This is an update to the previous idea. I dont think the trade is over yet. The timeframe to watch is the weekly chart where it remains bullish. It consolidates above the june high after breakout with solid volume. Seems like accumulation to me. Because it holds above the previous high its likely that it will start another rally.
Komen
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I think that zcash mainly competes with bch at this time: A coin with btc codebase but cheaper transaction fee.
I think zcash is better than bcash because it is not controlled by a single mining corporation. The blocksize limit of 2mb seems like a better trade off than unlimited blocksize. Additionally It adds privacy.
Please dont compare a coin with actual new privacy technology (zerocash) behind it, with a total useless joke like BCH ! 90% of altcoins are both faster & cheaper (trans fee) than BCH. oh & they didn't try to steal peoples money by actively scammin/confusin people with a name trick, nor are they a private chain of some minin company.
Now Zcash might have its own design flaws & problems, but its a real low insult to even compare or mention its name beside a scamcoin like BCH.
TY
koryu
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@FFS, i dont got these emotions during trading. the new crowd wants to move money between exchanges to trade alts and they dont like to use bitcoin because of the high fee. so they look for an alternative which is liquid and cheap. my point is that bch is worse than zcash but still the value of bch is a lot higher. when it comes to privacy, there are barely shielded transaction on zcash that why it mainly competes with bch "at this time".
ffs_retired
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@koryu, oh, I didn't understand what you meant then, my bad.
I wasn't tryin to be emotional at all, just mentionin afew fundamentals & judgin them on a technical(computer/code wise, not TA) level. its unfair to even compare them.
You're right, any of those altcoins can be used as medium of exchange as you mentioned, I'm not assumin it will affect their price that much in the current insane market, but its a valid point.
Thank you for clarification & lets hope ZEC will reach those levels
IvanLabrie
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'A coin with btc codebase but cheaper transaction fee.' Good angle!
IvanLabrie
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Nice ;)
lucianfx00
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I think ZEC is more like BTG and ETH than BCH.But I agree with your view of 2000-3000 zecusd, although we might see eth there first.I bought some btgusd at 240, seems cheaper.
koryu
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@lucianfx00, I have swaped all my free btg to zec when the ratio was 1:1 :)
Now Zcash might have its own design flaws & problems, but its a real low insult to even compare or mention its name beside a scamcoin like BCH.
TY