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Bitcoin vs Dash: Comparing Bitcoin and Dash

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Lets compare Bitcoin vs Dash. The amazingness of the cryptocurrencies doesn't seem to be tangible enough relative to its complexities. Lets compare Bitcoin vs Dash

Understanding some of the prominent benefits of Dash over Bitcoin.

Introduction

Bitcoin is a very complicated cryptocurrency. Its mass adoption is not anything more than the fantasies of a dream, as the technology is too technical to be understood by the normal people. It is amazing, but not that simple to be effectively applied by the masses. Bitcoin scalability has always been a major point of concern and debate the community professionals, but doesn’t seem to be coming on any grounds regarding the matter. Also, the increase in the block size is been discussed for years together. The Crypto domain is to be a lot more ambiguous than it seems. It is no wonder that using the cryptos to transact is far more complex than using PayPal or Paytm. The amazingness of the cryptocurrencies doesn’t seem to be tangible enough relative to its complexities. Lets compare Bitcoin vs Dash.

 

Bitcoin vs Dash: Transactions

A long string of addresses feels quite unusual when one is extensively used to Fiat transfers. Currently, even the transaction fee has skyrocketed and if a particular transaction is not been attached with sufficient amount of transaction fees it might remain forever in the unconfirmed transaction pool itself. Hence even micropayments which were earlier possible seems to have been completely eradicated due to the high transaction fees.

On the other hand, the transactions on the Dash network is lightning fast when compared to Bitcoin. Dash even provides a special Insta send service which allows for a provision of getting the transactions confirmed quickly. Hence, people who aren’t patient enough to wait for hours together can opt for Dash. Due to the late confirmations price slippage might occur, which is another misery in itself.

Bitcoin vs Dash: Scalability issue

The dash community also strives to bring extensive cooperation between the stakeholders. This was clearly evident when the scalability issue daunted over Dash. The community members obviously had heated arguments as well as discussions but just within a span of 24 hours, they all decided to increase the block size. The problem which hasn’t been solved for years by the Bitcoin community and continues to persist even today. The problem was done in 1 day itself by the Dash community. The incident represents a strong oneness and reliability among them. This doesn’t mean that Dash is completely perfect but it’s ability to upgrade itself with time, is what matters, unlike Bitcoin.

There is also a PrivateSend feature available in the Dash network. By using this particular feature optional feature a user can completely hide his or her identity. As Dash is considered to be synonymous with Cash which has no digital footprint, this privacy feature undoubtedly adds to the convenience of the users.  

 

Bitcoin vs Dash: Community Funding and control

It is absolutely worth mentioning, where the funding comes from, for these organizations. As Bitcoin network is completely decentralized and hence a number of prominent cryptocurrency institutions have come forward in order to fund for the Bitcoin development and research. But there is a catch, with funding comes authority over the decisions, hence the institution which is funding the community the most, it is an unwritten rule that it has the most authority over the decision making.

Whereas this is not the case, for the Dash community as most of the funding is done by themselves only. 45% of the total Dash funds go to the miners, 45% is received by the master nodes of the network, and the remaining 10% is utilized for the for the development of the community. In this case, there are a number of prominent master nodes whose decisions are taken into account in order to reach a common conclusion.

Bitcoin vs Dash: Public address

Another feature of Dash is its public address. Here each and every public address is associated with a human-friendly name, similar to an email address rather than a string of random characters. The transactions are made simpler by giving names to the addresses so as to prevent the transactions to reach a wrong destination. Since, once the transactions are initiated they cannot be reverted back this feature is crucial, as it associates rememberable names to the address.

Conclusion

Although Bitcoin was the Pioneer in the cryptocurrency trend it undoubtedly cannot be considered as the best solution for the current financial practical scenario. The cryptocurrencies like Dash have been coming forward who have their own set of pros and cons. It all jots down, to the need for the day, where currently scalability is one of the major concern. Hence the cryptocurrency Dash seems to be more promising than Bitcoin.

#Bitcoin Price Analysis

BTC Daily Trading Signals: 24 October

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Dominant bias for Bitcoin (BTC)- Ranging

Resistance Levels- $6800, $6900, $7000

Support Levels- $6000, $5900. $5800

 

BTC continues in a range-bound market. The strong bearish pressure within ensures BTC made a new low of $6524.3 on 23rd October as against the low of $6535 on 22nd October at the support area. Exhaustion sets in as the candle close with a wick. The bulls gradually stage a return within the range with the bullish railroad formation at $6540.2. BTC was up at $6580 in the resistance area before the session ended. Temporary rejection against further upward price movement occurred at the 50-EMA.

