ZEC is still up 144% this year—so why has it given back a fifth of its gains over the past month?
At 19:18 Beijing time, Binance spot ZECUSDT was trading at 1,252.32 USDT, up 2.23% over the rolling 24-hour period. BTC was down 0.48% over the same period, at 79,898.
First, the good-looking side: based on the UTC daily open on Binance on January 1, ZEC is up about 144% year to date, while BTC is down about 8.8% over the same period. BTC is still in the red this year, so ZEC’s performance really stands out.
Now, the less appealing side: among the most recent 30 completed UTC daily candles, the high was around 1,680 on September 27. From there, ZEC has fallen about 25%. Based on the open of the daily candle from 30 days ago, it’s also down about 24% over the past month.
Here’s the uncomfortable truth: a big gain this year doesn’t mean everyone buying now is making money. Those who held from the start of the year are looking at +144%; those who bought in a month ago are looking at around -25%. Same coin, two very different ledgers.
I’m watching just three things next:
1. Are the pullbacks getting shallower, or is ZEC continuing to hit recent lows?
2. Is trading volume keeping up during rebounds, or does it dry up as soon as the price rises?
3. Around this week’s Fed meeting, don’t use high leverage to buy into a coin that has already more than doubled.
Coins with big gains often have big pullbacks too—that’s two sides of the same coin. What price did you get your ZEC at this year?
This is not investment advice.$ZEC $BTC
At 19:18 Beijing time, Binance spot ZECUSDT was trading at 1,252.32 USDT, up 2.23% over the rolling 24-hour period. BTC was down 0.48% over the same period, at 79,898.
First, the good-looking side: based on the UTC daily open on Binance on January 1, ZEC is up about 144% year to date, while BTC is down about 8.8% over the same period. BTC is still in the red this year, so ZEC’s performance really stands out.
Now, the less appealing side: among the most recent 30 completed UTC daily candles, the high was around 1,680 on September 27. From there, ZEC has fallen about 25%. Based on the open of the daily candle from 30 days ago, it’s also down about 24% over the past month.
Here’s the uncomfortable truth: a big gain this year doesn’t mean everyone buying now is making money. Those who held from the start of the year are looking at +144%; those who bought in a month ago are looking at around -25%. Same coin, two very different ledgers.
I’m watching just three things next:
1. Are the pullbacks getting shallower, or is ZEC continuing to hit recent lows?
2. Is trading volume keeping up during rebounds, or does it dry up as soon as the price rises?
3. Around this week’s Fed meeting, don’t use high leverage to buy into a coin that has already more than doubled.
Coins with big gains often have big pullbacks too—that’s two sides of the same coin. What price did you get your ZEC at this year?
This is not investment advice.$ZEC $BTC
