[updated March 2, 2019] At the time of writing, Dash is the 15th largest cryptocurrency by market cap, with a total value of US$724 million. Dash price currently sits around $83, 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.
Opportunities for Dash Price In 2018
Last year saw a massive correction on the crypto market with all crypto coins losing value. Dash has lost over 90% of its value from the peak price of $1642 in December 2017.
Now trading near $83, there are reasons that Dash could rise back again, starting with the $200 area. This will be the reasons for a rebound based on moves, though technical analysis will show us that these will need to be a major influence.
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.
In addition, DASH Core Group (DCG) CEO said recently that DASH will survive the crypto “winter” just fine, retaining its staff and operations. This should instill a new sense of confidence in investors after seeing thousands of projects end last year.
Dash Price Technical Analysis
The long-term chart of the DASH/BTC pair is shown below:
Dash long weekly tradingview chart Feb, 24
Here is a LONG TradingView chart by Unity-Trading-Group. The graph shows that Dash has had a good and steady increase in volume daily. Also after the last push, it has had a nice and healthy retrace forming a descending wedge as well as respecting the fib levels with a nice bounce off the 50%. Now, it’s holding onto the 38%.
For those that enter between 38 and 50 but have laddered down to 618 hopefully they get a lucky dip. For those that are shooting for the 1.272 extension hopefully, they will get a lucky break and see a 12-15% push.
The long-term chart of the DASH/USD pair is shown below:
The chart shows that Dash is still bullish and on an ascending triangle. Its also on a bloody channel which could mean two things, either it’s a bear flag, and we are just about to have a 1-2 wave into the bear market, or it’s a slow and volatile range-bound trading that may eventually test the main descending resistance.
Conclusion and Price Prediction
The charts are showing a bullish tendency for DASH (in its USD pairing), so, it looks like in March we could see some positive movement and the coin could test the $100 mark. Also, interested long-term parties can gain a portion or a whole masternode at a cheaper price if they’re interested.
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.