Expert Analysis: Dash Price Prediction
Even at the back of ravaging prices, DASH is still one of the most valuable coins in the space. Although dropping asset prices didn’t spare it, DASH has a deep liquidity with a total market cap of $619 million at the time of press. Dash offers a great way to make instant, private payments online or in-store.
That said, the focus of this article is what the future portends for Dash price-wise. Currently, prices are at around $73 which isn't that impressive. At one point during the mega-rally of late 2017, DASH retail price stood at $1,642. Anyhow, predicting future prices of digital currency is as arduous a task as any when dealing with volatile products.
What Factors Could Influence Prices?
The following could be positives for the price of Dash:
- The relatively small Supply. The total number of available Dash is capped at 18,900,000. This limited supply could actually be an asset in the near future based on simple supply-demand economics.
- Demand for secure and anonymous transactions-There is still a gap in this sector than Dash can fill. It is simply a matter of time before people discover the ridiculously fast nature of blockchain based transactions. Indeed, for most it is simply a matter of trust. This is an opportunity for Dash.
- Strengths over Bitcoin. Dash offers faster and cheaper transactions than Bitcoin. This is vital because as Bitcoin continues to struggle with scalability problems, more alternatives are being sought. Dash could be one of them.
- The accessibility and open nature of the coin. You can buy DASH using a wide range of digital and fiat currencies. Besides, it has one of the most open communities there is in all of crypto-sphere. This decentralization is exhibited by a voting system for proposals. This openness could be an edge over rivals, particularly Ripple.
- Venezuela Factor: At the face of eroding hyper inflation, citizens are flocking to crypto. One of them is DASH and the penetration level in the country is so high, Church’s Chicken—KFC’s competitor now accepts DASH. Church’s Chicken is not the only merchants seeing the benefits of a secure, fast and cheap network. More than 540 other merchants are reaping huge benefits. At this pace, we expect other countries—not confidence with their paper currency, following suit and incorporating DASH in their day-to-day transactions.
What Could Hold Dash Back?
- Slow adoption– Regardless of the obvious advantages that digital currency offers, most people still prefer regular currency. Lacking the name recognition of the likes of Bitcoin does not help matters either. It could be a limiting factor in the end.
- Intense competition- Despite its recent successes, beating the more established competition is an uphill task. Monero, Bitcoin cash and Litecoin are rival platforms that offer remarkably similar services .Standing out will be crucial.
An Optimistic Projection
At spot rates, DASH is exchanging hands at $73 against the USD in major exchanges. All the same, it could be worse. With the market trying to stabilize following 2018 upheavals, it is likely that DASH prices will rebound towards the $235 level by Q1 2019. If that is the case then bull momentum might build up and DASH could extend those gains to $400 by Q2 2019.
But, we shall not get ahead of ourselves. Recovery depends largely on BTC response to this adversity. Its expansion would lift the coin from its misery. But that too is from an optimistic angle. Should prices melt, then we cannot dismiss odds of DASH tumbling back to Q3 2016 lows of $10 or worse $5.