The end of Zcrash? Zcrash price drops to $50

Crazy Review : From the perspective of recent trading days on CoinMarketCap, the price of Zcash has shown a basically stable trend, with the price fluctuation range gradually narrowing to between $45 and $46.5. This relative calmness is in stark contrast to the violent fluctuations when it first entered the market a few months ago. Although Zcash still has hope, investors have invariably chosen to wait and see for a while before investing in the digital currency.

Translation: Flora

In recent trading days, the price of blockchain-based asset zcash (ZEC) has shown a generally stable trend with minor price changes.

The token that powers the Zcash blockchain has fluctuated in value roughly between $44 and $48 since it began trading on CoinMarketCap on Jan. 7, a range that narrowed further today to between $45 and $46.50.

As of the time of reporting, 1 ZEC is trading at $45.43.

This relative calm is in stark contrast to the wild volatility it experienced in its first few months on the market. (As mentioned earlier, Zcash has successfully demonstrated its high visibility advantage through the use of zero-knowledge proofs zk-SNARKs, a technology that allows users to hide transaction amounts.)

Enthusiasm for innovation fueled frenzied speculation (ZEC reached over $2 million, or about 3,300 BTC, in October), and by the end of the month, the price had fallen to $500. By mid-November, 1 ZEC was trading for less than $100.

However, this instability appears to be receding.

Data from CoinGecko shows that in the past 30 days, the price of zcash has fallen only 8%, with a high of $56 and a low of $34, which is in line with the standard moderate peak-to-trough cycle of cryptocurrencies.

Price Discovery

While there is hope, it is still unclear whether ZEC’s stable price will mean new investment opportunities. Experts are divided on the matter.

Tim Enneking, chairman of cryptocurrency hedge fund EAM, said that at least in the short term, the price of ZEC is close to its true value. But he also said that he would wait and see before investing in digital currencies.

Petar Zivkovski, chief operating officer of Whaleclub, also expressed hesitation, arguing that emerging markets and strong competitive opportunities mean there are still too many unknowns.

He continued:

“There’s still very little supply of ZEC in the market, so I don’t think price discovery has really happened yet.”

Overall, it seems the jury is still out on how well cryptocurrencies are adopted and how their prices perform.

Zivkovski said:

“It will take a long time to determine whether ZEC is a good long-term bet.”