With Bitcoin on a roller coaster ride, cryptocurrency enthusiasts are paying attention to other digital coins with promising futures. This is evident from the numerous gains posted by other currencies in the past few months, including DASH.
Now that Dash is almost 50% up in December and more than 10,000% in the year, what is the Dash price forecast for 2018?
As the December Dash news shows, the digital currency has been making impressive gains, and it seems to be inching its way toward higher peaks. What is important for the Dash price forecast is that it retains its level of around $1,000. If it breaks that, there could be a short-term downfall.
What is more important, however, is the utility of Dash in the real world. Once the hype surrounding the crypto space cools down, there may be a focus on the real-world applications of these digital currencies.
Bitcoin has recently run into problems surrounding payments and transfers on its congested network. Dash could change this. There are a number of reasons why Dash could be the favored cryptocurrency in the coming year.
How Is DASH Different?
Dash was launched in January 2014, primarily to enable private and anonymous transactions. Later in the year, it adopted the mission of being a fast and feature-rich payments ecosystem.
Dash is built as the digital cash that users can spend anywhere. Using Dash, people can make instant, private payments online or in stores with its secure and open-source platform, which is hosted by thousands of users around the world. It offers greater privacy with a feature called “PrivateSend.”
Dash is a one-of-its-kind, self-governing, and self-funding protocol, where everyone has the ability to propose projects directly to the network. Whatever can be done to improve Dash and make it grow can be funded. The incentives and regulations on the Dash network are better than those of most cryptocurrencies.
Bitcoin Troubles May Be Positive for DASH
The problems surrounding Bitcoin have been public knowledge for a while now.
The Bitcoin community has been facing challenges related to Bitcoin fees and transaction speeds. People have been sharing tweets that they have had to pay fees as high as 40% to move their BTC coins. The transaction time has also been going up.
This has been leading to debate within the community as to whether the size of the blocks should be increased. A proposed change to the SegWit2x protocol was canceled at the last moment. Ripple CEO Brad Garlinghouse had earlier stated that Bitcoin is not well positioned to solve its payments problem. (Source: “Big transaction fees are a problem for bitcoin – but there could be a solution,” CNBC, December 19, 2017.)
Although there might be a solution in the future to take care of these challenges, there is a high probability that digital currencies like Dash will become more popular.
Advantages of Using DASH
Dash appears to be an attractive option in this state of rising network congestion and fees. In the latest Dash news, Dash released its 12.2 update in early November, thereby increasing the block size and lowering fees. Several changes have been brought about so that Dash can continue to be used as an efficient long-term payment system.
As a payment-focused network, Dash continues to maintain low transaction fees. The update has brought about a lot of changes related to scaling and usability. The two-megabyte block size increase has doubled the on-chain capacity and has decreased the fees tenfold. Also, many improvements have been brought about to PrivateSend, which uses an innovative process to provide financial privacy to users. (Source: “Dash 12.2 Update Doubles Block Size, Lowers Fees, As Bitcoin’s SegWit2x Fails,” Dash Force News, November 9, 2017.)
These are the factors that will influence the Dash price forecast and determine how high DASH goes in 2018. If it can continue to improve itself and be the payment network it promises to be, maintaining its advantage in transaction costs and speed, it should continue to become more popular and attract higher attention from crypto enthusiasts.
Dash Price Forecast
At the start of 2017, one DASH was selling at around $11.00. Today, it is trading at more than $1,000. The point to note is that it is the first non-Bitcoin cryptocurrency to breach the $1,000 barrier. There is a high probability that DASH will continue to move higher to new peaks as it proves its utility in the real world.
Given the immense amount of speculation in the cryptocurrency market, it is hard to find the values of different digital currencies. Ultimately, it shall boil down to their usability and convenience, which will take some time.
The Dash team is focused on making the usage of its digital currency so simple that even grandmothers can use it. And that means a lot.
If Dash is able to prove its worth in the ever-crowding crypto space, there is no way but up for DASH, no matter how high the short-term volatility may be. For those who believe in its promise, DASH is the cryptocurrency to consider in 2018.