Because it's always fun to try and predict the future, going to try and predict the future of my new favorite cryptocurrency, zcash, looking at the weekly ZECBTC chart - and maybe that will give you some indication as to why I'm so hot on this right now.
This is the ZECBTC version of this chart idea, i've also attached the the ZECUSD version showing what I see there
First off we have before us an obvious falling wedge which began forming roughly in August of 2019. Thisestructure has been long in the making and its start coincided with the Great Crypto Selloff, a period of time which found all cryptocurrencies being deeply sold off, culminating and finally reaching reversal on March 9th. On March 13th, the pandemic officially started.
That moment marked the beginning of bitcoin's rise rising to $7,000 in April, $12,000 in august, all the way to where it is now. Meanwhile, our protagonist Z-Cash saw it's value against Bitcoin range until touching a high on the week of August 2020, touching $100 (roughly) and creating the upper bound of our wedge.
This was right around the time that bitcoin was tearing up in price at a mad pace, and while we saw zcash's value against bitcoin fall, rise against US dollar managed to range between $50 to $100, finally touching an obscenely low price $46 per token well seeing its value crater against Bitcoin. People clearly writing this token off and selling it as hard as they could to buy Bitcoin.
As usual, it's always darkest before the dawn and that week 2 weeks ago was rough for holders, really sad for sellers, and an absolute f****** Bonanza for me. That moment 2 weeks ago happened to also be the capitulation moment everyone waits for in an investment.
Privacy was getting written off as quickly as possible, small fry exchanges like Finex were delisting ZCash Monero and Dash and everyone was thinking it was because everybody was going to, really it was because they cannot handle the requirements necessary to deal with privacy coin without getting themselves into trouble and also they were getting s*** volume for those coins. Privacy was dead and so is zcash and Monero and dash. Or so the herd thought.
As usual, popular opinion is a steaming pile of garbage. Having having had gnawing and repeated intuitions to check the zcash chart few weeks ago, I saw what I'm showing you now. Pure capitulation. Reversal. An incoming explosion.
ZECBTC price has bounced off of the lower edge of the falling wedge described by this weekly chart. Reversal has occurred and ZECBTC price is now on the ascendant. That single candle managed to drive zcash price up to $100 all the way to where it had been at the upper edge of the last connection with this falling wedge. We are just getting started.
My prediction, we see ZECBTC range up in value, eventually touching 005 against bitcoin, more than doubling its value against Bitcoin. Why? People actually waking up to the fact that privacy is important. People realizing that the US government is extremely keen on keeping an especially close eye on them, because of the nature of their wealth.
See, the Feds can't just confiscate your wealth at the bank anymore. That makes you a suspicious individual.. Haven't you noticed just how many restrictions there are and what you can do with your money, how you can spend it, where you can take it? You're not at all free to do what you want to. You only think you are free, but that's because you only do all of the things that everyone else does and so you've never challenged your boundaries. And the government most definitely does not want you to start trying.
And so I predict the next three months will see a flurry of financial regulation and authoritarian laws of all sorts passing the name of protecting you, but really passed in the name of guaranteeing their own tax income, trying to keep crypto holders from doing the sensible thing which is removing themselves from the reaches of negligent landlord that provides an extremely low-to-negative ROI for the taxes they force out of us.
Who knows where Bitcoin will be at when they try all this, frankly I don't really care, I am happy with two and a half times my initial Bitcoin investment any day of the week because Bitcoin is not likely to drop 50%. Worst-case, bitcoin price stays the same and zcash goes to $250.
Best case, Bitcoin continues to rise and so does ZCash. I think what we will see is bitcoin ranging a bit and maybe increasing in price against USD, taking zcash up to about $300. Then, bitcoin explodes again, probably due to some Draconian government overreach attempting at restricting everybody's Financial freedom, causing Bitcoin to spit in their faces and rising ten-fold into the stratosphere, sending everything else reeling. Nothing can keep up with the monster, and so value against Bitcoin falls again.
