【ZEC is down 7% this week, but weirdly, I feel a little more at ease—here’s why】
ZEC’s performance this week speaks for itself:
24 hours ago, the price was still hovering around $ 1200. Seven days ago, it was roughly around $ 1316. A month ago? I won’t even mention that number—you know.
It’s down 7%, but you haven’t panicked. Know what I mean?
The market sentiment index is at 64, in greed territory. BTC accounts for 59.1% of the entire market and is still holding around $ 82000. On the surface, everyone still seems pretty optimistic.
But I noticed one detail—
That CoinDesk report said ZEC funds continued their outflows from October. Bitcoin ETFs saw outflows of $ 2.44 hundred million on Thursday, and the whole market is bleeding funds. The only one in the green was the XRP ETF.
Money is the most honest thing there is. Who’s getting out and who’s getting in—the data doesn’t lie.
ZEC is down 7% now, but more importantly, it’s already fallen 62% from its all-time high. Its valuation range is definitely low. Low enough that seeing that number makes me a little tempted to buy.
But low ≠ a buy.
Zcash developers say they’re working on quantum-resistant payments. Sounds impressive. It won’t be rolled out until January, and they’re talking about “public payment scenarios”—a scenario that currently accounts for 70% of all ZEC. I don’t know whether this solution will work or whether the market will buy into it.
What I’m more interested in right now is whether it can hold $ 1100. If it holds, the range-bound action continues and everyone keeps grinding it out. If it breaks, I reckon we’ll see a much more brutal shakeout.
My own position? You tell me.
Anyway, the scars from 2021 are still there, so I’m not going all in. But after watching all this unfold, honestly, am I really not tempted to jump in?
What about you? If you’re holding ZEC, are you planning to ride it out or ready to get out at any moment? If you’re on the sidelines, would you dare to buy here? Let’s talk.
ZEC’s performance this week speaks for itself:
24 hours ago, the price was still hovering around $ 1200. Seven days ago, it was roughly around $ 1316. A month ago? I won’t even mention that number—you know.
It’s down 7%, but you haven’t panicked. Know what I mean?
The market sentiment index is at 64, in greed territory. BTC accounts for 59.1% of the entire market and is still holding around $ 82000. On the surface, everyone still seems pretty optimistic.
But I noticed one detail—
That CoinDesk report said ZEC funds continued their outflows from October. Bitcoin ETFs saw outflows of $ 2.44 hundred million on Thursday, and the whole market is bleeding funds. The only one in the green was the XRP ETF.
Money is the most honest thing there is. Who’s getting out and who’s getting in—the data doesn’t lie.
ZEC is down 7% now, but more importantly, it’s already fallen 62% from its all-time high. Its valuation range is definitely low. Low enough that seeing that number makes me a little tempted to buy.
But low ≠ a buy.
Zcash developers say they’re working on quantum-resistant payments. Sounds impressive. It won’t be rolled out until January, and they’re talking about “public payment scenarios”—a scenario that currently accounts for 70% of all ZEC. I don’t know whether this solution will work or whether the market will buy into it.
What I’m more interested in right now is whether it can hold $ 1100. If it holds, the range-bound action continues and everyone keeps grinding it out. If it breaks, I reckon we’ll see a much more brutal shakeout.
My own position? You tell me.
Anyway, the scars from 2021 are still there, so I’m not going all in. But after watching all this unfold, honestly, am I really not tempted to jump in?
What about you? If you’re holding ZEC, are you planning to ride it out or ready to get out at any moment? If you’re on the sidelines, would you dare to buy here? Let’s talk.