(Updated July 31, 2021) At the time of writing, Dash is the 20th largest cryptocurrency by market cap, with a total value of over $1 billion. Dash price currently sits around $119, joining other coins in being about 90% down from its all-time high. We’ll look at what’s happening with the Dash ecosystem, and trading charts to make our Dash Price Prediction for 2019 and beyond.
The coin itself was launched in 2014, as a fork from Bitcoin. Since its inception, it has spent a significant amount of time since then as one of the most valuable cryptocurrencies in circulation. In March 2017, Dash saw a meteoric rise to become the 3rd most valuable cryptocurrency for a period of time.
What is DASH?
DASH is one of the oldest virtual currencies in the cryptocurrency market. It was released in January 2014 with the aim at offering a fast and private way to process blockchain transactions. Over the last years, DASH became a very used virtual currency in Latin America, specifically in Venezuela, where individuals are using it to pay for goods and services due to its low fees and fast transaction times.
Compared to Bitcoin, DASH is faster and it has more advanced features. The price of DASH has been fluctuating since it was released and it reached an all-time high of $1,642 back in 2017 when the virtual currency and the entire crypto market were in a bull run.
Over the last few years, DASH reached a larger number of individuals due to the fact that it became accepted in a wide number of shops and stores all over the world. If you want to know more about DASH and about DASH price prediction, then you are in the right post.
The aim of Dash is to provide a fast, borderless, untraceable currency for transactions. It achieves this through two features – “InstantSend” and “PrivateSend”. By default, these features are off. Users have the option to enable or not.
Dash has made traction as both a transactional currency and a privacy-centric coin. It is often named along with Monero and Zcash as one of the most prominent privacy coins.
Understanding Dash Masternodes
Dash has a unique opportunity for coin holders. Instead of mining coins like one would with Bticoin, Dash offers a system of masternodes—allowing holders to earn passive income. Find out more in our Guide To Dash Masternodes.
In terms of Dash price, masternodes are an important element in the ecosystem because they ensure that a significant amount of Dash coins are not going to be for sale. They’re locked into the masternode system, paying out holders (you can read more about payouts here), but also creating a relative scarcity for Dash coins. If and as Dash gets more buyers, demand mixed with this scarcity can shoot Dash price up even further.
Of course, there’s still a lot to learn about Dash’s mining operations as well, which you can find out more information in our guide to Dash mining.
Experts’ Opinion On Why Dash Will Rise
Dash is an open source cryptocurrency and was forked from the Bitcoin protocol. The coin gives users the freedom to move money any way they want, for less than a cent. The platform has made inroads in Venezuela, Colombia, and is slowly expanding its presence in Thailand, and these developments have seen the coin’s price rise significantly since it was launched. Let’s look at why experts think the coin’s price will rise.
TradingBeast predicts that the price of DASH will be around $42 by the beginning of February 2020. The expected maximum price is $58 and a minimum price of $39. The coin is expected to end the month at around $46.
In March, the price of the coin is to reach $46 at the beginning of the month. The maximum price is expected to be $62, and a minimum price of $42. By the end of the month, the price is expected to be around $50.
At the start of April, the price is forecasted to reach $50. The maximum price is expected to reach $67, and the minimum price to be $45. The coin is expected to end the month at around $54.
The predictions go on, and by December, the coin is expected to begin the month trading at around $74. The minimum price is expected at around $64 and the maximum to be around $95.
A recent article on the top 5 cryptocurrency performers on a leading crypto publication stated that the recent launch of version 0.14 on the mainnet upgrades the network’s security against 51% mining attacks, the first proof-of-work. Such developments have seen the coin’s price increase by 58% from 2018 to 2019, and this is expected to continue as the platform continues to grow.
2gether CEO, Roman Ferrez recently gave positive comments about Dash coin. In an article published on another leading publication, Ferrez stated that Dash is one of the most widely-used cryptocurrencies, and adding it to their list of 9 digital currencies opens them to new markets in the Eurozone. This shows that Dash has shown great potential, and as it continues to penetrate different markets, its price will be affected positively.
Additionally, Ryal Taylor, CEO of Dash Core Group, also gave positive sentiments, after stating that adding the coin helps strengthen the bridge between fiat-based financial markets and cryptocurrencies, and also provide better ways to help citizens in the Eurozone reap more benefits from decentralized payments.
Other factors that are driving the price of Dash include;
The Dash Community Is Getting Stronger
Recently, DashRoots announced the launch of its platform. It will help individuals and teams have greater access to funding by the Dash community.
Martin, one of the founders of DashRoots, says the platform helps people at the grassroots level to bring their talents and skills to Dash. It happens by helping crowdfund their ideas directly from the Dash community.
He adds that the Dash treasury is a crucial part of the network. It enables evolution, but sometimes it’s too expensive to fund small ideas. It’s this area that Dashroots will aid the most. Helping people raise smaller amounts to bring their skills and ideas to the project at the grassroots level, “where small things can turn into big things.”
