Is Dash now Trash?
Dash seems to have lost half its value in only a few days
Dash went from over 0.100 (BTC?) on 3/25, to recent 0.047 // see charts: xx
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Mar 3, 2017 - At the price of US$46.09 per coin, the total market cap sits at ... However, some people were betting the Dash price would crash and opened ...
The past 48 hours have proven to be quite intriguing for anyone involved in the Dash cryptocurrency. With prices spiking to a new all-time high yesterday afternoon, things got off to a good start. Albeit Dash has seen a small correction ever since, the price per individual coin still hovers around the US$46 mark. Dash is now the third-most valuable cryptocurrency in existence.
A Good Time To Be Involved In Dash
People who have been holding onto their Dash for some time were more than happy to see the recent price increase take form. With the value increasing by 450% over the past few days, it is evident the demand for privacy-centric altcoins is bigger than ever before. Dash has been around for several years now, yet never saw such a spectacular price increase up until the past two days.
All of this positive momentum has catapulted Dash to the third rank on Coinmarketcap. To put this into perspective, Dash is now the third-biggest cryptocurrency based on their market cap. At the price of US$46.09 per coin, the total market cap sits at US$328,782 million. That is quite an impressive feat and it allowed Dash to bypass Ripple, which has been the third-largest market cap for quite some time. Dash is still a long way removed from overtaking Ethereum, though, as there is a US$1.5bn gap between the two right now.
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One Reddit user explained how the parabolic rise of Dash can be attributed to the Poloniex exchange. On this cryptocurrency exchange platform, users can lend out their Dash balance as a way to generate passive interest once the money is repaid. Using leverage to margin trade has been one of the primary reasons why Poloniex became the number one altcoin exchange in the world today. Users borrow cryptocurrencies from others and bet on which way the market will evolve.
Considering Dash saw a bullish trend, a lot of traders aimed to borrow funds to open long positions on the Dash price. However, some people were betting the Dash price would crash and opened short position, which requires a Dash balance to do so in the first place. With the demand to borrow Dash on the rise – a lot of people expected a price crash – the number of bitcoin flowing into the market exploded exponentially. It was impossible to open shorts due to lack of Dash, hence the bullish price trend could be maintained without problems.
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Altcoins Will Burst, Dash Will Crash: Vinny Lingham - CoinTelegraph
Mar 14, 2017 - Cointelegraph asked him to explain that and he said Dash price is going to crash. March has been an exciting month for Dash with so many ...
The Crypto community was gripped with fear, uncertainty and doubt when the Winklevoss Bitcoin ETF was rejected by the SEC on Friday. Many thought it will lead to prices falling and another Bitcoin price burst. On the contrary Bitcoin price resisted right after the decision and it is actually stable.
Strangely, altcoin prices are rallying with some coins like Dash and Ether almost doubling their prices and some upsurging as high as 150 percent. In fact, their Market Caps are nearing $25 bln and the top 10 for instance in the first two days after ETF outcome did not witness any depreciation.
Will it affect Bitcoin?
When Cointelegraph asked Lingham whether the development will have any impact on Bitcoin whether positive or negative, his answer was: “Not fundamentally.” However, he thinks what can pose a serious quandary to Bitcoin is the argumentative impending hard fork and that if it happens, then the community should forget about seeing Bitcoin at $3000 by the end of 2017.
On this note, Tuur Demeester of Adamant Research agrees with Lingham and stated that a contentious hard fork would likely cause chaos in the market but yet still Bitcoin will close 2017 above $1000.
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13 hours ago - The price of DASH had been hovering slightly below or slightly above the $10 mark for several months leading up to the… by digicrypt.
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