The crypto market is still in bear territory with periodic rallies in between downtrends. However, the worst seems to be over, since the heavy drops that characterized the market a few months ago have declined. The market seems to be entering into a long-term consolidation phase, and with all the developments that are happening in the market, it is highly likely that it could be followed by a bull run. One crypto that could make significant gains in the next Bull Run is Dash coin (Dash). Dash coin is currently trading at $180, a pale shadow of its December highs of over $1500. However, it stands a good chance of hitting these highs again. Several factor support the possibility of this happening.
Firstly, Dash coin (Dash) has gained significantly in terms of merchant adoption in the last 9 months. Latest figures shows that Dash coin has more than 3000 merchants, with a majority of them in Venezuela. This increase in the number of merchants accepting Dash coin (Dash) is a big deal. That’s because growing merchant numbers create a loop that will lead to an increase in consumer adoption.
Once consumers come across “Dash coin accepted here” labels constantly, they will start taking an interest in it. This in turn will spur the demand for Dash as a form of payment by more merchants. This will in the long-run push up the value of Dash coin as it becomes a standard form of payment going into the long-run. Pointers to this increased adoption is the latest figures, which show that Dash coin (Dash) is way ahead of the lightning network in terms of adoption.
Secondly, Dash coin (Dash) has already proven to be a viable alternative to fiat in times of crisis, and that’s a big deal. Dash coin has been heavily adopted as a currency in Venezuela, a country that is currently experiencing hyperinflation. It has been quite helpful to the people of this country. This precedent that Dash has established could come in handy to the long-term growth of this coin. That’s because with the current climate in global trade, many more economies could face similar circumstances as Venezuela.
The U.S is raising interest rates, and as the effects of the current trade wars start to take effect, more economies will face problems in the future. This means that there is the potential for citizens of more countries with failing currencies to start looking to Dash coin (Dash) as an alternative currency. This makes Dash a high potential coin with good chances for growth going into 2019 and beyond.
Then there is the fact that Dash coin (Dash) has an organization behind it that handles marketing. This means that they can push for the adoption of Dash coin (Dash) through marketing in different countries. When combined with Dash coin’s core capabilities, a strong team behind Dash coin (Dash) will add to the impetus for growth going into the long-run.
With all these factors at play, Dash coin (Dash) has a good chance of making it back to over $1500 pretty soon. The future looks great for Dash coin going into 2019. It could be among the cryptos that lead the next Bull Run.