At current times cryptocurrency has influenced several industries and giant companies as it has an extreme potential to change the revolution of the payment systems with its unique blockchain technology. Several industries had already opted for cryptocurrency so no doubt even the dental industry now has their own cryptocurrency that is named as DentaCoin.
It reduces the hassle for the patients and makes them take good care of their dental health as they completely segregate the third-party relations between the doctors and the patients making the transactions easier. With the start of 2018, DentaCoin has seen some major improvements and also a whopping rise in demand along with other cryptocurrencies and the DentaCoin team has also hit some important and beneficial developments. After carefully analyzing the DentaCoin and it’s features we have made some price predictions of DentaCoin for the coming year.
DentaCoin price predictions for 2018
According to market trends so far
Just like all the other cryptocurrencies, DentaCoin’s coin price journey wasn’t strumbled free. It has seen some major ups and downs and the market has influenced it just like the other prevailing cryptos with a surgical downfall in starting of January and some small raises in mid-January and starting February. This depicts that The DentaCoin is also affected by the price market just like all the other cryptocurrencies.
This is quite understandable as DentaCoin doesn’t have a colossal market capital and currently stands in the position 75th in the list of top market capitals of Cryptos. Though it comes in the top 25 cryptocurrencies which is a good sign. It also relatively gets a very low amount of capital being traded every day, that is around 0.1%. The depicts that DentaCoins are rather holding on to it rather than influencing small market fluctuations.
The following statements also reflect that DentaCoin is likely to follow the present movements of Cryptos in the price market as a whole and, it has been doing it for a long time in the market, the owner of DentaCoin prefer to holding it and it doesn’t even have enough market capital to cope up with the current market trends. This might change in future, but to the despair, even DentaCoin’s partnership with brick-and-mortar firms in US and UK has neither helped it cope up with the current market trends nor increasing its market cap.
Huge barriers for Entry
DentaCoin has been doing pretty well since its launch but entering the market is an extremely tough call for now. It is currently partnered with only 23 dental practices right now out of which many are being managed or affiliated with the DentaCoin’s team themselves including which was purchased to serve as a trial for the platform. DentaCoin’s low rate of adoption among the other large stakeholders demographic which causes a huge problem to the price factor when it comes to increasing and decreasing of its price. The only reason behind it is the user themselves aren’t able to use it more often which is making its intrinsic value even less.
If we think more practically, entering into the dental industry is not a cup of coffee. If we see the recent market reports, many realms of it are ruled by a small number of large corporations which is characterized by strong regulation and huge costs. And with the current situation, competing and building value in the current market is quite difficult which is leading them to be viewed with more regulations by the regulators.
It is also facing an additional difficulty and barrier, a team member of DentaCoin recently said that most of their Target audience isn’t that much acquainted with the advanced technology. This way they’re facing much more difficulty hitting the market. Even if somehow DentaCoin is able to generate its market share still it will have to face competition with much more developed, established and funded industries and companies. This clearly depicts that DentaCoin has a hard chance of getting some huge market growths due to all the huge barriers prevailing which will be a hurdle for the DentaCoin to quickly secure some market share.
Not disruptive
A business can be heavily influenced and developed with the use of blockchain technology. But the DentaCoin is lacking to add some of any unique feature into its system and offers only of the few offers since the day of its launch listed below :
- a platform for dentist reviews;
- a mobile app for encouraging healthy dental habits;
- an opinion-polling and market research platform;
- smart contracts between dentists and patients;
- a healthcare database, and
- a marketplace for dental equipment
We can see only one unique feature that is the ‘smart contract’ which currently doesn’t exist in any of the established non-blockchain forms. And moreover, there are many smart-contracts that have been already released and have a much better adoption rate than DentaCoin.
And as DentaCoin had released only one of such features it can’t even trade an offering of the all-in-one solution either. This makes the patients and doctors both to be a little conscious before switching to DentaCoin for their need. Though the DentaCoin team have doubled there efforts and are already working very hard to take a chance on a new technology. However, it has a slight amount of risk but the benefits are not certain.
This statements and facts clearly depict that DentaCoin is not likely to see any huge growth in demand of price rise until it gets more development and sees any major improvements and until it’s more valuable for its users. And if we take a look at their timeline, the release of the healthcare database integration is set to be released on 2019. This clearly depicts that our predictions are quite weak growth along this year 2018.
Unbalanced Fundamentals
Tokens unlike stocks, raw materials or consumer goods have their own price regulators and are statically governed by their respective supply and demand. No matter how much fluctuations the coins face in cryptocurrency market shows ultimately the prices will end up to being somewhere near to what was dictated by the fundamental market forces. In DentaCoin’s case, there is a large amount of supply relatively to the weak demand which makes our predictions more cautious.
The DentaCoin can’t be obtained by mining now and can be obtained by writing reviews about doctors on the platform as well as engaging with its app and polling platforms. The user who obtained the DentaCoin can use that coin for his dental care with the participating dentists.
But instead of having it many dentists will prefer Fiat currency as they will require it generally to pay salaries and for others petty expenses. In fact, the doctors will collect the fiat currency immediately instead of keeping DentaCoin and then holding it. Although it creates a good amount of supply for DentaCoin at the same time a low amount of demand. This will ultimately result in poor price rise in the long run.
Conclusion
DentaCoin has a good potential of changing the revolution of the Dental Industry and providing a new way of payments to doctors and modernize the industry even more, but for the time being it’s not up to the mark. DentaCoin has been lacking unique features since its launch and also has failed to grab the attention of many investors in the market. And it has a sturdy amount of supply and demand. According to these facts, we can predict that its price will continue to be in the downfall until it stabilizes in an extremely low cost. It might see a small raise or two if some developments take place or with any feature launched. What are your thoughts regarding DentaCoin?
