It appears the Dash price has overcome its major struggles earlier this week. More specifically, it looked as though the price would dip below US$300 by a substantial margin just a day ago. Today, that same Dash is valued at US$315 once again. This proves the market is rather resilient, especially considering that the value was US$291.77 late last night. Whether or not this is just a temporary trend or a sign of more positive things to come remains anybody’s guess for the time being.
Dash Price Returns to the $315 Mark
It is always remarkable to see how cryptocurrency markets evolve over time. What seems to be a positive trend one day can lead to heavy losses the next and vice versa. There are no guarantees in the world of cryptocurrency, and the current Dash price action only further confirms that fact. Just last night, the Dash price dipped below US$300 for the first time in a long time, which surprised a lot of people.
Whereas some traders saw this as a sign that the Dash price would crash, things turned out very differently in the end. In fact, this brief dip created a buying opportunity for people who were looking to purchase Dash at a slightly cheaper price. The people who successfully did so have already made a profit of over US$20 per Dash in the process. This shows that anyone in the world can make good money by buying and selling cryptocurrencies, assuming you do your own research and not just believe every TA chart in sight.
One thing that is still somewhat troublesome is that the Dash trading volume remains incredibly low right now. More specifically, there is only US$41.74 million in 24-hour volume, which is not spectacular by any means. Then again, even this low trading volume was enough to push the Dash price back above US$300 million, which shows there are some more gains on the horizon. Then again, the cryptocurrency market is highly unpredictable, and no one knows for sure what the future will hold for Dash or any other cryptocurrency.
The vast majority of current Dash trading volume originates from the Bithumb exchange. This is nothing new, even though most of the pump-and-dump cycles on Bithumb have caused considerable market instability in the long run. Right now, it seems Korean traders want to push the Dash price to US$320 in the near future, but it remains to be seen if other exchanges around the world follow their lead. It is interesting to see WEX included in the top 6 Dash exchanges by trading volume, considering this rebranded BTC-e service only launched recently.
Whether or not things will continue improving for Dash moving forward remains to be seen. There is still a lot of work to be done before Dash can claim the value of US$300 as a stable floor, mind you. Cryptocurrency markets will always remain subject to severe volatility, and Dash is no exception in this regard whatsoever. What might be considered a solid value increase today may be all but forgotten just a few days from now. Indeed, this same principle applies to all cryptocurrency markets.
It will be interesting to see what the future brings for the Dash price. If the trading volume picks up a bit, maintaining the US$315 value will not be much of a challenge. However, it is impossible to tell what will influence this particular market over the coming days and weeks. A lot of positive things are happening for Dash right now, and that momentum will eventually have an impact on the price.