DCU - MARKET RIPS, DASH ROARS (16TH AUG '17)
Sorry, it is a late update today, I have been driving back from Puerto Banus to Almeria, and I wrote a guide for new investors first three months in Crypto.
So the market has rebounded back well from the dip yesterday. Bitcoin dropped from its high of $4,403 (Coindesk) to test $4k, after dropping under one, bouncing back and testing again it has found support and is back at $4,373 at the time of writing. Bitcoin support is essential for the whole market as a drive through to $5k is likely to create a wider awareness of Bitcoin and Crypto and continue the great gains for the year.
The biggest news for the day for me was the Dash rally. Regular readers of the Facebook Group know how much of a fan I am of Dash. Up until a few weeks ago, Dash was my biggest position, only the rally from NEO and Bitcoin took its place, but I held firm with Dash due to its steady and stable growth. While I love the big gains available with other coins I also like to have secure and stable coins within my portfolio.
If you look at the chart below, the green line shows the growth in USD price for the year. You will see how steady the price growth is, even through the correction of June/July. Dash has been trading sideways for a few weeks while Bitcoin has been steady, but has shot up over 15% today. This is personally a significant change for me, and my portfolio has set another all time high.
I will be keeping Dash for the long term. The structure of Masternodes and the way mining funds are distributed to projects for the benefit of Dash is impressive. The community is organised and there are a whole bunch of projects on the horizon.
Anyone looking for steady growth in their portfolio should consider Dash.
The rest of the market is pretty much up today as well, and the global market cap also set another all time high of over $140bn. While I am always cautious, I am also becoming more and more bullish.
I will pull together a better DCU tomorrow but it is late, and I am on holiday. Glass of wine for me. Shout me if you have any questions.