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Dash (DASH) Price Analysis: Investors’ Confidence has Taken a Hit after Dash Theft; Bearish Market Ahead

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Dash (DASH) is a cryptocurrency aimed towards instant transactions and privacy of its users. It is based on a complete decentralized platform. It was previously known as Darkcoin because of its concealing identity nature. It is operated on its own network called, Darksend. It also relies on InstantX technology, which facilitates instant transactions. This technology also makes it impossible for the users to track any record of the movement of value.

Current Statistics

Dash (DASH) is ranked 13th in the global crypto market with respect to its Market Cap.
The ROI (Return on Investment) stands at more than 9000%.
A total of 8,792,304 DASH coins are in current circulation.
The market cap as on 06th May at 05:24 UTC is 1,051,514,249 USD.
The value of each coin stands at 119.59 USD and 0.02091465 BTC.
The 24h volume stands at 274,475,544 USD.

Comparison
Dash (DASH) started the year at 79 USD price level. It has shown some restraints initially and fell back to the lowest at 65 USD in a month. However, it got again on its feet soon. The major growth was achieved after the 1st April market boom. It gained 33% of its value in just 3 days. However, the coin is under price correction now. The market cap on 06th April was 1,159,676,343 USD. The value of each coin stood at 132.76 USD and 0.02639356 BTC. The current market cap is 9.32 % less than the market cap of 06th April and the value of each token has decreased by 9.92 % in these 30 days.

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The 1day value of Dash coin has not been to many inconsistencies. The range of Dash coin in the last 24 hours was 120 USD to 117 USD.

Prediction
It should be reported here that Dash Coin is one of the most used crypto coins in Venezuela and Colombia along with its peer Bitcoin. But there is a recent incident of crypto theft where an Israeli citizen was alleged of stealing 75000 Dash coins. This has affected Dash coin’s market immensely. Owing to this, we predict the coin’s value to degrade further to 100 USD level. The investors’ confidence has taken a hit. After this phase, the coin will rise with resistance at 110 USD and 115 USD. By the end of 2019, the value should be somewhere around 175 USD.

Conclusion
We advise the short term investors to wait for the right time for buying. Selling the coin in the next 1 month would not be very profitable.

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