I'd like to explain some (the major) reason why DASH is going down:
Everybody is mining DASH but getting paid in BTC/LTC whatever, but DASH.
Guess what happens when you want BTC instead of dash ? Dash gets sold and BTC gets bought. So you're putting downwarn pressure on dash.
Ppl should start holding dash when mining it and no dumping it for BTC. Then maybe the price will stay high.
Simple.
In simplest terms, this is somewhat true. But, more in line with the overall reality. If there is sound fundamental support and demand for any protocol or coin, the swapping or exchanging the currency for another would have no discernible effect. These are free markets with active supply and demand metrics in play. Your example has played out in the reverse with the opposite effect. During certain market dynamics, money flows OUT of BTC and into other currencies, and BTC continues to go up. ( EG: during Segwitx2 ). If DASH was fundamentally sound or entertaining healthy levels of demand, it would NOT react negatively to " Miner Profit Taking ". In fact it might even go UP. Personally, when I am bullish on a Crypto Currency, I watch volume and order execution trends that alert me to the ridiculous ways in which typical "Miners" liquidate their inventory. It ALWAYS creates a buying opportunity in the market because they run in and sell massive positions with Market orders and wreck the whole Bid structure, like a Bull in a China Shop. 9 times out of 10, when I buy in this environment, I gain a massive edge on my trade once the silly Miner exits the platform and the stupidity dies down. The market returns to supply/demand normalcy and snaps back in price. Everybody is mining DASH but getting paid in BTC/LTC whatever, but DASH.
Guess what happens when you want BTC instead of dash ? Dash gets sold and BTC gets bought. So you're putting downwarn pressure on dash.
Ppl should start holding dash when mining it and no dumping it for BTC. Then maybe the price will stay high.
Simple.
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