Dash uses a two-tier system. In other words, In DASH, specific network works, such as building new blocks, are controlled by the miners. The second tier contains the “masternodes” which give PrivateSend, InstantSend, and governance roles. Masternodes need 1000 DASH as security to stop sybil attacks. That security can be used but it also eliminates the associated master node from the network. The questions are: What’s the future of Dash Cryptocurrency Price? Is Dash Cryptocurrency a good investment?
DASH Cryptocurrency Price Analysis
The historic price trends above show that the DASH cryptocurrency price traded more on the BTC base pair than the USD. In the crypto market, the price performances of many cryptocurrencies depend on Bitcoin price. In other words, when Bitcoin is performing well then most likely, other cryptocurrencies would also perform well. When Bitcoin performs badly, other cryptocurrencies usually decrease even further.
This method also influences Dash. So, even though Dash has sound and powerful characteristics, Dash won’t be able to run separately. It is still influenced by Bitcoin’s price movement.
DASH started the year 2018 at $1,051, a huge rise of more than 9000% percent from January 2017. DASH witnessed continuous growth in the year 2017, but it also noticed a repeal in the year 2018, just like most of the cryptocurrencies.
Now, at the moment, Dash is in the green zone while the many other cryptocurrencies are in the red. The only other cryptocurrency in the green zone is Ethereum Classic which is trading 1.80% more high-priced on the day.
Image Source: TradingView
Surely, the cryptocurrency market is right now unpredictable. You can say it is like a game between Bullish and Bearish. The general trend is bearish right now and most investors are reluctant to invest in any new cryptocurrencies but DASH is sure looks promising because of the new partnerships.
Currently, Dash is trading at around $65 and encountering next resistance at the 100 SMA. The improvement from the fresh high at $62 gained a surplus. Technically, Dash could start on a decreasing trend focusing $62. In other words, if the descending declining 50 SMA passes below the 100 SMA, the bearish purchase is required to establish, therefore, start the price upon the key support levels at $598 and $62.
Dash up by 50%
Today, the DASH managed to rise from nearby 49 USD to over 64 USD. The reason for the price increase is uncertain but there are some speculations that this gain is because of its privacy feature. This hype around its privacy was launched by Coinbase CEO Brian Armstrong and John McAfee last week. Armstrong stated that the minimum one privacy coin will enter the mainstream in the next few years.
The major reason could be the grown usage of DASH in troubled countries like Venezuela. Ernesto Contreras, the chief of the Dash Core Group, stated in a recent blog post that Venezuela is now the world’s leading market for crypto adoption.
Conclusion
Dash has powerful characteristics. It is durable, and its privacy robust. The prospect is good, and it’s not a dangerous choice to invest in Dash. That being said, the cryptocurrency market is volatile and you should study and analyze all the technical aspects of this cryptocurrency before investing.
The DASH can also benefit from taking remedial actions for the mining glitch it observed in the year 2014 that ended in an asymmetrical distribution of money. The future is good for DASH because of its amazing features.