The DASH bear trend
DASH versus Bitcoin on weekly log chart.
2020 has been a very strong year for Dash so far, but despite that Dash is still in a bear channel its been in since 2018 or earlier. Back in January Dash almost broke above but ultimately ran out of momentum on that occasion.
To break such a very strong resistance, DASH need more than one time. Soon, DASH will break it, officially, and begin its new bull run phase. Momentum comes and goes away, but for crypto market the momentum has been accumulated (since latest dump) and become much stronger last week.
In the wake of covid 29 pandemic, the economy is probably heading into a great depression. Dash, and all cryptos and gold and silver should do very well as FIAT turns to toilet paper. Actually that might be a handy use for fiat given the shortages of toilet roll.
Back to the Dash versus Bitcoin pair will Dash be able to start a new bull trend against bitcoin ? In short who knows?
The pandemic affected all but among many markets, crypto market has recovered at the best rate.
But some factors to weigh in.. Dash has continued to innovate with Dash Platform now released, we should hopefully see some great new features starting to appear in the Dash ecosystem. Like the long promised decentralised user accounts and usernames things like that giving an experience much friendlier for crypto noobs. Dash should be implement full functionality including privatesend on light wallets. Chainlocks and instantsend give an immutable blockchain in seconds.
The upgrades and new products from DASH contributed to its rally last week but in the long run, we even have better support, from globally communities of DASH. It takes the last 3 years to build such global communities. Soon we will see results from communities and momentum will be increased by them.
