DASH Price Outlook: Consistency Be Thy Name
The price of Dash (DASH) is one that’s been fairly consistent since 2014. If we exclude the unexpected surge that caused all cryptos to spike in 2017, the DASH price chart features a number of straight lines. Indeed, for much of 2016, the price hovered around the $10 mark.
As of September 12, the DASH price live tracker was showing a value of $178.11. From this point, if we go back one month, the price of DASH has actually crept up from $165. While that’s clearly an increase, it’s not a huge spike. What it is, however, is another example of a fairly consistent trend.
We’re not saying that DASH coins are impervious to massive fluctuations. However, what’s clear from the price of DASH in dollars over the last few years is that it’s a fairly stable asset. Does that mean it will always be that way? Certainly not. However, investors can only look at trends and there’s a case here for DASH being one of the more consistent performers in the cryptocurrency market.
Short-Term Dash Price Predictions
Although consistency appears to be a defining factor of the DASH price charts, short-term swings are clearly possible. In the last month, the price has improved by more than $10. One of the main reasons for this is the economic issues in Venezuela. With the government releasing a new currency to tackle hyperinflation, many residents are turning to DASH as a more stable coin. This increased usage has buoyed the price of DASH and, in our opinion, will continue to do so in the coming weeks.
Mass adoption by a single country is always beneficial. When Japan became a hub for Bitcoin mining, the price of BTC soared. However, the flipside is that prices can tumble once interest wains. If Venezuela can sort out its currency troubles, DASH may become less useful and the price could drop. However, in the short-term, look for more gains because of this.
Long-Term Dash Price Predictions
Looking into the future, it’s likely to be much of the same for DASH. Innovations such as DashDonates are making it easier to spend the blockchain’s token. However, these types of moves aren’t nearly as high-profile as Ripple’s links with American Express et al. Another reason the price of DASH will probably always be solid but not mind-blowing is the fact it’s a non-profit organization. Unlike other projects that are actively seeking investments and business partners, DASH is more interested in the evolution of its own technology.
That’s certainly worthwhile, but it’s not conducive to massive price spikes. Based on this, it’s likely DASH will continue to trundle along a fairly even path. Yes, we’ll see DASH price fluctuations in the short-term. However, in general, the trend lines will straighten out in the long-term, albeit while moving in a positive direction.
*Information in this article is not intended as investment advice.