Dash Wallet
Source: Dash Facebook

Dash Crypto Falls 90% From Peak—Should You Buy the Dip?

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Jul. 23 2021, Published 8:25 a.m. ET

If you want more than a meme cryptocurrency that could explode and might be great as a long-term investment, Dash crypto is worth a look. What is Dash crypto's price prediction and is it a good buy now?

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Dash crypto's price of $140 shows that the altcoin has dropped more than 90 percent from its all-time high of $1,642 reached in December 2017. Before you buy the dip, it will help to be familiar with this cryptocurrency.

What is Dash crypto and how does it work?

Dash is an organization that provides financial services using blockchain technology. Its main focus is making global payments fast and cheap. The technology is marketed to both consumers and businesses.

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dash crypto
Source: Dash Facebook

The organization’s official cryptocurrency is also called Dash and it’s a spinoff of Litecoin, which is itself a Bitcoin fork. Initially, Dash went by the name Xcoin when it launched in 2014. It rebranded to Darkcoin before taking on its current brand in 2015.

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Is the Dash crypto supply capped?

There are a little more than 10 million Dash coins in circulation. The crypto’s maximum supply is fixed at 18.9 million coins. Bitcoin and Litecoin also have fixed supplies. Some investors are attracted to cryptocurrencies with a supply cap since they don’t present inflation risk.

Dash crypto price prediction
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Is Dash better than Litecoin?

The Dash versus Litecoin comparison has been going on for a long time. They both have their origin in Bitcoin. Also, they share the goal of making cryptocurrency transactions faster at a lower cost. But Dash and Litecoin have evolved differently over the years.

First, while Dash has a maximum supply of 18.9 million coins, Litecoin’s supply is capped at 84 million coins. Litecoin is closer to reaching its supply limit than Dash crypto. About 90 percent of Litecoin’s possible supply is already circulating while Dash’s current circulating supply is 54 percent of the maximum. On transactions, Dash boasts a faster speed and greater capacity than Litecoin.

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Dash crypto price prediction

Seeing that Dash is still steeply below its peak but attempting to recover from the recent crypto cash, investors want to know its price outlook. The current price implies that Dash crypto’s monthly gains have averaged 10 percent over the past year.

If the altcoin can grow at that rate on a compounded basis from now on, it could close 2021 at $225, which suggests a 60 percent potential. If Dash crypto maintains that momentum, it could be worth $440 before the end of 2022, which indicates a potential return on investment of 215 percent than the current price.

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Is Dash crypto a good long-term investment?

Even with the recent crypto meltdown, Dash has paid off well for investors. The altcoin boasts lifetime returns of 65,000 percent at the current price. For perspective, a $1,000 investment made early in Dash crypto would have turned a $650,000 profit by now.

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There isn't a guarantee that Dash crypto will continue to deliver blockbuster returns in the future. However, the altcoin is still worth a look as a long-term investment. First, the current price offers a great opportunity to buy the dip considering how far below the crypto trades from its all-time high.

More importantly, Dash has a bright future as a digital payments provider. Its focus on instant, low-cost transactions puts it in a great position to ride the shift to digital payments and e-commerce. Another important Dash attribute is its focus on privacy.

The best way to buy Dash crypto

If you like Dash crypto’s price prediction and want to buy the current dip, you have many ways to do so. The best places to buy Dash coin with the U.S. dollar right now are Coinbase, Binance, Bitfinex, and Kraken.

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