Dash is a part of my core holdings and for many reasons. Let's just go over a few of them.
1) Working Product - They have a working product that is in current use. This is not a gamble on hopefully they get something to market they already have something. 2) Best in Breed Peer to Peer - Ok why do I think this as I am a BCH' fan? It's all about marketing! They are in most ATM's and they are accepted in almost all cyrypto merchant processors. It's semi anonymous and what I like best about it it it's hash function which allows variable hash rates depending on volume. Now I'm not a tech guy but listening to one he explained this to me and the excitement in his eyes when he spoke about meeting the dash team and how their technology was much better than LTC' I got excited. 3) Marketing - Name another coin that markets like DASH? They are aggressive when it comes to marketing and even our restaurant is going to accept it as a payment soon! 4) Marijuana - They are now aggressively going after the marijuana business. I know there is pot coin, krypto pot coin, hemp coin and a myriad of others, but if I'm a merchant I want to accept something that has been time tested and has market penetration!! Yes and name another coin other than BTC' that has the market penetration of Dash? ETH? Well different technology entirely so that is like comparing XOM' to Walmart. 5) It's been around a while and has survived.
But back to M&M. Marketing and Marijuana!
Marketing - Yes I love equities that have a great marketing strategy (think of OMG' Amazon, Intel) they also have market penetration. Every Bitcoin ATM' I see has DASH on it. Now maybe that's just the local guys, and even if people are not buying it there, it's free advertising. Also DASH makes decisions fast and is not reliant on a group of disgruntled miners or mining pools all trying to agree. So they are thin and trim and decisions can be made quickly.
Marajuana - Ok these guys will put most of the hempcon coins out of business. I mean if I'm a merchant I want something that is proven that works. If I'm selling 10k in weed a day I want to make sure the crypto I am using is not going to become one of the 90% that go to zero. Dash is aggressively going after this market, and I like aggressive disruptiors.
Now I know many will comment on DASH' and this is what the forum is for. And though I am not a tech guru as many of you are, I have been investing longer than many of you have been around. Even the logo looks cool. I mean I would wear that hat. This is what makes John Deere such a valuable company. Marketing! Who wears a case or Kubota hat? I mean I have a freaking golf bag that is green and yellow and says JOHN DEERE on the side. Notice how many upstarts are selling a clothing line? Well there is a reason! Marketing. And when I think of who markets the best it's OMG' and DASH. But DASH' has a working product and market penetration. Best in breed. LTC'? Ok it's in my core but they are not aggressive. They are more worried about battling VER then marketing their product.
So when it comes to peer to peer. BCH' and DASH' top my list. Bitcoin Cash has name recognition but DASH' has market penetration. I own both and I think both will be the two peer to peer coins to own. yes I know verticoin Zcash ( i own both) but first to market market penetration and a good marketing team is where I want to invest the majority of my funds!
The chart speaks for itself clean and simple. I am accumulating here and will buy a breakout of $392 for a trade. 3rd waves are what I like and we should be entering it soon!!
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Keep in mind this is a log graph!
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Here is a shorter term update, I love the movement of DASH so far but it is definitely overbought but overbought can continue, However, I do not like buying tops. I will wait for a retracement to add to the position.
When you say buy a breakout of $932 for a trade, do you mean that you will buy now for 392 target? or buy at 392?
Thank you for your chart and analysis!
No one explains it well as you do!!
Anoinvest
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@ohhkevin89, Its clear from the chart. Wait for the bull confirmation ( penetration over 390 ) with target 700 - 900 USD :)
RihanaSmith
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@Anoinvest, Sorry I am a newbie, you mean buy now at 434.30$ and buy when 700 -900$?
kurrkabin
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Hey, been following for months already. Really appreciate the daily updates and the quality work. I have a question though:
There is weird coleration between bitcoin and the alts(BCH as exception-inverse coleration). If bitcoin pumps-they bleed. If bitcoin bleeds-they bleed as well. Now that the market has settled at around 6300$, we see some alts pumping, but last few months that seems to be only case alts are getting some action, except for individual coins with bullish news. What makes you think Dash is on the run given that bitcoin might continue bleeding.
Konran_Taisa
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@kurrkabin, That is a good question. I have the same observation. Anyway since yesterday alts seems to be more btc-dip resistant...
goldbug1
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@kurrkabin, I think money is just rotating from one to the other! This is why they are trading inversely probably as a pairing/.
kurrkabin
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@goldbug1, Hey, thanks coming back at me. My question was - do you feel comfortable investing in alts given they mostly rise if BTC price stays stable? If BTC rises-alts fall, if BTC falls, so do alts.
Also, can you give me a general advice on how to incrementaly scale out once we hit our target zones? F.e. what % of your position would you sell if we hit target zone one ~ 520$, target zone 2 @ around 800$.
Thanks!
sc2
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So many great coins, and not enough money... if dash and marijuana do become intertwined, i suspect we will see the USA gov too have a more aggressive stance against crypto.
Thanks goldbug1 for your insight.
UnknownUnicorn1176330
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@goldbug1 did we not pass the buy zone ? i did not understand! now we have 504$ in Bittrex
goldbug1
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@evrencengiz, I'm not sure the "trade" breakout of $392 was the buy but that should be closed now at 500ish
Thank you for your chart and analysis!
No one explains it well as you do!!