Zcash maximalists, just so you know I will be selling some here, it only makes total sense in case we don't bust out of that wedge and everything else is left in the dust. After all, i'm trying to increase my relative value here, not marry a particular cryptocurrency. Now, if it do through that wedge and fly through it great, I'm om for the long run, otherwise I will buy buy once it is dirt cheap against a now million-dollar coin, touches that wedge line again. Maybe this is when we finally launch to 1k+, who knows?
What other evidence do I have for this case you say? Please take a look at the linked ZECUSD weekly chart, which shows the biggest damn cup and handle formation I've seen on a weekly ever. So sexy... I will be updating this idea and its companion as price plays out.
You never know what happens, I might be completely wrong and zcash isn't really one of the most underrated store-of-value cryptocurrencies that I can find right now, and if I'm wrong, then I guess I'll be broke and homeless. If I'm right tho... the people buying Z-Cash are gonna be the whales of tomorrow.
As a close because this is a damn novel - I've been here since 2014. Bitcoin has been good to me for years but I learned to trade during those days. I paid dearly for my training experience, just about over 80 Bitcoin lost. Selling 250 ETH instead of holding them. Those things hurt but they taught me a lot. One of the things they taught me is my sense for a deal, this one seems like if it plays out is the next best thing to being an OG Bitcoin whale
This is the ZECBTC version of this chart idea, i've also attached the the ZECUSD version showing what I see there
First off we have before us an obvious falling wedge which began forming roughly in August of 2019. Thisestructure has been long in the making and its start coincided with the Great Crypto Selloff, a period of time which found all cryptocurrencies being deeply sold off, culminating and finally reaching reversal on March 9th. On March 13th, the pandemic officially started.
That moment marked the beginning of bitcoin's rise rising to $7,000 in April, $12,000 in august, all the way to where it is now. Meanwhile, our protagonist Z-Cash saw it's value against Bitcoin range until touching a high on the week of August 2020, touching $100 (roughly) and creating the upper bound of our wedge.
This was right around the time that bitcoin was tearing up in price at a mad pace, and while we saw zcash's value against bitcoin fall, rise against US dollar managed to range between $50 to $100, finally touching an obscenely low price $46 per token well seeing its value crater against Bitcoin. People clearly writing this token off and selling it as hard as they could to buy Bitcoin.
As usual, it's always darkest before the dawn and that week 2 weeks ago was rough for holders, really sad for sellers, and an absolute f****** Bonanza for me. That moment 2 weeks ago happened to also be the capitulation moment everyone waits for in an investment.
Privacy was getting written off as quickly as possible, small fry exchanges like Finex were delisting ZCash Monero and Dash and everyone was thinking it was because everybody was going to, really it was because they cannot handle the requirements necessary to deal with privacy coin without getting themselves into trouble and also they were getting s*** volume for those coins. Privacy was dead and so is zcash and Monero and dash. Or so the herd thought.
As usual, popular opinion is a steaming pile of garbage. Having having had gnawing and repeated intuitions to check the zcash chart few weeks ago, I saw what I'm showing you now. Pure capitulation. Reversal. An incoming explosion.
ZECBTC price has bounced off of the lower edge of the falling wedge described by this weekly chart. Reversal has occurred and ZECBTC price is now on the ascendant. That single candle managed to drive zcash price up to $100 all the way to where it had been at the upper edge of the last connection with this falling wedge. We are just getting started.
My prediction, we see ZECBTC range up in value, eventually touching 005 against bitcoin, more than doubling its value against Bitcoin. Why? People actually waking up to the fact that privacy is important. People realizing that the US government is extremely keen on keeping an especially close eye on them, because of the nature of their wealth.
See, the Feds can't just confiscate your wealth at the bank anymore. That makes you a suspicious individual.. Haven't you noticed just how many restrictions there are and what you can do with your money, how you can spend it, where you can take it? You're not at all free to do what you want to. You only think you are free, but that's because you only do all of the things that everyone else does and so you've never challenged your boundaries. And the government most definitely does not want you to start trying.
