Various cryptocurrencies note strong gains over the past few hours. Even though the Bitcoin price is still struggling to gain a stable foothold around $5,800 for the time being, altcoins are slowly moving up again. The Dash price, for example, is appreciating nicely, thanks to a 10.51% gain over the past 24 hours. At this rate, we will see a Dash price of $300 before the day is over.
Dash Price is Surging After Massive Dip
The world of cryptocurrencies is filled with ups and downs. Volatility has become a second nature in the world of Bitcoin and altcoins these days. Even though most people expected the major volatility to be behind us for some time now, the past few weeks have proven differently. Things have been on a wild ride as far as the Dash price is concerned, with a few attempts to break $300 but getting rejected every single time.
To be more specific, the Dash price has seen a few attempts at surpassing $300 over the past week. Four of those attempts were made, with three of them being successful for a brief moment. Every time the price was pushed back, however, the Dash price dropped by around $15 or more. These wild swings create a lot of manipulation opportunities, which is also helped by the low trading volume for this altcoin.
Over the past seven days, we have seen the Dash price drop as low as $264.89 not too long ago. Considering how the same Dash is now worth $296.64, it represents a very solid gain for the people who successfully bought the dip when it occurred. It is good to see some people acknowledge the opportunities when they present themselves, as there is a fair amount of “coin flipping” to be done as far as altcoins are concerned right now. Dash is no exception in this regard, unfortunately.
Speaking of the Dash trading volume, it doesn’t look all that spectacular right now. With just $68m in 24-hour trading volume, Dash isn’t doing all that great whatsoever. This is not necessarily a worrisome sign, yet it shows little money can move the Dash price in either direction pretty quickly. Any gains visible right now can be wiped out by one or two market makers in mere minutes. That doesn’t mean it will happen, though.
Looking over the exchanges ranked by Dash trading volume, Bithumb is the place to be. They are followed closely by HitBTC and YoBit, of all platforms. More specifically, YoBit is one of the smaller altcoin exchanges in the world, thus it is surprising to see them getting in the top 3 for Dash right now. Then again, every trading platform is valuable in its own way, and YoBit shouldn’t be ignored in this regard.
For the time being, it seems to be a matter of time until we see the Dash price surpass $300 again. Whether or not this momentum can be sustained this time around, remains a big question that can’t be answered easily. No one can deny the markets are responding positively to the current Bitcoin price dip, but things are always evolving behind the scenes. An interesting future lies ahead for the Dash price, that much is evident.