(Updated August 14, 2022) 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 in 2020 and 2021
Unfortunately for DASH holders and believers, this virtual currency has been in a long accumulation period since the bear trend of 2018 pushed this virtual currency to almost the lowest price since 2017. In 2020, the COVID-19 crash that all digital assets experienced was something that has also affected DASH.
The coin was not able to recover from this price crash in 2020. 2021 was somehow more positive for DASH, but nothing that could show a change in the general trend of this virtual currency. There are many other coins that are now able to do what DASH was proposing in the past. This is why it might not be possible for this virtual currency to recover part of the price that it lost in recent years.
The bull market that helped Dash in 2021 allowed the coin to move to $440 per coin, but this was not enough to even hit 50% of the price that DASH had during the 2017/2018 bull market in the cryptocurrency industry. The question that now many investors have is whether DASH would be able to recover part of the price that it lost in recent years or not. It might require some time and perhaps some new projects to be developed.
DASH Price Prediction TradingView Analysis Updated August 14, 2022
This virtual currency is currently getting closer to horizontal resistance. In the past, this resistance zone (close to 54 USDT) was a key price level as it made it very difficult for DASH to continue with its move higher. But right now, there is also a rising trendline that could continue growing in the future as well.
According to the analyst, the bulls need to break the horizontal resistance. Moreover, the price must also sustain above this level. If the prices get rejected at 54 USDT, then we could see bears taking control of the market and DASH could change its trend even lower.
This DASH crypto trading expert shows that DASH is near a very important horizontal support after moving lower in recent weeks. This support is a very important region as it could help this virtual currency avoid falling even further in the near future. As we can see, the coin has bounced from this support region in recent days and it has moved towards 54 USDT.
This comes as Bitcoin (BTC) recovered from the most recent downtrend and it is now trying to take the 24k USDT region. The analyst considered that the coin could go up from the support level, and this is what in the end happened to DASH. Therefore, we could say that this analyst was able to predict the move that DASH experienced from 42 USDT towards 54 USDT in recent days. Nevertheless, we should see whether Bitcoin will remain above $23,000 and if the coin continues to move higher.
DASH/USDT has clearly been in a downtrend for several months now and it has reached a strong support zone at close to 40 USDT per coin. The analyst says that the downtrend started after defining a top a few months ago. At the same time, the expert says that the price action has broken down multiple minor support levels and continues its downward trend.
The price of DASH could continue to move higher in the future if the support zone behaves as expected in the coming months. That means that there could be a break of the falling trendline that started a few weeks ago and that DASH could move towards 44 USDT or even higher in the near future.
As per the analyst, the RSI is having a bullish divergence as well, which could lead to the market continuing to move higher as the expert says.
For the DASH/USDT trading pair, this expert believes that DASH could soon start to recover and hit 100 USDT per coin once again. The analyst says that in the past, it was possible for DASH to reach an all-time high of 1,600 USDT and that it is now worth just 42 USDT per coin. Therefore, there could be a possibility for investors to enter the market at these levels.
The analyst shows that DASH could recover in the coming months and hit 100 USDT but retrace once again to the support level at 41 USDT per coin. This would be the moment in which the digital currency could once again move towards 362 USDT per coin and break from a multi-year bear market that started when DASH hit its all-time high several years ago but that could continue in the next weeks.
This DAS/USDT crypto traders considers that DAS has to stay above 45.6 USDT in order for it to reverse and continue to move higher. There are different support levels that have been drawn by this analyst that are worth considering. These support price levels include 45.6 USDT (now resistance), 38.2 USDT and 31.2 USDT.
If DASH starts moving higher once again, then the next resistance region is between 70 USDT and 80 USDT. But there are other resistance levels that are worth paying close attention to. These levels include 88.9 USDT, 111.4 USDT, 138.7 USDT, 193.3 USDT, and 283.3 USDT.
Bitcoin continues to be the leader in the market and it has also been guiding the whole space. If Bitcoin falls, then other digital currencies follow the same trend. Instead, if Bitcoin moves higher, we could see DASH following it.
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.