Dash (DASH) Price Analysis: Dash’s Market Price Soaring Up Since April 2019
DASH, Digital Cash, is an alternative coin launched to overcome the shortcomings of Bitcoin. Dash is peer-to-peer decentralized electronic cash which is built on Bitcoin’s core with advanced features enabling security and quick transactions. It is open-sourced and has its own blockchain, wallet infrastructure and community, with negligible transaction fees. Dash has a variable block reward that decreases by 7.1% every year. The average time for mining on dash blockchain is 2.5 minutes, which is four times faster than Bitcoin. Dash’s unique features include – PrivateSend which allows the users to send secure transactions amidst others, InstaSend – that lets you transact within 1.5 seconds and Master nodes that are responsible for PrivateSend and InstaSend. It also uses 11 rounds of a hashing algorithm.
Current Statistics
According to evaluation from Coinmarketcap, DASH is currently being traded at 134.76 USD for the market cap value of USD 1,177,766,914. Based on this report, Dash is ranked the 14th largest cryptocurrency in the crypto market. This is also dependent on the circulating supply of 8,739,457 DASH coins out of a maximum supply of 18,900,000 DASH and the 24h volume of $372,618,237. Coin market cap has estimated the approximate return on investment to cross above 9000%.
Market Trend Expansion
The market trend shows a continual moderate increase, with values range bound between USD 600 million and USD 900 million until March 31. The values peaked altogether from USD 902,279,410 and the trading price of 103.49 on April 01 to USD 1,189,483,419 with the trading price of 136.23 USD on April 04 at 01:39 UTC. There is a growing percentage of 31.83% and 31.64% respectively. However, the current market shows a slight deterioration from its past values. The overall market is influenced by the bulls rule.
Future Price Prediction
Dash’s market is expected to be on a continued uptrend in the future, and its potential turns the coin to be a long term profitable investment. According to Dash Predictions, the price of the cryptocurrency would reach 756.152 USD by 2020 and increase further to 1869.66 USD by the end of 2022. It also estimates a growth by 1994.41% by 2024 with the price closing around 2822.01 USD. Beincypto’s analysis and predictions look realistic. The site estimates the price of Dash to reach 140 USD by the end of 2019, and increase to 300 USD by 2020. By the end of 2024, Dash would be purchased at 700 USD per coin.
Conclusion
Dash is notoriously volatile, and this is exhibited with the difference in price values. However, the current market can be used to an advantage by the traders. Their short term plans will work out beneficial and would proportionally increase the value of the cryptocurrency.
