I read the panic news on Zcash ($ZEC) two days ago, did some quick research and I decided the price crash wasn't justified. I bought a big chunk of ZEC at $316. Price is now $418 and looks like it will go considerably higher. My target is around $486-$527 (pictured with gray rectangle). Why didn't I think the price crash was justified? • Zcash’s built-in "turnstile" mechanism verified no additional supply was created. • Bug was fixed and yet people were panicing *after* disclosure. Made no sense. • Protocol is MORE secure than before-- not less. • Furthermore, from a general news standpoint, I have observed that negative news, if not borne out in lasting technical failure, is almost always quickly rebounded from-- within days usually. Note that I will not be holding ZEC (or any altcoin) long-term right now due to the fact that we are in a crypto *bear* market. As such, it's just a short term trade for me. I'll likely sell within the next few weeks/month as BTC rallies in the short term, dragging alts up with it, as BTC often does.

Share







Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.
