The massive dump has been caused by miners liquidating. Levered futures players are also getting washed out
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powerful bullish candles. green body and long lower wicks (with increasing volume)
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continues to build bullish series of candles, volume continues to increase
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all bullish momentum has been lost, but in Aug 2023 at $25 the bear market cycle appears to be nearby. scaling in under $25 will provide good R:R returns for late 2024-2025 bull market returns
ZEC will not even reach 100. Many folks are talking of 1500 and 5000 which is strange
mb210869
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@Yaser65, would love to know what you basis is in coming to this conclusion?
noam_chom
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@mb210869, my opinion about ZEC is that it could reach somewhere between 10-20X from the cycle low. If we assume the low is $22.00 then it would make a high in 2024-2025 somewhere between $200-450 approx. Ideas of $1500 or higher are delusional, reaching that height would take 5 years of viral adoption of Zcash
NYCADEPT
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@Yaser65 how on earth based off the monthly, did you deduce this?