Zcash (ZEC)
This coin jumped from around $15.6 in September 2024 to nearly $450 lately. In just three months, it went up from $45 to $449, making it one of the privacy coins that really took off.
Right now, I'm shorting this coin.
Yesterday, I was up about $8, but then I got into a small loss of $1.5 before I hit the sack. Today, I’m back to making around $7 to $8. I feel like holding this position for a bit longer to see if the price will drop hard like it usually does. What do you all think?
I've got money I can afford to lose on exchanges. And let’s skip the "not your keys, not your coins" talk here, I know what I'm doing.
I opened the short position with $100.
People here seem to think only Monero is the real deal for privacy coins, and honestly, I agree. Other coins like ZEC aren’t designed for full privacy either, but that’s not really the point of this discussion.
I couldn't give you financial advice but something about the coin doesn't sit right with me. Nothing is organic.
Privacy coins getting popular? I don't know. Monero is obviously superior in that aspect, but not getting the same interest, sure it's not listed in as many exchanges but again, why is that?
Influencers seem to be talking about it as well. A lot! Since when do they care about privacy coins?
It's definitely being pushed for some reason and I personally don't trust it. This doesn't necessarily mean that it's going to crash or anything, but it's not something I would personally USE if annonymity is something I care about.
They are popular before but I think the people bounced on them this year as you can see how monero was also pumped. It was the first that I noticed some months ago that increased almost 4.5 times.
Also Zcash and Dash are not listed on the exchanges just because they are called privacy coins.
ZEC pumped also and Dash pumped from $17 to $95.
I only care more about the little profit that I can make with ZEC.
I short Dash also but it will be just for a little period of time with little amount of money
I remember this is an old coin. I checked the data on CoinMarketCap and it already had records in 2016.
Thats why the pump now is surprising since its been around for a long time and there hasnt been much real progress.
Look at the chart. For years there wasnt any big move. Better dig into the reason behind this run first before jumping in.
Months ago or do I say last year some advised me to hold on this coin Zcash but then I was scared as I have no much trust on this coin than way I trust Monero coin, although I am not even holding it because I believed much on bitcoin since bitcoin out rightly making the wave initially before it went on the sideways. Although, If you believed on the coin why not just follow up your instincts and see what it would results for long if the price doesn't go the other way round. Just for less than 24hrs and you have already about 8-10$ profits meaning for long race you could earn more than that.
$ZEC is not one of the altcoins that is on my watch list but I just added it as you mentioned it and from analysis on the coin, it's likely going to fall once the bear market starts and now that January 2026 is just by the corner, many people are speculating a big dip which could happen soon just in 2 or 3 months, but what your fear should be is that what if price spike and reach your liquidation zone? That means you could be liquidated before the massive fall will start.