No digital asset can compete with Dash’s ‘InstantSend’ transaction speed. Dash allows merchants to receive payments instantly, making it no different than debit and credit cards, in a way. Dash’s correlation with Bitcoin will have much effect on its relationship with the US dollar, since the two have been seen to have a linear relationship.
On November 23, 2017, Dash surpassed Litecoin and took the fifth place in the crypto market, with a strong $4.3 billion market cap. A day later, it settled just below its new all-time high, at around $564.98. At the start of April 2018, Dash/USD surged 11% over a period of 24-hours, with Google banning crypto mining extensions on its browser, Chrome. On April 24, 2018, current market analysis put Dash at a value of $524, with growth of 11.36% in 24-hours.
On May 10, 2018, Dash was added to Texcent’s subsidiary application, Paycent, which made the Dash/USD surge over 5% in 24-hours. Of course, Dash was started as a non-profit and was backed by little marketing. Its adoption was slow as a result, yet as it increasingly seeps into the mainstream markets and becomes well-known with investors, its value against the might US dollar might surge.
The US dollar is a critical element driving the world economy and affecting currency pairs. Therefore, understanding the factors that influence it is absolutely necessary.
This report is released by the US Census Bureau and the Bureau of Economic Analysis (BEA). It helps analysts understand the latest export and import activity in the country. When a trade deficit is declared, the US dollar generally weakens, as foreign goods gain higher demand than indigenous ones, which enhances the value of non-US currencies against the dollar. Remember, the US is the largest importer of oil in the world. Oil supply and demand has a critical place on this report, with oil prices affecting the US dollar.
The total monetary value of all services and goods created in a certain time period is the GDP. A higher GDP can lead the Federal Reserve to increase interest rates, which means foreign investors will flock to the US. As a result of this, the US dollar will strengthen.
Lower inflation means that the value of US goods and services in the global market is increasing. This could also lead to the Federal Reserve increasing its rates. Inflation and interest rates are hugely connected to a country’s image, globally. US foreign policies and political stability with regards to wars, immigration, terrorist attacks and such like all have an effect on the US dollar – and therefore the USD/Dash currency pair. The election and popularity of the US president plays a key role too.
Overall sales of American retail goods and services over a certain period of time are reported by the Department of Commerce and Census Bureau. The report indicates the economic health of the country, which has an effect on its currency.
Traders around the world wait for this report, released monthly by the US Department of Labor, which shows unemployment levels. In case unemployment is higher than expected, a slower economy is indicated, along with lesser consumption. In such circumstances, foreign investors buy back their local currency, bringing down the value of the US dollar.
The price of Dash, as of May 2018, is around $372. The forecast for the price through 2018 is around $1,600. The forecast for the next 5 years is around $5,200. If these predictions pan out, Dash holders could be in for a decent profit. These price predictions are based on an average of the major analysts in the marketplace. Blackwell Global does not endorse these predictions and does not provide advice.
There is good overall potential in this cryptocurrency. With almost 4,500 servers located around the world, the transactions are secure and very private. It has already collaborated with various payment programmes. As long as the company can collaborate with more merchants and payment processors, there is scope for steady rise in its token value. This would also help investors in the cryptocurrency.
However, like other cryptocurrencies, the Dash market could be highly unpredictable too. When you are investing in altcoins like Dash, do so after complete research in the company’s credibility.