DASH Crash? How far will the price fall?
The price of DASH had been hovering slightly below or slightly above the $10 mark for several months leading up to the new year.
Over the month of January the price began to take a steady rise taking out $20
Amid the uncertainty of the Bitcoin Hardfork, the price went parabolic as the month of March started.
On March 1, DASH hit $45
By March 18, DASH hit a record high of $113
Since that high the price has continued to fall, today falling below $60
The price fall is heading towards losing nearly %50
Price chart year to date https://coinmarketcap.com/
Is this a crash? a correction? Profit taking from investors? it remains to be seen...
Let me know what you think in the comments!
Update: Great discussion in the comments so far, I enjoy reading everyone's opinions!
Update: DASH at $54, lost roughly %50 of value from its high
Update: DASH $47
I will be starting a new cryptocurrency interview series very soon called "Tales From The Crypto"
I have a great interview for you guys!
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DASH: XgQ9NBonMoCPKhF37agY4W8zk7gwQFnwGV
Ether: XE04RO3I0QA5UKB31OZK4O3CK3TOT03R4TM
Dash will drop as long as Bitcoin is on the rise. When Bitcoin drops, Dash will go up. Normal.
I agree although, I think some of the "initial hype" money will not necessarily return. Thanks for your input!
It's not a correction. Most cryptocurrencies have no intrinsic value. Their basic value is decided by the feelings of the community. This is why DASH has done so well - it has done a lot of presentation and advertising.
Sure, DASH is good, but so are a number of other cryptocurrencies. The truth is that at the beginning of March everybody went crazy and a lot of money was pumped into the market. Those that "looked good" did the best. Corrections come after a longer period of investment where a climb in values have become the norm. March was just a crazy time with repercussions still to be seen. Who knows? Maybe DASH will climb again to its glorious heights!
I traded in Ethereum or DASH only a little when I thought there was a profit to be made, but I always returned to Bitcoin. Why? Because the market needs Bitcoin and most transactions are based on Bitcoin. Until trading becomes the norm in other cryptocurrencies, there is no competition for Bitcoin.
(In saying that, it is now possible, although in limited ways, to trade with DASH, Monero and Ethereum as a base currency on some of the exchanges. We will have to see how this develops in the near future.)
Great insight. I had my reservations about DASH in the mid term because of it's reliance on marketing, where as BTC relies on it's market foothold as you pointed out. However, in the future I do not know. I agree, we will need to see how it develops.
Seems like a correction to me. It was bound to correct eventually and a big rise means a big correction. But before you give up on Dash, remember how BTC corrected from $100 to $2 in the span of a week. I don't need to tell you where it is now.
Haha, yes that is a good reminder and lesson on crypto volatility! Thanks for your input!
I think the 'instamine' and likely insider-controlled Masternodes is the poison pill that will ultimately kill off this once promising project. What is bad, is that the more marketing it gets, the more noobs come in and will be the bag holders. Evan should address and deal with the 'centralized' issue before it is too late, if he wants long term success and an in-tact reputation. Greed always kills the golden goose.
Sad... at one time I had several hundred Dash coins and seriously considered running a Masternode. Now I have less than 1.0 Dash scattered in multiple wallets. Not buying at any price until I can trust the team.
Technically, it seems a good point to buy-in for the short-medium haul. I'm no expert though. People who invest in scams usually do make money initially, if they're invested early. But you never know when the scammers are going to cash-out, and it happens fast. I'm not saying I believe with 100% certainty Dash is a scam, but if it looks & quacks like a duck...
I accept DASH for donations to my blog, and am very grateful to those who have donated, but I personally do not buy DASH. I like BTC, ETH and STEEM of course!
Quick repost of a comment I made on another post and feel it is relevant here. "I managed to get on the Dash train and got out at over $100. It has been crashing ever since so I made the right call. I feel it is now time to invest in the coins for the medium to long term. I am not one to trade too much. I prefer to seek solid foundations. The coins with infrastructure, long term plans and the financial support required to implement the development as the ones to hold. Dash will bounce back as it has these things but who can really say what will happen. The energy of economics is also driven by emotion. The bankers coins will go up and hard as they will be seeking that legitimacy. We may as well ride the wave and then make the call when and if to exit. Seek to still support the decentralisation of our monetary system via specific coins however use this time wisely to make the best positive returns for you and your family. That is all we can do as I have said we are still in the very early stages of the "S" curve and this is where huge profits will be gained (succeeding coins with faith) and lost (failing coins with no faith). It is just matter of choosing your spread and getting out at the right time. Profit is profit. In 3 - 5 years time the 'genuine' leading coins will be a little more clearer. It will then evolve again from there no doubt as the race to implement new technology and end user functionality becomes the main focus. Exciting and terrifying all in one. :)"
It will crash for a while and then come back. Once enough people are behind something and there is at least some economic model behind it (i.e. it is not DOGE) the long term future is pretty much as close to assured as you can get.
It is my personal belief that a lot of the money that flooded into DASH causing the parabolic rise in price was based on emotion and hype. I agree, there will be continued downward pressure , price bottom, price rise and possibly price stability. I do not know the ins and outs of DASH enough to determine it's long term future based off the economic model. You could very well be correct! Thanks for your input.
It is a crazy time in crypto for sure. I hope it continues and we get a further Steem pump.
Crazy and exciting! I am very bullish on STEEM! I am going to try and get a post out about it in the next few days.
Can I ask, what do you recommend doing with SBD atm?
Not sure I haven't really kept an eye on it. If it did go up significantly again (like a few days ago) I would sell.
I just don't know if I want to buy more STEEM or speculate in another crypto.
https://steemit.com/crypto/@cassidyandfranks/sbd-thirds-rule-trading
I'll buy back in when it gets to the twenties.
Sounds about right ;)
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