 

BTC 4-hour chart

BTC 4-hour chart

 

Price is hovering around the two EMAS but the stochastic oscillator is at 26% and its signal points up which implies upward price movement within the range may occur.

BTC is in consolidation and trading between $6800 in the upper resistance area and at $6300 in the lower support area of the range. Traders are advised to be patient at this critical period for a breakout at the upper resistance area or a breakdown at the lower support area before taking a position.

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#Bitcoin Price Analysis

BTC Daily Trading Signals: 23 October

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BTC was down to $6538 in the support area while the bulls show sign of gradual return within the range as bullish candles were been formed.

Dominant bias for Bitcoin (BTC)–Ranging

Resistance Levels- $6800, $6900, $7000

Support Levels- $6000, $5900. $5800

 

BTC continues in a range-bound market. The strong bearish pressure within the range was lost on 20th October after the formation of a bullish spinning top at $6524. The bulls manage a push of BTCUSD to $6660 in the resistance area before exhaustion sets in as the candle closes with a wick on  21st October. The bears’ takeover s further confirmed by the bearish railroad form at $6642 same day.

 

BTC 4-hourchart

BTC 4-hour chart

 

BTCUSD was down to $6538 in the support area on 22nd October while the bulls show sign of gradual return within the range as bullish candles were been formed.

The stochastic oscillator is in the oversold region at 23% but its signal points up which implies upward price movement within the range may occur.

BTCUSD is in consolidation and trading between $6800 in the upper resistance area and at $6300 in the lower support area of the range. A breakout at the upper area will be good for a long while a breakdown at the lower area suggests shorting the cryptocurrency, but it will be a good strategy to wait for either to occur before taking a position.

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#Bitcoin

Can Cryptocurrencies be the solution for the 2020 predicted US Recession?

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JPMorgan Chase has predicted a 60 percent chance for the next US recession to happen by 2020. Can crypto be a viable solution to existing stores of value?

JPMorgan Chase has predicted a 60 percent chance for the next US recession to happen by 2020. In a global market crash, can crypto be a viable solution to existing stores of value?

“The probability of a U.S. recession inside one year is right around 28 percent, and rises to more than 60 percent over the next two years, researchers wrote in a note this week. Over the next three years, the odds are higher than 80 percent, as indicated by the note,” Bloomberg reported.

 

Why Do Experts predict a Recession?

As indicated by the Federal Reserve Bank of New York, there exists a mere 14.5 percent chance of a recession happening before the end of 2019.

Stephen Stanley, the chief economist at Amherst Pierpont, suggested that 2020 could be considered as a premature period for the next US recession to happen yet he echoed a comparative sentiment to JPMorgan in that while the US economy remains solid with low unemployment rate and a bull market, the danger of a recession in the years to come exists.

Generally, the larger part of economists in the US forecast a recession to happen in the next a few years. David Altig, Federal Reserve Bank of Atlanta research director and NABE’s survey chair, disclosed that 66% of business economists in the US expect the market to crash before the end of 2020, for the most part, due to trade issues.

“Trade issues are clearly influencing panelists’ views,” Altig stated, expressing that trade issues and high-interest rates imposed by the Fed leave US markets vulnerable to a mid-term crash.

 

Is Crypto the solution?

Amid a period in which numerous economists forecast a market crash and a noteworthy recession in the next two years, the demand for crypto has increased quickly.

While not portrayed by the prices of significant cryptocurrencies, financial institutions, for example, Fidelity, Goldman Sachs, and Citigroup have established the infrastructure to target institutional investors intending to invest in the advanced asset market.

Banks and investment firms have prevented from establishing businesses in the cryptocurrency sector due to the absence of regulatory certainty in the market. Experts have stated that the suddenly emerging trend of major financial institutions entering the crypto market suggests the demand for crypto from investors in the traditional finance sector has increased quickly in the previous several months.

As Jim Hamel, portfolio manager at Craftsman Global Opportunities Fund explained, the computerized payments industry has experienced exponential development in recent years, which could normally lead investors to cryptocurrencies.

“There are a number of tailwinds adding to this trend. In the first place, we’re seeing fast development in e-commerce, which requires that customers be able to make secure advanced payments. The development in cross-border transactions and the general effect of an increasingly globalized marketplace are helping accelerate this trend.”

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