• DASH is an open-source blockchain token that started the year with a bullish sentiment, rising 52% in the first month.
• Bears have been attempting to keep it stunted at $53, but the token has regained all ground lost between May and November of last year.
• In the first week of February, bears are delivering a good fight that has limited investor profits thus far.
DASH Price Prediction
The crypto market began 2021 with a strong bullish sentiment, which led to Dash (DASH) gaining 52% in its value during its first month of trading. Despite some attempts by bears to keep it stunted at $53, DASH regained all ground lost between May and November of last year. In the first week of February, however, bears have delivered a good fight that has limited investor profits thus far. At the time of writing, DASH price was auctioning for $61.84 after losing 0.91% on the last day with a live market cap of $685.7 million bringing it to #67 on CoinMarketCap.
Bitcoin Lead
As a result of Bitcoin’s (BTC) lead starting January 1st this year, many altcoins have followed suit increasing the total crypto market cap above $1 trillion for the first time since September 2022. Dash is one such token that has seen an increase in transaction volume suggesting investors are taking long positions in anticipation for further gains.
Dash Network Structure
Dash was originally forked from Bitcoin in 2014 and features two layers – TIER 1 and TIER 2 – as part of its network structure designed to enhance transaction speed and privacy. The first layer consists solely of miners who add new blocks while TIER 2 includes master nodes and full network nodes that execute anonymous instant transactions as well as providing decentralized budgeting services based on Proof-of-Service principles .
Targeted Gains
At current prices DASH is looking to target 35% gains in order to record new range highs; however analysts warn investors against being too optimistic given current market conditions both technical and fundamental wise which could put potential gains into jeopardy if not managed properly .
Conclusion
Dash continues its bull run despite efforts from bearish traders trying to limit any potential profits from investors due to volatile market conditions both technically and fundamentally speaking . With this said , investors should be cautious when making their investment decisions as anything can happen at any moment depending on how these factors shift over time .