Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Zcash (ZEC), a privacy-focused cryptocurrency that runs on zero-knowledge proof, continues to dominate community discussions in November. The coin is showing independent momentum that separates itself from the overall negative market sentiment.
Many experts have predicted that ZEC could reach $1,000 this year, based on several factors. The following analysis explains these motivations in detail.
Sponsored
Sponsored
Why Zcash can reach $1,000
ZEC is starting to move away from being a short-term speculative asset. It develops into a strategic reserve asset.
Cypherpunk Technologies Inc., backed by Winklevoss Capital, announced… Recently approx Additional purchase of 29,869.29 ZEC, worth approximately $18 million. This transaction complements the company’s previous purchase of 203,775.27 ZEC. As a result, Cypherpunk now has a total of 233,644.56 ZEC, with an average entry price of $291.04 per unit.
Therefore, analysts expect more companies to follow this trend and accumulate ZEC as a strategic reserve. Some are still waiting for a ZEC ETF to be approved.
Mert, CEO of Helios, predicted: Saying: “The Winklevoss twins started the first ZEC DAT. I hope higher buying pressure for the private DAT coin as it is illegal in many areas. There will also probably be an ETF. Shield / non-shield acts as a privacy Trojan horse on a planetary scale.”
Zcash has proven its independence from Bitcoin. Its movements are no longer dictated by the whims of the “King of Cryptocurrencies”.
Over the past month, Zcash and Bitcoin have maintained a negative correlation. When Bitcoin fluctuates, ZEC often moves in the opposite direction or remains more stable.
Sponsored
Sponsored
DeFiLlama data confirms this negative correlation. This indicates that ZEC has its own reasons It is not dependent on the fluctuations of Bitcoin.
Bitcoin generally leads altcoin trends. However, Zcash breaks this model with its focus on privacy. In a period of negative Bitcoin volatility, maintaining a negative correlation becomes a huge advantage for ZEC.
Third, the increase in social discussion around Zcash exceeds Bitcoin, which indicates the growing interest of retail investors.
appears Data LunarCrush reports that Bitcoin is still the leader in total mentions, with 17.97 million. Zcash recorded 346.72 thousand mentions. However, the growth rate of talk around ZEC in the past year has reached +15,245%. While the growth of Bitcoin was only +190%.
Finally, the technical indicators indicate the possibility of a crash.
According to the analyst Ardi on X, the chart of ZEC make up The inverse head and shoulders pattern on the 4 o’clock frame. This scenario suggests a target between $800 and $1,000 if ZEC breaks above the neckline at $680-$700.
In addition, Recent analysis by BeInCrypto supports this prediction. A daily close above $748 indicates an opening towards $1,010 and $1,332. Any drop below $488 will negate this scenario and restructure the situation.
