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Zcash/USD – Private, Promising and Persistant! for BINANCE:ZECUSD by MegaWhale

Zcash was built on the original bitcoin codebase in 2016 and was created by professionals from a variety of institutions, for one: MIT scientist John Hopkins. Zcash is similar to many cryptocurrencies, the main difference being its privacy feature, in which Zcash transaction data ARE posted on the blockchain but AREN’T revealing of user’s wallet addresses.

FA:

– A common misconception about bitcoin is that it is anonymous, although criminals using bitcoin to transact may be slightly harder to trace, they are by no means untraceable. On Zcash “Zero-knowledge proofs allow transactions to be verified without revealing the sender, receiver or transaction amount.”

– Zcash is one of the early privacy coins, gaining massive amounts of attention in the 2017/2018 bull run where investors tried to get Zcash back to its $30,000 all-time high price point. It still sits relatively high ranking just outside the top 50.

– 21 million total supply with 11.5 million coins in circulation. The 21-million-coin supply is identical to that of bitcoin , a tested model that seems to be working perfectly as demand grows and supply diminishes.

– Zcash also shares another major similarity. In November of 2020, Zcash undertook its first halving. A halving is when the available supply of coins that is getting mined out of each block is, as per the name: cut in half. This means that miners receive half the Zcash for the same amount of effort, over time this will lead to supply shortages and the demand stays the same or increases the price will surge.

– Zcash is on Grayscale Investments, the most well-known investment fund that supports cryptocurrencies. Zcash was one of the first five cryptocurrencies added to the fund by Grayscale and still remains there amongst less than ten cryptocurrencies to this day. This is big news! For a massive company like Grayscale (with over $30.4 billion AUM ) to have the confidence to hold Zcash on this trust shows us how the big money is thinking and proves to us that Zcash is not going anywhere.

– The Electric Coin Company (creators of Zcash) seem to be focused on the product they provide rather than exchange listings and price etc. I see this as a positive thing in the long term due to the fact that there is much competition in the privacy coin space and in order for Zcash to stand out (not just in short term price, but when it comes to mass adoption) it is all about fundamentals.

TA:

– Erratic volume spikes, showing that people are still potentially upset with Zcash as it is still infamous for its unbelievable drop in 2016 and 2018 (where people thought it was going back to its 2016 ATH and were caught off guard).

– Possible short-term fractal Identified. After the fractal plays out, we could see some continuation further towards the 2018 ATH .

– Currently breaking above a two-year-long resistance point, no reason why we won’t see a successful break and R/S flip here especially with money following out of bitcoin and into altcoins and the total market cap gaining tens of millions daily.

– Massive potential, with an ATH of over $30,000 (157x). Although it is impossible to guess as to whether it will return to this point, theoretically, if it’s been there before it could go there again.

– On a smaller time, frame such as the four hourly, we can see that Zcash has entered an ascending channel .

– A large amount of resistance before even the 2018 ATH , however the similarities to bitcoin , unlike some other privacy coins, might pull new bull market investors toward Zcash rather than rivals like Monero.

And remember guys, the longer an asset is on the ground – the higher it will stand up!

Buy Big Sell BIGGER -MegaWhale.

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