ZEC is without a doubt a powerhouse of a team; as seen here https://z.cash/team.html
. As you will begin to learn in my charts, these markets operate on cycles; mainly greed and fear. When things are pumping, people are getting greedy and not wanting to sell. When things are dumping, you have people being both greedy, trying to scrap up what they can, and fearful as well, fear of losing everything they put in. Overall is undeniable we are a speculative market and yes projects to progress in valuation over time, then things either go too far up or down, they tend to go back torwards a realistic medium. However there is no fun in this game if everything went just sideways and slow, so we have to understand when things are at or near their ATH
, we are at maximum financial risk due to the good chance that their valuation medium is quite a bit lower. The same is true vice versa, when things are at the bottom and dead on the floor and nobody wants it, its valuation is most likely much higher as well as it is at the point of maximum financial opportunity. Crypto is about a game of LOSS and 90% of the people involved in this space lose money. In order for us to win, we need to understand how people lose which is mainly in two ways; buying the top or near it and holding onto a losing trade far too long and then selling at the bottom because they get fearful. Right now zcash is at or near a historical bottom. Sure the project has gained valuation in terms of USD however that is due to the BTC
bull run and a mix of nobody really wants to sell it below a certain BTC
price wise, in speculation for the future. Right now majority of this market is in loss as we can see where nobody is really in it lower than here, in terms of BTC
pricing. It's safe to say the future of the crypto market won't all be losers in these alt coins, especially in the promising ones and everyone holding Bitcoin
will just keep going on a free ride to riches. Especially looking at the group of investors in some of these projects, in particular zcash, its safe to say these people expect something great for the future. Now lets get back to some technicals...
We can see in the main chart zcash has gone through a nice market cycle and has only given us a small wick into an optimal buy zone of historical low which was right under a prior breakout zone that sparked the beginning of its first little market cycle. Zcash however has been maturing as a project and it will want to maintain its appreciated USD value once the carpet is pulled on Bitcoin
We are pretty much in our second ideal buyzone, which would be right under the 0.883 and above the prior breakout area which is no guarantee we can visit honestly. None of us are wizards that can tell you how emotional people will be and how low they are willing to sell it as they feel and go through this emotional torture of uncertainty but rest assured anything at these levels is buying pure fear and the potential upside is vast. We are approaching the end of our descending triangle
, like many other coins, which aligns with this upcoming mid november fork. Zcash, being the king of privacy at the moment, and is ultimately a better version of Bitcoin
, is 100% a must have in your portfolio and we might not see better entries than here ever again here shortly. Do not fret if we do possibly see another -10% or -20% downside. It will be really minimal liquidity and only a very few amount of coins exchanged at these prices. I would say its best to start averaging and just buy more if you can get filled lower for a better average.