018 bear market was rough for most coins and Dash was no exception as the price of this token bottomed out at around $40.
But, towards the end of 2019 and the start of 2020, there was some renewed hope as the coin then climbed back above the $100 mark reaching above $120 at a point.
Dash, as a coin that is looking to be a functioning cryptocurrency rather than a store of value, is a coin that is greatly affected by the evolution of digital payment. Digital payment, though blockchain tokens, is something taking the world by storm at the moment as banks and even governments look into it.
So, with Dash pushing to be a viable alternative to normal online payments, especially in places like Venezuela, these are factors to keep an eye on when determining how the price of Dash will fall and rise in the future, and why Dash is going up.
There is a lot that goes into affecting the price of cryptocurrency, and Dash is no different. The coin may not be set as much of a digital asset as Bitcoin, but it’s own functionality as a digital currency is what makes its market move and its value increase or decrease.
It is not easy to predict the price movement of something like Dash, but based on a number of factors that make its market move, prominent crypto enthusiasts, traders and even websites have taken to putting forward predictions for the coming years.
“No one can, however, predict prices of cryptocurrencies with total certainty, thus it is crucial to understand that the following DASH price predictions serve merely as a suggestion of possible price development and are not intended to be used as investment advice.”
Trading Beasts sees Dash ending the year at just under $64.
“The Dash forecast is to reach $64.348 by the beginning of December 2020. The expected maximum price is $79.801, minimum price $54.265. The Dash price prediction for the end of the month is $63.841.”
However, into the end of the first quarter of next year, it is forecast that the price of Dash will dip a little.
“The Dash price is forecasted to reach $62.707 by the beginning of March 2021. The expected maximum price is $77.688, minimum price $52.828. The Dash price prediction for the end of December is $62.150.”
“DASH provides the users with high security as it has over 4500 servers which are hosted all over the world, that enables you to conduct the transaction instantly, from anywhere around the world. This feature gave DASH an edge over other cryptocurrencies.”
“The launch of DASH evolution has made a huge difference, which is a mobile app designed to be user-friendly and has a scalable digital currency platform perfectly suitable for mass adoption. This will allow any user to set up an account on the blockchain, then eventually add contacts and pay them by name, even make one-click purchases through websites or mobile apps.”
“This is literally a big “evolution” and advancement for the DASH community because of which DASH won’t get affected like other cryptocurrencies. This development enables it to climb up the ladder, which is why we believe DASH might reach around $950 by the end of this year.”
“Dash coin started the year on a bearish note. The popular cryptocurrency was trading around $35 as at the 12th day of January, 2020. As the market matures into the middle of the first quarter, Dash, around February, spiked by up to 300% to record the year-till-date (YTD) All-time-high (ATH) price of around $132.”
“This was followed by a series of short bear markets which crashed the price back to around 280% in Mid March. Although by the end of the first quarter, in March, the price had resurrected and made a little gain. At the time, the cryptocurrency began to change hands at $75 per unit.”
“This is where things stand until now. Dash has found a safe haven. It is because the price of Dash did not have any significant leaps since December 2018. The highest mark of the financial year of the coin is around $500 USD per coin.”
This expected price can be reached in a year without a second wave of cryptocurrency hype. With the 2020 year end, the price was predicted to reach $100 USD. The coin could also be trading at $111 USD by the end of December.
A look at the technical analysis of Dash currently shows Dash is ready for a bullish return. Currently, the path of least resistance is upwards, especially with the support of most technical indicators. As for declines, the price would seek refuge at the SMA 100 ($70.67), the SMA 50 ($70.14), $70.00 and the main anchor at $69.00.
Technical indicators are following in support as observed with the RSI. The indicator is holding strong in the overbought region after an impressive movement from levels around 40.
The ongoing bullish grip is reinforced by the MACD as it extends above the midline. A vividly visible divergence from the MACD puts buyers in control of the next direction Dash price will take.
With the year almost over and Dash having had an up and down time of it, the prediction for the remaining quarter of 2020 is still quite positive. The coins started the year on a bearish note as it was trading at around $35 in January but was one of the shining lights in the February rally.
Many are predicting a second wave of cryptocurrency hype at the end of 2020 and as such the Dash is expected to rise above the key $100 mark and even push towards $111.
2021 looks like it could be a very positive for the price of Dash. The team is establishing partnerships with payment systems and with small and large businesses. No doubt an easy-to-use cryptocurrency is good, it is more functional and promising when it is easy to spend.
Dash has established a fast reliable network and works with user experience of the product. These features can help the dash coin gain a much higher price of $2,000 per coin. If the drive for functional crypto continues into 2021, the price may even see a parabolic move.
Price predictions at this stage are hard to get right and very approximate
In an optimistic scenario, the Dash price to $8,000 by 2025. The Dash Labs Development, a strong team of developers and a positive news background around this blockchain project could give hope for the return to the top-10 by market capitalization. Also, new partnerships and the expansion of the geography of Dash payments is expected and will have a say in the price of the coin.
Dash is one of the more well known and well established coins in the cryptocurrency space. It has a long and vibrant history and has gone through a lot of changes, keeping its dynamic nature. This is what makes Dash one of the more trusted coins to invest in and answers the question of should I buy Dash.
Its recent performance in the markets has not covered it in much glory as the focus on crypto investing has certainly pivoted towards the coins that are more of an asset, like Bitcoin. But, as the market matures and the forecast for the future of this space continues to evolve, the need for viable and functional digital currencies will be further appreciated.
There are a number of big price predictions for Dash in the coming years. Some are not as impressive as others, but even the large and optimistic ones seem rooted in possibility. The fact that Dash can act like Bitcoin was intended to — as a digital cash system — that is both fast and cheap means that it has a high chance of disrupting the payments space in the next five to 10 years.
If this disruption is realized, then the future of Dash’s price, and its value as a coin, is certainly on the up.
With such broad, but mostly positive predictions over the next five years for Dash, it seems as if it is a good time to start trading and investing in the coin. However, to take advantage of a potential price climb, and the chance to trade on this coin, the right platform should be sought.
PrimeXBT is one such platform that has become popular with cryptocurrency newbies as well as veteran traders as it offers a user-friendly, but powerful platform. It is well known for its high degree of security and has won a fair share of awards for the service it provides.
If you would like to get started trading Dash, you can sign up for PrimeXBT here in less than five minutes with very little data needing to be provided.
Dash is one of those special cryptocurrencies that has a very bright future even though its primary use case is not as well needed at the moment. Cryptocurrency has become about coins that accumulate value and not function as a digital currency, but as payment evolves there is going to be a greater need, and a brighter future, for Dash.
Because Dash is such a well established and viable cryptocurrency, it is considered a coin that is here to stay. That being said, the cryptocurrency space is still in its infancy and if Dash sticks around for the next five years it would be expected that the price would rise.
Dash has not had a very good 2019, or 2020 thus far. It is a coin that has lost some of its relevance as other cryptocurrencies take center stage. The likes of Bitcoin, as a store of value, and Ethereum and EOS with their smart contracts, are good investments in 2020. Other coins, like Ripple and Litecoin are also much better investments for 2020.
Dash has certainly died down in its push to be a top cryptocurrency as it has fallen to the 20th spot and below in terms of market cap. But it is still going and still has a use case, so it would not be right to say that Dash is dead, it is probably more dormant.
Dash is technically a fork of Litecoin, but Litecoin is a fork of Bitcoin so there are ties between Dash and the original Bitcoin blockchain but it is more closely linked to Litecoin.
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