So what could be behind the spike? There's a couple big things going on with Dash at the moment.
First, Venezuela and their national cryptocurrency the Petro are facing an array of problems lately, and today their President addressed the nation and vowed to 'revive' it - perhaps the citizens watching weren't so convinced.
But while the Petro's problems grew, Dash has exploded in popularity there - the public may be stocking up.
Secondly, the Dash Platform launch - which they claim is superior to existing Cloud platforms, even centralized ones like Firestore. If Dash can take away a decent sized chunk of that market, they're set to bring in billions.
“The main benefits of using Dash Platform over Firestore are similar to the general advantages of decentralization: better security, ownership over data, reduced data silos, and enhanced transparency. Over time, Dash Platform intends to add more components to its stack so that developers can fully utilize the Dash network to facilitate trustless, disintermediated value exchange” says Dash Core Group Product Owner Dana Alibrandi.
But with every big bull run - it doesn't matter if it doesn't hold.
No predictions from me there, but when long time HODLers see a price increase like this, it's not uncommon for them to take some of their reward and sell.
So while it's not a prediction, be prepared mentally, and with your portfolios to possibly lose half of what was gained today, at least that's where I stand.
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Author: Harvest Hill
Silicon Valley Newsdesk
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