Bitcoin might be the largest cryptocurrency in the market today, but it certainly is not free from limitations. As the first decentralized blockchain, Bitcoin has become all the rage in the market. But is the hype about Bitcoin justified? With the surge of altcoins in the crypto space, there are many options available to the investors, which might challenge Bitcoin’s ascendancy.
Speaking of viable contenders in the market, Dash is definitely a currency to watch out for. Functional since January 2014, Dash attracted the investors’ attention from its very inception. Dash (DASH), which ranks 13th by market capitalization, has already broken into the $1 billion club. In addition to a lightning fast transaction speed, which has been Dash’s main attraction, the cryptocurrency also boasts several noteworthy features, including user anonymity. This article explores some of the competitive advantages of Dash over Bitcoin.
Dash (DASH) Vs Bitcoin: Which One Is Better?
A little insight into the price trend will reveal that this year has been really critical for Bitcoin and its likes. Apart from the downtrend, which distressed many investors, the currency has seen some major challenges in the recent time. Speaking of Bitcoin’s limitations, mention must be made of its terribly slow transaction speed. The following points illustrate why Dash is a viable alternative to Bitcoin.
- Dash Is Faster Than Bitcoin:
The major drawback of Bitcoin at the moment is its notoriously slow transaction speed. In the highly competitive world of cryptocurrency, speed plays a pivotal role in trading. This is why the market has seen the surge of numerous new currencies that boast lightning fast transaction. As most investors would agree, Bitcoin’s slow transaction speed is a huge big turn-off, especially in today’s volatile market where investors need to make quick decisions. Dash, which offers its users an additional facility known as InstasSend, allows investors to execute their transaction within minutes.
- Dash Is Less Expensive Than Bitcoin:
Bitcoin’s value has gone down this year but, as the largest currency in the market, it is an expensive option. Also, it’s quite risky to invest in Bitcoin, as the Bitcoin market is quite volatile at the moment. At any rate, Dash (DASH), which is presently trading at $448.58, is a lucrative option for investors looking for a cheaper alternative.
- Dash Is Nourished by an Active Community:
Although Bitcoin has a huge follower-base, the community is at war. In the past couple of months, Bitcoin has seen some nasty forks. As you are aware of, the cryptocurrency has been divided into many new currencies, including BitcoinPrivate, BitcoinCash, and Bitcoin Gold. Quite naturally, the community has divided into subgroups, each supporting different forks. Speaking of Bitcoin forks, many investors blame these forks for the price volatility of Bitcoin. In contrast, Dash is supported by a highly functional community. Like any other currency, Dash’s community also faces critical arguments, but the efficient administrative structure enables it to offer solutions for all investment-related challenges.
- Dash’s Privacy Features Will Put Bitcoin to Shame:
As opposed to Bitcoin and other big names, which are criticised for security breaches, Dash provides users with a special security feature, wherein users can expect anonymous transactions. Dash’s privacy feature is not a default option and can be accessed on request. The best part PrivateSend, the optional security feature, is its anonymity; it is impossible to trace transactions to real-life identities.
In addition to the aforementioned facilities, Dash has developed an excellent interface which enables users to procure DASH tokens offline. While such a possibility is unimaginable with most of the currencies, Dash has managed to make a breakthrough, allowing users to carry out offline transactions.
Dash’s Price Forecast for 2018
Just like the majority of cryptocurrencies, Dash’s performance hasn’t been stable, as the first quarter of 2018 has seen a steady decline of Dash’s value. However, as per the recent price records, the price is gaining momentum in the market. Considering the critical condition of the market, making a comeback can be terribly difficult. With some major currencies trading in the trading, Dash’s positive price movement surprised the investors.
The currency, which ranks 13 by market capitalization, is available to the traders at $448.58. Much to the investors’ delight, the currency has gained 6.04% from its earlier position, featuring it among the top gainers this week. With a market capitalization of $3,616,656,589, the cryptocurrency boasts a trading volume of $90,771,900 at the time of writing.
Does the price spike signal a bull run for Dash?