And so I predict the next three months will see a flurry of financial regulation and authoritarian laws of all sorts passing the name of protecting you, but really passed in the name of guaranteeing their own tax income, trying to keep crypto holders from doing the sensible thing which is removing themselves from the reaches of negligent landlord that provides an extremely low-to-negative ROI for the taxes they force out of us.
Who knows where Bitcoin will be at when they try all this, frankly I don't really care, I am happy with two and a half times my initial Bitcoin investment any day of the week because Bitcoin is not likely to drop 50%. Worst-case, bitcoin price stays the same and zcash goes to $250.
Best case, Bitcoin continues to rise and so does ZCash. I think what we will see is bitcoin ranging a bit and maybe increasing in price against USD, taking zcash up to about $300. Then, bitcoin explodes again, probably due to some Draconian government overreach attempting at restricting everybody's Financial freedom, causing Bitcoin to spit in their faces and rising ten-fold into the stratosphere, sending everything else reeling. Nothing can keep up with the monster, and so value against Bitcoin falls again.
Zcash maximalists, just so you know I will be selling some here, it only makes total sense in case we don't bust out of that wedge and everything else is left in the dust. After all, i'm trying to increase my relative value here, not marry a particular cryptocurrency. Now, if it do through that wedge and fly through it great, I'm om for the long run, otherwise I will buy buy once it is dirt cheap against a now million-dollar coin, touches that wedge line again. Maybe this is when we finally launch to 1k+, who knows?
What other evidence do I have for this case you say? Please take a look at the linked ZECUSD weekly chart, which shows the biggest damn cup and handle formation I've seen on a weekly ever. So sexy... I will be updating this idea and its companion as price plays out.
You never know what happens, I might be completely wrong and zcash isn't really one of the most underrated store-of-value cryptocurrencies that I can find right now, and if I'm wrong, then I guess I'll be broke and homeless. If I'm right tho... the people buying Z-Cash are gonna be the whales of tomorrow.
As a close because this is a damn novel - I've been here since 2014. Bitcoin has been good to me for years but I learned to trade during those days. I paid dearly for my training experience, just about over 80 Bitcoin lost. Selling 250 ETH instead of holding them. Those things hurt but they taught me a lot. One of the things they taught me is my sense for a deal, this one seems like if it plays out is the next best thing to being an OG Bitcoin whale
Comment:
I would like to point out that Z-Cash's inflationary period is over (but most people only remember bad news generally so they probably heard it and it slipped their minds) and, just like Bitcoin (and my body literally tingles with excitement as I consider this) only 21 million Z-Cash will exist. 21 million. Only Monero has a lower total mint, but Monero is not Gemini's preferred private store-of-value coin that it's actively championing (and for which Graystone has a trust - that isn't available for sale in exchanges and only open to accredited investors - people with money get all the best things the cheapest, and that's how they stay rich, dontcha know)
Comment:
Have you noticed that in a sea of red all day, ZEC held against BTC? and is now 15% up against BTC? Can you see the strength this has when any volume touches it? Barely a tickle and it's raring to go. ZEC will rise vigorously once it clears $110
Comment:
5 straight 15% days. 100% up after ending up with MORE satoshis after the fall than before, This is the best call I have made this coin season, if not ever. Deeply grateful to the crypto gods for showing me this one
Comment:
Hot damn press play on the chart and look at that first weekly candle... nailed it freehand :p
Comment:
Not only am I adding to my position right here but I'm adding leverage. I've already doubled my portfolio with this stuff and it feels really nice trading what I know will eventually be the reserve currency of a nation. Baller!
Trade active:
Here we are, a few months later, and how did we fare? Looking at predicted vs. actual, not too shabby - and I smell the main event poking its head around the corner... Z-Cash is going to rip hard in 2021
Trade active:
Price is right at the downtrend resistance it's been stuck under for 2 years Will Z-Cash break through? See my new post!
