By Mary Ann Callahan
In December, Dash’s price had an unbelievable spike, the kind that many cryptocurrencies have enjoyed over that last few years. The DASH to USD price jumped from a figure of just over $260 in November 2017 to an astronomical sum of $1,433.53 in the following month.
As with all big spikes, the Dash investors would have been hoping that it would hold at that figure, but it never happened. In April this year, it fell down to just below the $300 mark and currently sits at just above that figure.
A coin to be trusted
Dash markets itself as a privacy token which aims to achieve a greater level of security, when compared to the likes of Bitcoin. The main advantages of the coin are the security that it provides, but also the speed and the low cost of the transactions on its website make it a coin to be respected.
Over recent times, the rises and falls in Dash’s prices have mirrored that of Bitcoin. It seems as though the two are intertwined in the eyes of investors, which would possibly be due to Dash being based on Bitcoin’s core code. As time moves on, Dash will want to make efforts to move away from that shadow and carve their own path, and they have been making efforts to do just that.
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In order to achieve this, Dash wants to continually improve the things that make it great, and more pertinently, the aspects of its coin that separate it away from Bitcoin. The scalability issues of Bitcoin have been well documented and there are many coins that have made attempts to be the one to make the most use of their failings. Dash hopes to be the coin that investors turn to when they are put off by Bitcoin’s issues.
How Dash set itself apart
What they have done to try and stand out from the crowd is launch a new payment system, which they call Dash Evolution. It could be a possible rival in the future for the ever-popular PayPal, as the system is slick and works extremely well. The system is very user-friendly and has appreciated the new social world that we live in, with incorporating an app store into the dashboard as well as a friends list.
Dash has taken what has been a challenging start to the year and has fought against it rather than succumbing to it. They are trying to take matters into their own hands by making effective changes which will make it stand out from the crowd. They have yet to strike up the type of partnerships that other coins have been able to, but there are signs that it could be just about to change.
At the moment it appears as though Dash is struggling to show to the world that it should be more trusted that it is. The boost to its technology this year might be a sign that things are about to get a lot better for Dash. We have seen with the likes of Ripple in recent times what the announcement of a good partnership can do to the value of a coin, Dash will be hoping they are in line for such a boost.
Waiting for the spark
At times like these where a business is trying to prove itself and show to potential investors, sometimes all it needs is for one spark to ignite the flames. Once one trusted organization uses Dash, then others will follow. Dash will be hoping that their break comes sooner rather than later.
The Dash cryptocurrency solves many of the problems that are associated with Bitcoin and is starting to carve its own path into the world. Its technology is impressive and it is building a community that is one of the best in the industry. The Evolution payment system makes things clear and easy for everyone involved and will be very attractive for anyone looking to invest in the coin, especially those taking their first steps into the world of cryptocurrency.
Experts in marketing
A lot can be said about marketing too. Dash does it as well as anyone and their community actively engage in forums and across the web. From its original name of ‘Darkcoin’ and the natural associations with the dark web, Dash is trying to promote itself as the friendly face of digital currency.
That being said, it all means very little if you’re not getting a return on your investment. In recent times Dash hasn’t exactly set the market alight with its performance. Dash is a coin, though that feels like it is on the verge of greatness. They have been building the platform, crane and selecting the right astronauts, and now it feels like it’s waiting for that spark that will send that rocket sky-high.
Time to invest?
The best time to invest in a cryptocurrency isn’t when it is riding high and in the news, but rather when it’s just about to become that news story. Dash has proven to be a strong coin, but whether we’ll witness the price explosion any time soon is yet to be seen. It has an ever-increasing dependence from being affected by the performance of Bitcoin, so the signs of recovery for Bitcoin may well be a good news for the Dash investors as well.
When it comes to predicting the price of any cryptocurrency, the wisest decision to make is to follow the market sentiment, read the charts, and watch out for upcoming developments to the coin. Dash so far has been a dormant volcano, and it could be just a matter of time for it to explode. Let us see!
About the Author: Mary Ann Callahan
As an expert on Bitcoin-related topics, I’ve found myself as a Journalist at Cex.io – cryptocurrency exchange. I’m working on articles related to blockchain security, bitcoin purchase guides or bitcoin regulations in different countries.