It would be safe to assume at this particular stage that large institutional investors aren’t overly keen to make a big leap into the crypto space, as proved by the utterly disappointing launch of Bitcoin futures trading on Bakkt.
This could mean that the expected emergence of the fully-fledged bull market, which propelled the price of all crypto to their all-time highs in 2018, has been stopped in its tracks, if not reversed to a crawling bear one.
The situation still hangs in the balance and could change any minute to showing green candlesticks all the way, though a wise investor should always plan for negative scenarios, which means devoting money to the digital assets that had already shown a good track record. Dash can definitely be categorized as such an asset since this cryptocurrency combines solid fundamentals, very impressive return on investment and plenty of room for future development.
Dash was established in 2014 as a privacy coin by a team of blockchain developers led by Evan Duffield. Originally named Darkcoin, as a reference to Darknet and coin’s privacy properties, Dash had been designed as an improved version of Bitcoin that allows for instantaneous anonymized transactions through the utilization of several cryptographic algorithms; a significantly lower electricity consumption for mining purposes; the global network of masternodes for swifter transaction verification; the mechanism of decentralized governance with affords all members of the Dash network to participate in the decision-making process.
The team is continuously working on updates to the network, with the latest one, Dash Core version 0.14, expected to be implemented by the end of the year. Besides, this cryptocurrency has plenty of real-world use cases. For instance, citizens of Venezuela, who are forced to adapt to the economic hardships constantly, have chosen Dash as a safe haven amidst the galloping inflation. To summarize, Dash has a strong potential for upward growth, even despite the market unsteadiness, substantiated by its 9000% ROI.
Acting in unison with the rest of the cryptocurrency market, Dash has had a strong bull run in the period of March through June, peaking at $189.54 on June 26. After that, Dash went into a steep correction, dipping twice (in July and September) and retracing back by as many as 65.31% to the current level of $69.67, as of the time of writing.
It’s more likely that the coin will continue to consolidate for the duration of the next few weeks, seeking support at $70 - $75.
The optimistic scenario dictates that Dash will recover and enter the corridor of $80 - $100, where it had been prior to the last dip, and then make a breakaway to this year’s high. The introduction of the 0.14 upgrade should facilitate that process. Otherwise, we could witness the return of the bear market.
In the long run, we should expect the confirmation with the subsequent formation of the upward trend, which will translate to a steady rise of the Dash price during the first months of 2020. The future system upgrades and real-work adoption will also drive the price forward. The approaching halving of Bitcoin should also work in favor of Dash as this coin has historically shown a substantial correlation with the price of the dominant cryptocurrency. However, given that the recovery from the current retracement might take a long time, the possibility of DASH reaching its all-time high of $1,642 next year is quite slim.
|#||Crypto||Prediction||Accuracy||CVIX||Price||24h||7d||Market Cap||7d price change|
|1||BTC||Bitcoin predictions||74.4%||48||$49 653.41||-1.04%||-11.92%||$938 231 285 210|
|2||ETH||Ethereum predictions||77.2%||39||$4 371.46||1.74%||-2.81%||$518 726 908 591|
|3||BNB||Binance Coin predictions||78.4%||35||$602.61||6.15%||-1.70%||$100 516 630 091|
|4||USDT||Tether predictions||93.6%||1||$1.001029||0.01%||0.07%||$76 404 874 493|
|5||SOL||Solana predictions||70%||61||$189.68||1.51%||-15.46%||$58 298 771 519|
|6||ADA||Cardano predictions||65.2%||77||$1.37||1.42%||-10.77%||$45 766 334 793|
|7||USDC||USD Coin predictions||92.4%||2||$1.001815||0.22%||0.32%||$41 115 117 851|
|8||XRP||XRP predictions||68.8%||65||$0.847842||5.03%||-12.53%||$40 058 264 442|
|9||LUNA||Terra predictions||64%||75||$75.43||12.62%||19.06%||$28 728 578 546|
|10||DOT||Polkadot predictions||68.4%||70||$28.89||0.14%||-17.80%||$28 535 305 964|
|11||DOGE||Dogecoin predictions||66.4%||65||$0.177346||0.37%||-13.13%||$23 487 786 636|
|12||AVAX||Avalanche predictions||63.6%||77||$94.12||7.54%||-19.09%||$22 852 451 871|
|13||SHIB||SHIBA INU predictions||62.4%||79||$0.000036||0.19%||-13.18%||$20 008 775 732|
|14||MATIC||Polygon predictions||63.2%||70||$2.34||4.62%||13.05%||$16 582 834 795|
|15||CRO||Crypto.com Chain predictions||65.2%||78||$0.607936||-0.59%||-14.02%||$15 358 289 057|
Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.
© 2015-2021 Crypto-Rating.com
The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.