Dash (DASH) Price Analysis : Dash is on the Verge of Losing its 20% Valuation this Year

Dash has been forked from bitcoin protocol, and it is a next generation digital currency. It is a decentralized autonomous organization (DAO) that has a network of master nodes which functions to maintain the security of the blockchain. It was initially launched as Xcoin in 2014. Later, it was renamed as DarkCoin, and then, again, it was renamed as Dash in March 2015.

Current status of DASH

Dash is currently getting traded at USD 89.25 (UTC 08:34). It is the 15th largest cryptocurrency in the world in terms of its market cap. It has a circulating supply of 8,687,489 DASH, worth of USD 775,372,868. Its current price is on a bearish trend by -3.80%.

Price analysis of Dash by DASH charts

DashOn the basis of the above chart, it is evident that at present DASH is getting traded at 89.48 USD or 0.02286426 BTC (UTC time 08:37). Its present market cap has a trading value of 777,345,040 USD with 259,164,333 USD as its 24h volume. The same chart shows that the value of DASH, nearly one month earlier was 80.80 USD. So, the value of DASH has been raised by 10.74% in this approx. One month period. Its earlier price point of $86.50 has provided a good support resistance.

Future price analysis of Dash

Although there are many developments planned for DASH this year, majority technical analysts have opined that it depends on the general market sentiment regarding the price hike of this crypto. Dash can recover above $100 in 2019 provided; there is less volatility in the crypto sphere. As per Dash Forecast, Dash has a great probability of losing to its major competitors like Monero, and Zcash in 2020. In 2023, the general market sentiment is expected to improve a lot, and at that time, its value can upraise to $700. If the situation remains all right and there are good developments of Dash to attract many investors, then, by the end of 2019, it can be trading around $140, by the end of 2020, it can have a value of approx. $300 and in 5 years, its price can be approx. $700. If the situation remains worst, then, its value can be as low as $50 in this year and $3 in 2020.

Final thoughts

Dash is a highly fluctuating crypto, and it is not a good idea to splurge on it now. It’s better to wait till it attains stability and then to make investments accordingly.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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