(Updated August 1 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.”
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 Venezula.
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 August 1, 2020
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.
The DASHUSDT trading pair is showing a good buying opportunity according to the analyst. The entry point was $69.12 and we can have a take profit order at around $70.32 leaving the market after $70.91.
Nonetheless, the virtual currency has been trading in a tight range marked by support and resistance levels located between $68.97 and $69.52. This shows that the virtual currency didn’t move higher as soon as it broke the $69.12 region but it was traded in the aforementioned close range in recent hours.
At the moment it is not possible to know what is going to happen with the current price of DASH.
The DASH/USDT trading pair is showing that the price of Dash could certainly fall in the coming days, according to the analyst. The trader considers that at this level, there is usually a change in direction towards the bullish side. However, these bullish trends have been getting smaller and shorter. The main question is whether now it will be the movement towards the downside.
Unless new buyers enter the market in the coming hours, we could see Dash maintaining a bearish trend for the coming days. However, the analyst considers that the best thing to do is to wait when Dash breaks support before a short position is opened.
The DASH/USDT trading pair has been traded in the last few weeks without a trend. That means that we see that there is a resistance in the 200 EMA and the 0.5 Fibonacci retracements. Moreover, there has been a reduction in the volume for this trading pair, which can be a sign of exhaustion at the current price levels.
Moreover, if there is a breakout in the near future, we could see also DASH breaking out and increasing its volume. This could be a very important moment to understand and see how the digital currency behaves and which could be our positions.
For Dash, it is certainly hard to understand how it could play out the current price. Nonetheless, we see that the price has broken out from a triangle and that could push it towards $78.370 and close to $80.357 in the coming days.
The analyst considers that the current strong support level is located around 0.618 from Fibonacci. The best in these cases is to search for confirmation and to start trading just after the theories get confirmed. The analyst suggests it is important to focus on clear patterns rather than searching for more confusing price movements.
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.