The cryptocurrency, which has plunged steeply from its record high of $1,515.39 on December 20, 2017, is making slow advancements. While analysts interpret the spike as a sign of revival, it’s difficult to say what will happen with this promising cryptocurrency. If the market analysts are right, the price might just hit its record high, the $1500 price level.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Will Ripple (XRP) advocacy hike affect bitcoin dominance of China?
Currently, China is leading in Bitcoin mining industry by far, second to none for bitcoin mining power. Literally, it’s contributing over 70% of the network’s hash rate (a term that is used in describing the total processing power of a blockchain network). But how Ripple fits in here and what it has to do with that? We’ll talk about that a bit later below, let’s cover some in-depth facts about China’s dominance over Bitcoin first.
It’s a near-complete dominance by China on the BTC mining grid that has made it responsible for mining a majority of circulating bitcoins. A Beijing-based company, Bitmain Technologies, is highly responsible for extracting the significant part – more than half of the globe’s bitcoin, and alone, it has approached 50% of the total hash rate more than once.
The fact that China is controlling a majority of Bitcoin hash rate, clearly tells that it has the power of manipulating or merely destroy the bitcoin network if it gets enough support should it decide to take such a move. Therefore, this has led to serious concerns among countries including the US that China might get an edge in this cryptocurrency industry and possibly becoming a potential threat.
China is the biggest manufacturer of Bitcoin as well as cryptocurrency mining equipment. The reason behind the massive growth of mining farms in the country is because of cheap electricity bills.
Furthermore, the country has adopted several…
Bitcoin bull run momentum builds up; price breakout imminent
There is no doubt that Bitcoin is the most significant and largest success story in the cryptocurrency sphere despite the volatilities the powerful digital coin has been experiencing this year. 2018 has been a rough year for major cryptocurrencies including Bitcoin that has seen the prices of the virtual currency depreciate from a high of 20,000 US dollars in January 2018, to a low of 6,400 US dollars in October 2018.
Regardless of not much powerful performance, Bitcoin still maintains being the most sought-after virtual currency in the market. In totality, Bitcoin had a price appreciation of about 150,000 percent from its listing in July 2010 to the present day.
Bitcoins Brief Historical Evolution
In its lifetime so far, the number one ranked cryptocurrency has had its fair share of mixed bear runs, and bull runs throughout the years with the longest bear run being experienced in March 2014 and March 2015. However, in its history of up and down price progression throughout the years, gains have outweighed losses and Bitcoin has managed to record impressive highs of 20,000 US dollars as at December 2017.
As for this year, 2018 has been a nightmare for Bitcoin as its bullish gains have been low, recording shorter runs that have given rise to general losses attracting undue media attention from the general public and governments.
The Future of Bitcoin by Market Indicators
According to technical perspectives regarding Bitcoin price movements…
Institutional investment presumption to send ETH, XRP, and Bitcoin high
These days it points out that institutional investors slowly are gaining interest in the cryptocurrency domain. Practically, a real-world working model will attract institutional investors automatically from all over the globe. They will look for an opportunity to invest in the cryptocurrency industry if not necessarily in coins such as Bitcoin, Ripple’s XRP or Ethereum, and it seems like that moment is already at hand.
State of the Market
The past 24 hours have been stable for the crypto market as the entire market has seen steadiness in their trade. For that reason, the general market value has been lifted to $210.6 billion.
The state of the market has seen the price of Bitcoin go up by 0.7% to the $6,537 lifting its market cap to $113.2 billion. Bitcoin cash has stayed stable too at $466 representing a slight drop of 0.56% and the market cap being $7.7 billion.
Also, Ethereum price dropped 0.59% to $205.87 giving it a market cap of $21.1 billion, and as for Ripple (XRP), a similar trend was experienced whereby it dropped by 0.15% to stand just above 46 U.S cents making its market cap to stand at $18.5 billion.
The stability in the cryptocurrencies is a positive gain as that increases hopes and chances for the institutional investments.
Genesis Global Trading says it has loaned digital assets valued at more than half a billion dollars to institutional…
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