Is Dash leading the race to Altcoin season?

[JessicaVL]

Bitcoin has a whopping 65% dominance over the cryptocurrency market - which means that when Bitcoin is strong, altcoins thrive



Over the last few days, Bitcoin has rocketed up to $10000$, with altcoins such as Dash following suit. In the past few weeks, for example, Dash was up a whopping 32%, overtaking Monero as one of the top 10 coins at a certain point.

What is Dash?

Dash is a cryptocurrency. According to eToro, “Unhappy with the transaction speed of bitcoin, Evan Duffield decided to found his own coin, seeking faster transaction speeds and more privacy.” Like Litecoin, Dash aims to fix some of the issues seen on the Bitcoin blockchain. Dash has a total supply of 18 million DASH coins, and a market cap of $1,117,521,576, at the time of writing. It’s placed in the top 20 coins according to CoinMarketCap.

https://www.youtube.com/watch?v=S0oNO3mbBE8&t=40s

Dash is leading the way

Since January 10th, 2020, Bitcoin has seen a rally from $7,700 to the current price of $9,794.70.

The Relative Strength Index (RSI) can help us identify a bull or bear market. A value above 55 indicates a bull market, while under 55 indicates a bear market. Bitcoin is currently sitting just below 55, so it hasn’t entered a bull market at the macro level yet.

However, Bitcoin’s surging price is pulling altcoins up alongside it. Dash is up a remarkable 32%, and seems to be leading the pack. The coin hit $136.51, the highest it has been since July 2019. While it’s currently sitting at $120, that’s still around 30% higher than it was a couple of weeks ago. Dash is now sitting at 17th place on the global cryptocurrency market ranking.

https://twitter.com/novogratz/status/1217450277609132032?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1217450277609132032&ref_url=https%3A%2F%2Fwww.crypto-news-flash.com%2Fbitcoin-moving-sideways-dash-monero-augur%2F

What’s driving Dash’s surge is somewhat of a mystery. FXStreet recently reported that internet outages in Venezuela are helping to support Dash adoption, because it can be sent and received via SMS. However, various Twitter users have also highlighted the Dash Evolution rollout as a possible factor, after it brought major changes to the ecosystem:

Terry Langston noted, “Dash Evolution rolled out huge (3 yrs in development) Name-based transactions that are private/secure. Dash DAPI platform & Dash Decentralized Storage utilizes leverages Dash decentralized PoService & PoW infrastructure (game changer). Dash Investment Foundation New Board member.”

Dash also has the ability to complete private transactions, which is becoming more and more of a concern for the contemporary crypto holder. Privacy coins like Monero are increasing in popularity, and it’s likely that something like Dash will follow suit soon.

From a technical point of view, Dash is overbought on all timeframes. The coin is likely vulnerable to a correction, though this is an incredibly volatile market so that’s not guaranteed.

However, Dash may not retest the recent high of $136,50. The next resistance is $186,50, which is the recovery high of 2019. So, is Dash leading the race to altcoin season? It seems like it at the moment - however, the market is volatile so things can change at any point.

Alts follow Bitcoin

Is Dash leading the race to altcoin season? At this point, yes. However, alts are following Bitcoin at the moment, and if the OG coin takes a dip, we’ll likely see the rest of the market plummet. It’s also a good idea to keep in mind that we’re expecting the Bitcoin halving in May 2020, and that will likely herald a major bull run for the entire market.

Whether or not Dash will lead that race remains to be seen, but it’s likely that we’re going to see some enormous shifts in the market. Take a good look at the top 20 ranking, because when the bull run hits things are going to change in a big way.

https://en.cryptonomist.ch/2020/02/09/dash-leading-altcoin-season/

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[mahilchii]

Obviously, dash coin has been one of the top performering altcoin this year. Every one are witnessing the bullish movement of DASH coin and yes it is slowly increasing its market capitalisation also the transaction speed of DASH coin makes unique where it allows instant transaction also I went through an article and came to know from may 2019 to Dec there is a massive growth of 562% which is really a big number, guys trust me this coin will become top 5 alts in the crypto market very soon, I am sure it will give you big returns if someone is interested to invest.

[GucciBoy]

Dash made a pretty big correction, but so did a lot of alts recently.
A project similar to DASH, at least just as old, and with a circulating supply at about the same range is BLOCK.

Blocknet gained 300% over the span of a month, which is pretty awesome, but well expected considering what they've achieved as of lately, if you choose to follow the project.

Their work on decentralized oracles, read more here: https://blocknet.co/introducing-xrouter-developers-can-now-mix-and-match-any-blockchain-via-the-worlds-first-blockchain-router/

And their DEX, which they where the first project to release, actually prevented them getting on Binance, (Due to Binance not wanting competition, lol).

ARK is up 50% today, so overall a lot of alts is doing well as of recently.

[ansi]

Not really man, the big cryptos are kind of saturated, you need to RISK in good low market cap alts & crypto in you're looking for some 10x ROI.
You can make an easy x5 gains or even more with a promising project than making it with BTc, ETH, or Dash or whatever. YES there is a risk involved, but this is how it is, no more 2017 Bull run again unfortunately, people learned that the hard way back then.

[ZeeeN]

you can use dash to be indicator for Alt season.

around 2-3 time when Alt season come Dash price will rise first.


but this year im not sure dash will do this again like last month indicator is bitcoin sv.

[moonblocks]

Just because this asset had a moderate appreciation recently doesn't mean it will lead the market when alt-season finally arrives, but the good news is most top quality alts should stand out when the alternative market eventually picks up some much awaited momentum

[jerrison]

dash coin has in doubt been amongst the top rated coin and has solved a bit of the challenges faced by bitcoin and also its total supply has also contributed to its proffered solutions as it has a very limited supply compared to bitcoin but its prices has  not been up as sompared to bitcoin. loads of market forces maybe tied to this but in my own opinion, i believe dash coin has a bit of good use case, yes, but don't see it takin the lead amongst cryptocurrency, whether it be bitcoin or other altcoins.