With Bitcoin on a roller coaster ride, crypto 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 seems to be inching its way towards higher peaks. What is important for 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 application of these digital currencies in the real world. Bitcoin has run into problems recently, 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-store using 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 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 regulation on 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.
Bitcoin community has been facing challenges related to Bitcoin fees as well as transaction speeds. People have been sharing tweets that they have had to pay fees as high as 40% to move their BTCs. The transaction time has also been going up. This has been leading to debate within the community as to whether the size of blocks be increased. A proposed change to SegWit2x protocol was canceled at the last moment. Ripple CEO Brad Garlinghouse had earlier stated on CNBC that Bitcoin is not well-positioned to solve the 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 future to take care of these challenges, there is a high probability that digital currencies like Dash would become more popular.
Advantages of using DASH
Dash appears to be an attractive option to 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 the fees. Several changes have been brought about a so that Dash continues to be used as an efficient payment system long term. And as a payment-focused network, the focus continues to remain on maintaining low transaction fees. The update has brought about lot of changes related to scaling and usability. The two-megabyte block size increase has doubled the on-chain capacity and the fees have decreased by ten times. 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)
And these are the factors which shall influence Dash price forecast and determine how high DASH goes in the year 2018. If it can continue to improve itself and be the payments network it promises to be, maintaining its advantage in transaction costs and speed, it shall continue to become more popular and attract higher attention from the crypto enthusiasts.
Dash Price Forecast
At the start of 2017, one DASH was selling at around $11. Today, it is trading at more than $1,000. The point to note is that it is the first non-Bitcoin crypto currency to breach $1,000 barrier. There is a high probability that DASH shall 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 shall take some time. The Dash team is focused on making the use of the digital currency so simple that even grandmothers would use them. And this 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.
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