This kind of activism could see Dash come to the forefront of crypto adoption, going beyond innovative ideas like the SMS-based wallet it launched in Venezuela. The country became one of the hot spots for DASH and its adoption. Users in the country are using the virtual currency as a means of payment due to how easy it is to use it there. In the future, new shops and stores could also start accepting this virtual currency and making it easier for users to pay for both goods and services with DASH.
There was a recent study on cryptocurrency transactions which found that Dash was one the most used currency in making small trades. It’s something that indicates its real-world use as money. The study involved collecting data from top cryptocurrencies from BitInfoCharts.
It was then used to establish statistics and trends that infer the nature of economic activity across different networks. The findings make for an exciting read. The stats show that Dash has consistently maintained a low average and median transaction values. Therefore, Dash is mostly used for retail purchases and other similar purposes.
Merchant data from Anypay also support the hypothesis. Also, Dash transaction volume data has remained constant despite that of other cryptocurrencies declining since the speculative winter bubble. It indicates the increase in merchant transactions that counter the drop in speculative trades.
Due to its amazing expansion in Latin America, its utility has also increased. Nowadays, DASH is used to process fast and private transactions for just a few cents. That makes it easier for individuals to use it on a daily basis. Utility is one of the main drivers not only for DASH price but also for other virtual currencies. The larger the utility the higher the demand and the easier it becomes for its price to move higher.
Dash Addition On Leading Brazilian Exchange
One of the leading Brazilian crypto exchanges recently announced that it was integrating Dash on their platform. It’s a move that would help significantly expand both consumer and merchant access to the cryptocurrency.
In a tweet made on Feb 28, the Coinbene praised Dash as a coin that would revolutionize the whole country, and it’s also a currency that even in the low market that could be consistently valued due to the coin’s focus on real-world usability.
Currently, the exchange boasts over 3 million active users around the globe and offers over 100 crypto pairs. It also charges the lowest fees in Brazil at 0.10% for buying and selling crypto.
This move comes at a time when Dash has been experiencing rapid growth in South America, especially in Venezuela and Colombia. The addition to one of the leading exchanges in Brazil will help the coin continue to grow its influence over Latin America as it will offer consumers and merchants more spending options when it comes to buying and selling.
There are many other exchanges around the world that have added support to DASH. In this way, there is easier access from individuals to DASH as one of the fastest-growing digital currencies in the world.
DASH Price Prediction TradingView Analysis Updated July 31, 2021
The analyst is currently bearish for the DASH/USDT virtual currency. The coin is trending down and also trading below the support line. This is why it is very important to follow the evolution of this coin in the coming weeks.
As we have seen, DASH was able to surpass this support line shared by the analyst in recent days. Now, the coin is trending higher and it could continue to do so in the future. DASH is now trading at around 154 USDT per coin after being traded around 138 USDT a few days ago.
DASH’s future would highly depend on how Bitcoin behaves and which is the impact that the largest cryptocurrency could have on altcoins.
We see that for the DASH/USDT trading pair, there has been a real battle that gained momentum over the past year. At the same time, it has also been affected by FUD. There have been some issues related to privacy and how Bittrex has delisted DASH from the exchange.
At the moment, there are more than 5,000 merchants that accept DASH payments. Moreover, there are more than 2000 ATMs around the world supporting DASH. Nonetheless, coming back to the price, there has been some unusual volume in the DASH/USDT trading pair. The analysts consider that we should focus on higher highs, higher lows and how the virtual currency broke 2020 high.
As per the DASH/USDT analyst, he shows that the virtual currency could be moving upwards in the near future. What he sees is a bullish trend-line in a short time. However, this could also be applied to mid-term ranges. Furthermore, there have been several buying indicators in recent months, however, they were followed by periods in which the DASH virtual currency fell to the previous price levels.
The DASH expert explains that there shouldn’t be any speculations and no trading advice. One thing is clear, if Bitcoin moves in one or another direction, altcoins generally follow that trend with moves of larger magnitudes.
We have seen that DASH has been in a bullish triangle that was helped by Bitcoin moving higher in recent weeks. This has pushed other altcoins also higher and not only DASH. Investors were searching for some returns after the correction that digital assets experienced a few weeks ago.
Now, DASH was able to bounce from the triangle support and confirm the triangle even further. However, the analyst explained that Bitcoin was a little bit “on edge” at the moment. Thus, it could have been possible for DASH to follow the trend of the largest virtual currency in the market.
As the triangle has broken doenwards, now we see DASH being traded close to $160 per coin.
This analyst does a long-term analysis of the DASH/USDT trading pair in the market. He shows that the chart is moving in an ascending channel (bullish for DAHS) and that the Fibonacci 61.8 is playing very important support for this virtual currency.
At the same time, there is a hidden divergence with respect to the MACD indicator, as we can see in the charts. In addition to it, a recent DASH halving has occurred meaning that it might be possible to enter a long position from the current levels. At the moment, and as we can see the 0.618 Fibonacci retracement level is working very well to help DASH sustain its level.
Conclusion and Price Prediction
Interested long-term parties can gain a portion or a whole masternode at a cheaper price.
As detailed above, there is hope and optimism within Dash and it shows in the above charts. So, we can expect to see Dash perform better in the coming months.