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Dash Outperforms Bitcoin as Markets Seek Recovery

Avatar newsbtc 1 year ago

It’s Invest Diva’s  Kiana Danial https://www.investdiva.com/ with NewsBTC and here’s today’s cryptocurrency update. We saw a bit of a relief across the board in the market on Wednesday, with Dash coin (DASH) becoming one of the top gainers in top 20. Its value against the USD surged over 8% after Monday and Tuesday’s selloff. Versus Bitcoin, Dash started gaining a bullish momentum earlier, on Tuesday, and the two-day rally has added up to an over 10% gain. This shows Bitcoin has had a slower recovery while Dash has been dashing up, reaching the lower band of the daily Ichimoku cloud. However, it may still be too soon to celebrate because the future Ichimoku remains bearish, and DASH/BTC needs to pierce through the cloud and break above it before we can confirm the crypto has bottomed out. Furthermore, even before the most recent cryptocurrency selloff started last week, DASH/BTC was consolidating below the 23% Fibonacci retracement level of 0.030. Keep in mind that for Dash coin value to continue in an uptrend, Bitcoin needs to continue getting weaker against the DASH token. Ranked number 11 based on market capitalization, Dash is dubbed for digital cash you can use to make instant, private payments. You can use Dash coin on different categories of merchants like VPN providers, web hosting services, business services, games, online casinos, and web stores alike. On the fundamentals side, on November 16th, a Dash group researcher discussed the scalability of Dash InstantSend on Reddit, claiming that the network can process more instant send transactions than will fit into blocks” and therefore doesn’t need a stress test as of now. Now I’d like to hear from you, not only about your general view on the crypto market but also specifically about Dash. Do you think Dash can outperform Bitcoin for much longer? What are your views on the Dash network? Let me know in the comments, and subscribe for more updates!

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