The crypto market is back, and most coins have gained momentum, with bitcoin close to $10000. Dash (Dash) too has been on the rise, after hitting lows of $400, it’s now trading at over $500 after dropping to lows of $300. Now the question on everyone’s mind is, can Dash (Dash) head back to its December highs, when it was trading at over $1500?
Well, if everything continues in its current trajectory, then there is good reason to believe that it will. First, Dash is one of the better known coins in the market. The reason why it lost so much value is because of the sustained bear run that hit the crypto market in quarter one of 2018. Now that the Bull Run is back, investors will be looking to get into strong cryptos that are highly undervalued, relative to last year’s valuations.
It is this buying pressure that will play a major role in pushing Dash (Dash) back to a $1000. A similar thing is happening to Bitcoin Cash. Towards the end of the bear-run, bitcoin cash was trading at under $700. Now that the market is back, everyone is rushing to buy it, in anticipation that it could head back to over $3000. This buying pressure has driven it to its current price of over $1400.
On top of the market-wide bull-run, Dash (Dash) could be pushed up by the upcoming Dash evolution release. Though it has been delayed for some time, there are good signs that it will happen in the near future. This is guaranteed to drive up the demand for Dash significantly, because it is designed to make Dash more efficient. That’s because Dash evolution is meant to play the same role as SegWit or the lightning network. It will make Dash transactions faster, and cheaper and hasten the rate of adoption. As things stand, Dash (Dash) is already one of the best on this front. As such, the Dash evolution is making an already good project better, which is good for its long-term value growth.
Another factor that will play a role in pushing up Dash to its previous highs is the fact that it has seen a sustained level of adoption even during the recent crypto downturn. In that period, Dash was added to Abra, a platform which acts as an online bank, where investors can spend their cryptos. In that same period, it has also be added to Bitit and Negocie coins. That’s a good indicator that Dash has what it takes to be mass adopted as a usable currency, which is good for its long-term value growth.
A combination of these factors is a good indicator to Dash (Dash)’s medium-term potential. Even from a technical analysis perspective, all indicators from the moving averages to all other technical indicators point to a coin that is on the rise. If the market performs better than it did last year, then Dash (Dash) could easily get to over $2000 by the end of 2018.