Even though this past weekend didn’t offer too much crypto market excitement, it would appear things are heading in the right direction again. All of the top markets have noted small to medium-sized gains at this time. The Dash price, while often overlooked in this volatile industry, has noted some significant gains in the process. In fact, it is the most bullish market in the entire market cap top 75.
Dash Price Trend Takes Traders by Surprise
It is evident a lot of eyes are still on Bitcoin’s price momentum first and foremost. Not necessarily because a further bearish trend is expected, but it will dictate the pace of all alternative markets for quite some time to come. In the case of Dash, it doesn’t seem to rely as much on Bitcoin as some other markets. However, a bullish surge in BTC can easily trigger a lot of excitement for alternative markets as well. As Bitcoin is now up by nearly 1%, it is only normal the altcoins, assets, and tokens show signs of life.
Over the past 24 hours, the Dash price has risen by 12.65% in USD value and 11.6% in BTC value. Those are phenomenal gains, especially when considering the new week has only just begun. With a current value of $114.83, or 0.0278 Bitcoin, Dahs seems to be doing the job just fine. Its trading volume is also picking up a bit, as over $347m worth of Dash has changed hands recently. If this level of trading can remain in place, there will be some further interesting momentum to look forward to this week.
Although there isn’t too much news regarding Dahs, there is a recent community Q&A which has been shared with the rest of the world. In terms of communicating with their community, the Dash team certainly has positioned itself quite well. Updates like these tend to keep people engaged and interested at all times. It may not affect the price by any means, but it is still good to see the transparency being maintained.
Due to the lack of actual news, it is only normal to expect a lot of people looking at the price charts right now. The Dash chart introduced by Endoryan shows there is some promising momentum taking shape right now, although nothing is ever certain in this volatile industry. As promising as things may look right now, there is always a chance the momentum will sour when people least expect it. For Dash, such a downfall seems rather unlikely, but there is always a chance something will occur.
For those traders who prefer to explore different ways of making money, Dash is part of an ongoing loop arbitrage option with a profit potential of up to 19%. It involves using Livecoin and OKEx, which are not necessarily the worse exchanges by any means. However, there may not be too much liquidity to make major profits either. As such, looking into this opportunity is worthwhile, but no one should expect to make thousands of dollars from this trade.
When looking at the bigger picture, there may be plenty of upward momentum for all markets throughout the day. As long as Bitcoin doesn’t fall off a cliff again, there is a genuine chance this may be the beginning of a slightly extended bull run. For Dash, a push to $115 will occur pretty soon, but noting gains beyond that point may prove to be somewhat difficult. In terms of Dash/BTC, a push to 0.028 BTC is not out of the question.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.
Source: Read Full Article