It would appear most cryptocurrency markets are part of a sea of mediocrity right now. No real changes are noted across the board, resulting in a rather lackluster trading momentum affecting Bitcoin and altcoins alike. One interesting exception is the Dash price, which still notes some positive growth. If this trend keeps up, one Dash should be worth $200 or more before the day is over.
Dash Price Improves As Others Falter
In the world of cryptocurrencies, most altcoins are linked to Bitcoin in terms of market momentum. In some cases, that situation tends to change out of the blue. This particular time, the Dash price is rising swiftly, whereas Bitcoin and all other top cryptocurrencies continue to lose value at an accelerating pace. Although such momentum is not entirely uncommon, it shows interesting things are taking place behind the scenes.
Although it is unclear why this trend is materializing right now, it shows cryptocurrencies are far more complex than most people assume. Instead, markets tend to behave independently from one another on multiple occasions. An effective decoupling between Dash and Bitcoin is not expected to take place in the near future just yet, although this current trend is pretty intriguing regardless.
It is possible this current dash price trend is influenced by the ongoing marketing push across Venezuela. Unlike other cryptocurrencies, Dash seemingly gains traction in this poverty-stricken nation. Whether or not that will make Dahs more appealing or has the potential to influence its price in a significant manner, is very difficult to predict first and foremost.
There is one bit of positive news which can explain a surge in Dash popularity. A new traveling website, which goes by the name of More Stamps Global, has successfully integrated cryptocurrency payments recently. Their list of supported coins includes Dash, Bitcoin Cash, Bitcoin, Litecoin, and so forth. It is another example of how cryptocurrency adoption by merchants is on the rise, even though this market remains rather small, for the time being.
Unlike most other cryptocurrencies, Dash isn’t suffering from a decrease in 24-hour trading volume. In fact, the altcoin is noting a rather high volume given the current circumstances. With nearly $270m in volume, the demand for this altcoin is intensifying as more time progresses. This will undoubtedly lead to a few more gains in the Dash price department, assuming this trend holds up.
Because of this uneasy cryptocurrency market momentum, it is very difficult to make accurate Dash price predictions. It is certainly possible things will continue to improve from this point forward, albeit the reversal can happen as well. For Dash price watchers, $200 remains an important target, although maintaining that level will always be a challenge.