Having been burned by experiences with alt-coins in last year, first with Cloakcoin’s major disappointment as its exchange rate fell towards zero, then mintpal exchange disappearing along with my remaining alt-coin funds I’m bit wary of going near or discussing alt-coins again. But having said all that here I go again afterall..
Darkcoin is back on my radar. Except now its called Dash .. standing for Digital Cash I believe. The rebranding does look like a smart move to me by distancing themselves a bit from any negative perception of the ‘dark web’. Anyway other things have moved on too in Dash, since I last spoke about darkcoin as it was then the darksend feature is now all completely open source code. Darksend being closed source is one of the major things I didn’t like initially as you may recall if you follow my blog.
A bit older and wiser since my first forays into alt-coin I now think the risk of going into first pump of new coins full of promise is just too much risk for me. Dash however is now one of the established coins and the focus on privacy is a big draw for me.
Anyway, heres a look at some Dash charts from the Cryptsy exchange. Will start with looking at all data on log price scale. Here it is priced in bitcoin.
Here you can see darkcoin started with a massive bubble peak which has then spent several months deflating from. However more recently there is renewed buying and dash almost reached the level of that first peak just falling short. The latest bull run has been punctuated with two mini-bubbles the second of which dash is still falling from. I’m wondering if 0.0135 where the price hits my trendline may turn out to be a good entry to Dash as it gains again for another leg up ? In my typical impatient fashion I’m already in, in fact.
Another thing I’m wondering about is the kind of rounded bottom of this chart, are we looking at a large cup and handle formation?
Anyway heres another closer look at the recent moves up.
Not much to add except note the huge volatility. Investing in alts is definately not for everybody. But personally I like Dash and also like the look of the chart.
As always please note this isn’t trading advice just a sharing of my own ideas which sometimes work out and sometimes don’t . I am far from being a financial expert.