. Not sure if it's worth buying more zcash to hold and wait? It's at a great price maybe it will bounce back.... anyone care to elaborate.......
I wonder if a forum full of suppliers is the best place to ask whether or not you should buy their product. But I guess so long as you take it all with some salt (my thoughts included), more info is more info.
As someone who isn't selling (but also likes and mines Zcash), caution is warranted. There's no current reason to believe the price won't continue to steadily fall as the supply continues to accelerate (there will be 4 times as much ZEC mined between now and the end of the slow start vs. that mined to date). Without new demand beyond speculation, the price could stay super low for years, assuming Zcash ever finds market success. No one knows where the floor is, though $100+ seems an unlikely place for it. And no one knows when a sustainable bounce based on real market demand will come, if ever.
Currently there are only 30,800 coins in circulation (assuming there is no compromise at initial setup). In next 12 months it'll be 2.5 million coins, next 4 years is 10.5 millions. Now do the math to see how massive inflation will be and would this price can be sustained or not.
Okay so you're saying the demand for z cash is down but the supply is increasing. Okay well if the demand goes up with the supply maybe there might be some hope?
Demand went up already at the hyped launch, now the hype is dying. Sorry for your loss (if you already bought at these price).
Well hopefully they can find more use cases other than black markets for this coin that's only way I can see the equilibrium price go up
Not sure if serious ?
Its not a great price and its not a real price. Hope you havnt bought any at that price
Yeah the release price was crazy. There were actually quite a few that bought at around 25k$.
I think the price will bounce, that the way it works. The question is how low will it fall, before it bounces, and how high will it bounce.
As we still have a half of "slow-start" ahead the mining reward will keep growing and will double in around two weeks. That will keep oversupply pressure. And these days mining software race gives additional network hashpower boost on a daily basis. As of yesterday Claymore boosted his miner by 20%. That means 20% more supply as the next day miners upgrade and start selling their extra reward. Not good for the price at all. So you end up getting more ZEC while they get cheaper.
It should stabilize after the slow-start is over, I think. Look at the ZCL chart, it's fairly flat with stable mining reward model. So far down we go.
The market capital of zcash has tanked in the last 24-48 hours (I've been watching it but not that closely). In recent memory it was around $4.3 million and now it's less than $4 million. This has been pretty stable despite fluctuations in pricing, but it's concerning that it's going downhill.
It's a new currency so we don't have an all time low yet to take as a reference point. I expect it to go down a lot more coming 6 months. As long as the z-address is not fully working there will be no real use case yet as in no demand. At the same time miners are dumping the coins to pay for the electricity bills.
It will take a while for this coin to take off, the launch hype is coming to an end. The future will tell if this coin is succesful or not. Just keep in mind that 98% of alts die a slow death with the occasional lower high spike once in a while.