Do yall see a rise from here? I believe we are poised to rise. ZEC appears to be the most anon coin at the moment. zK snarks are much more private than XMRs Ring CT
Have a crystal ball? Time will tell. It's early yet...
I believe it has several advantages over ring CT. It also serves as a currency better than XMR. Rumor is Alpha Bay is adding ZEC payments in the coming days.
you are going to save a lot of headaches if you understand that the price doesn’t depend on:features, good news, bad news, developers, etc etc. Price only depends in supply and demand and that is all. The rest is an unnecessary complexity that… SOMETIMES it works, OTHERS it doesn’t… HENCE it’s useless.
Have we reach bottom? I DON’T KNOW. The truth is : Nobody knows. Make it “okay” to leave with that.
The chart below shows that the demand at 0.043BTC is way
bigger than the supply. The market demand has been consistent and you can see
that every time there was a drop in price to 0.043 the market reacted and begun
to accumulate more at 0.043. That fact, demand being bigger than supply is what
is driving the price up now. The demand has ended with the supply at 0.043 and
now that the market has accumulated is feeling ready for going up.
We are just 15% up. That’s good. However, the ZEC traders in
general are really dumb. Every spike the
same pattern repeats only to go lower. I would like to meet the buyers and ask
them: Why are you buying at market like if this was the last train? Haven’t you
seen that there are plenty of opportunities? This clearly shows unexperienced
and no self-control.
It doesn’t really matter if it’s bottom or not. You can not
control that. What can you control? The size. Yes, not even the stop! Size is
the only variable that by the way is the most important and is the one nobody
will talk you about. SIZE MATTERS. I would recommend: have skin in the game, if
you consider the current RISK/REWARD ratio is good enough, let’s say 3:1 ( you
are willing to lose 1 dollar for the potential of earning 3) you can buy zcash
by placing an order of the 10% of the total of BTC that you would like to
exchange for ZEC. If you’re right, don’t be afraid to buy higher! If you are
wrong, look for the next entry point
BUT cryptocurrencies cannot not truly be affected by supply and demand because it's not a consumable assets(except ethereum but that's a whole nother mess). The only thing that can happen is more and more supply. The supply will ALWAYS grow and never go down unless of course someone started transferring coins to a burn wallet and literally stored all of the coins on a paper wallet or hard drive, burnt it, and then got rid of the ACCESS to those coins. Then the actual supply would go down.
Really coins serve two main purposes in today's societies: 1.Features and 2.MAKE MONEY.
The features do have a lot to do with the demand part, think of them as like sub-factors and not main ones. If the coin doesn't have unique functionality it's useless just like all of the other 200+ copycat coins out there already. Zcash comes along, newer features, interest provoked, demand immediately created.
Alright let's dump features and get to the real issue and I mean ISSUE that plagues developers, miners and simple users alike: TRADERS. The scourge of the blockchain, the most hated group out of all groups who promote crypto. Why? Because they control the price. Should they? No. here's why:
Supply/demand is a flawed projection to use for these main reasons: Traders hold a majority of the coins traded on the market with the ability to tear down or elevate a coin's traded prices within SECONDS. True supply and demand on the modern market is based off of consumers buying from retailers who buy from distributors who buy from manufacturers who buy from producers and vendors.
Coins have a single pane of supply chain: Miners mine and then sell to consumers and traders on the exchanges. Then supply and demand is out of the picture. Now it's all a numbers game.
Joe down the street doesn't buy his single Zcash from Richie Rich who holds a 30,000 ZEC position to sell.....Joe buys from the smaller cheaper guy, the price goes a down an insignificant amount, then Richie Rich gets tired of waiting for his coins to sell because he didn't mine them heck he may not even know how to mine, his roots extend from the Forex market, he may be using leverage! God forbid he doesn't have both a Buy and sell order in the same exchange via two different accounts just so he can drive the price down low buy in then create a price increase to make a profit and then DO IT ALL OVER AGAIN.
Us miners, we love it when new functions come out, sure we do it for the money but we do it because it's the Love of the game per say. Everything excites us, the features, the cool names, the algorithms, the calculators, the news on coindesk, all of it. If the price goes up miners get more pay out. Why can't the traders just jack up the price and trade Zcash at about $300-500 per coin. Who would it hurt? They still make their money and the miners have more incentive to mine because now we can actually ROI and spend our coins.
Think to Bitcoin now, price is going UP UP UP, the supply is just increasing more and more, but it's because of the features and adoption of it that is driving up the price, I can buy ANYTHING in the world with Bitcoin, all TAX FREE. Long Beach California has a huge strip of Bitcoin only vendors. Want a Lamborghini but only have Bitcoin? No problem, go drive out your new tax free car today!
Features don't affect directly but indirectly. Price is affected directly by large volume traders. Miners and developers who get paid of all of this Fugazi are affected by it all. The only say we have is about the features not the price.