(Updated September 26, 2020) 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.
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.”
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.
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. Addition on 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.
DASH Price Prediction TradingView Analysis Updated September 26, 2020
For the DASH/USDT trading pair, the crypto analyst considers that we are making lows in the last 4 days and we could make new lows in the near future once again. Dash has been in a downtrend in the last few months and September started with a massive drop in the price for DASH that pushed it from around 90 USDT to 62 USDT.
Although DASH recovered part of the price in mid-September, it then continued the downtrend and reached a bottom close to 64/65 USDT. The analyst believes that DASH could be retesting the 62 price range following the RSI indicator.
Dash has been pushing into the resistance level close to 77 USDT and 79 USDT per coin in the last few days. This is very important because it shows there is interest in this virtual currency and market participants are doing everything what they are able to surpass this price.
The analyst considers that it could be a good decision to enter the market and leave it if the price breaks the uptrend. The take profit level is currently close to 84 USDT per Dash and we need to closely follow some indicators. At the moment, the analyst is looking at the RSI, the MACD and the volume.
Dash is also looking good for RocketBomb. He considers that the DASH/USDT trading pair could move towards 171 in the coming months. This represents a buying opportunity at current levels. This would allow the virtual currency to grow from 85 to levels not seen in several years.
However, the price of Dash could also move towards new lows if the market does not continue with its bullish trend. The next levels shared by the analyst include 99, 108, 108, 128, 139, 149 and eventually 158. However, it can change in the coming months or even years, according to the bullishness of the current trend and crypto market.
The analyst Miladrezaei is showing the DASH/USDT trading pair and how it could be ready to move towards $116 per coin. In order for this to happen there are two different ways. The first one is to fall towards $80/$82 per Dash and start a bull market up until $116.
The second possibility is for Dash to now continue moving higher and target firstly $104 and ultimately $116 per coin. Dash has been in a descending channel since August 6 and it has already broken it out. If it does not come back inside the channel, the predictions of this analyst could end up becoming a reality.
For the DASHUSDT trading pair, we see that the digital currency could move towards the 140 USDT region as an immediate target. That would represent an increase of almost 90% from the buying zone around 73 USDT per DASH. This comes after breaking above a descending wedge that broke towards the upside.
This is similar to what happened to other digital assets such as Litecoin or EOS in recent times. The main resistance levels are going to appear at 87 USDT, 103 USDT and finally 132 USDt to finally move above it and reach 177 USDT per DASH. This, however, would be after reaching the immediate target just below 140.
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.