Dash Market Update: Bitcoin Jesus encourages unhappy BCH devs to buy DASH

Many BCH devs have been requesting an Infrastructure Funding Plan (IFP) for the coin for a while now. Roger Ver, the co-founder of Bitcoin Cash (BCH) and aka “Bitcoin Jesus,” has recently asked disgruntled developers to sell their BCH holdings and buy Dash (DASH) instead. He said: 

There is already a peer to peer electronic cash coin with IFP. It’s called DASH. I suggest IFP supporters sell their BCH for DASH, and start working on that chain.

An IFP is a plan that allows the infrastructure of any system to be funded by its users. Bitcoin’s original design eliminated any such centralized governance that’s in favor of volunteer infrastructure management. Following these footsteps, BCH also does not have any such plan. On the other hand, other decentralized cryptocurrencies such as DASH have IFPs. 

Ver’s recent statement clarifies that he has no intention of including an IFP plan in the BCH network anytime soon. His endorsement of DASH could motivate many users to switch to the asset soon. This will increase network usability, which is usually a bullish sign.

DASH/USD daily chart

DASH/USD bulls finally managed to regain control after two straight bearish days. The asset is presently priced at $88.125. The moving average convergence/divergence (MACD) shows increasing bearish momentum. The 50-day simple moving average (SMA 50) has crossed over the SMA 200 to chart the golden cross pattern, which is a bullish sign. 

As per the price chart, DASH/USD has strong resistance levels at $93.12 (SMA 20) and $97.20. On the downside, we have two healthy support levels at $85 and $80.67 (SMA 50 and SMA 200).

Key levels