I was looking at patterns on BTC charts, and it seems very possible that the $20K zone is going to be visited.
Yes, if history repeats itself and we have the final capitulation to the 200 day MA then 22K is very likely, even a wick to the 300 day MA is possible which is roughly 16K. However, believe it or not, BTC is still holding a similar pattern to 2013 and if current levels hold for the next several months BTC could go on a final explosive rally before topping out mid-2023 at 6 figures.
Dash, as it has been doing worse than BTC for many years, should go at least if the BTC pattern is fulfilled, to the $20 zone
Very possible.
Is it really profitable for a master node acquired for over $100 to remain in HOLD while waiting to recover the entry value + interest per master node?
Profitable in the short-term? No, but not everyone invests with what they can't afford to lose and not everyone invests with such a short-term horizon for return. Look around you, the legacy fiat system is going to implode. In fact, it's in its dying throes already, people are just oblivious to it for some reason. Things are not going to get better. My bet is people who haven't hedged in an alternative form of wealth like Dash will be forced to accept a type of global CBDC which will track your every move. You will wish for the freedom that most western countries enjoy now.
Whatever happens, really at this point and especially for all those who bought Dash and placed their trust above $100 and have not sold, I believe that it is no longer worth trading at these prices.
Not everyone is a trader. Like I said, some like to hedge for the inevitable. Also, consider anyone that has invested in precious metals in the last decade or so... They only have loses to count especially when you factor in inflation. Yet, I believe that they will be in a much safer position once fiat collapses.
Let's also not forget that we are at more than -95% of the ATH, and I guarantee you that it will never return to this point.
Funny thing is that you can't guarantee anything. A more likely scenario is that Dash goes past its ATH but only once you and others like you capitulate at the bottom.
If Dash achieves a small market niche with the Dash platform, it could gain some traction, and if BTC returns to highs in the next Bull run, maybe we can hover around $250 and try to stabilize around that area.
Sounds like you still have hope. That's good.
The budget, as I told you many months ago, is going to be very reduced, and there will hardly be enough to cover maneuvering expenses. The good thing is that many other currencies do not have the option of self-financing.
Dash is actually well-positioned financially vs other legacy currencies from 2015 or before. It's the newer ones that have millions of dollars in VC-backed investment that are only going to be harder to compete against the longer the bear market lasts. Of course there's always the threat that these VC's will cash out and maybe even kill the coin... My understanding is DCG does have enough reserves to employ everyone for another year at least, so that's something...
The downside is that coins like Zcash or Monero have shown better performance simply by focusing on privacy.
You may notice that historically Dash tends to bottom out higher than those coins as well as top out higher than those coins... but maybe the trend has changed now. Zcash got a major boost in price just by talking about going POS. Do not underestimate Black Rock and their ESG agenda to influence what is considered an acceptable investment in the crypto space. ETH flippening BTC is still very much possible as mining is still perceived by many as environmentally damaging.
Dash has wanted to do so many things that we really haven't put anything that makes a big difference on the table for years.
Yes, perhaps too many things and no identity. Pivoting from privacy certainly has lost it a lot of its original support and hype. Ironically, Dash Platform could facilitate a much superior privacy model. We shall see.
But let's think that the platform offers some more incentives in the style of ETH and its chain of smart contracts. It could give us an improvement in its fundamentals, and gain market capitalization.
Dash can have all the fancy features it wants but if it doesn't result in upwards pressure on one of those two then its price will always be low. Ether works because it has an ON-CHAIN monetary velocity generator which is that the chain itself serves as a sink for tokens spent on services. You NEED ether to use ether services.
Dash on the other hand does not work like this. It inherits bitcoin's monetary model which is SCARCITY and scarcity comes from MINING because, by definition, scarcity is measured by the marginal cost of acquisition of coin from the primary supply. The more of the supply that's distributed for free rather than exposed to a bidding process, the less "scarcity" you have.
Yet my understanding is that to use Dash Platform you do need to pay in Dash Credits which are only purchasable with Dash... Maybe that's not true? If it is though, how is that not similar to using ETH as gas on Ethereum?
The other way to raise the price through scarcity of course is to have your coin used to pay for goods and services. But this only works if it can hold value in the first place, from the first principles of its protocol priorities. This is why Dash is failing and why the only way to recover from the chronic decay we're in is to get the mining quota right back up to something like 80%. This would at least make it viable again and the "features" would mean something.
Otherwise there's nothing to invest in. The features that Dash will offer are non-unique. They're only unique in the context of a "versatile bitcoin", i.e. a POW coin with a very high mining quota that can ALSO support services.
If mining is considered environmentally destructive than this strategy will back-fire.
