Home / Crypto Currency / ZCash Price Enters an Accumulation Phase between $125 and $130

ZCash Price Enters an Accumulation Phase between $125 and $130

Most of the top cryptocurrency markets remain in the red, for the time being. That is primarily because Bitcoin is slowly bleeding value In such events, altcoins are often dragged down with this negative momentum. One notable exception in the top 20 is ZCash, as it remains in the green without much effort.

ZCash Price Shows Lots of Positive Potential

It is evident all of the top alternative currencies follow Bitcoin’s price curve first and foremost. While that is not necessarily a bad thing, it is also rather problematic when it comes to altcoins in general. This symbiotic relationship with Bitcoin hinders their chances of breaking out on their own power. Things are seemingly a bit different when it comes to ZCash, one of the privacy-oriented cryptocurrencies.

In the past 24 hours, ZCash is the only notable currency to go in the green again. Every other currency has lost value, either in a marginal fashion or through medium-sized deficits. In the case of Zcash, however, things are very different, as it is still up by 1.6% in USD value and gained nearly 3% over Bitcoin itself. That is quite promising when looking at the bigger picture.

Looking at social media, it seems GCG Market Research is paying a lot of attention to Zcash for the time being. They even go as far as claiming how ZEC will outperform potentially all other cryptocurrencies in the remainder of Q4. A very ambitious statement, as it will not happen unless there is some truth to the Coinbase listing rumors. So far, those are still false.

There are those who tend to publicly debate the stagnating developments affecting other cryptocurrencies. Andreas H is one of those individuals, by the look of things. In fact, he sees this as a situation which will benefit the interest in Zcash. While there may be some truth tot hat idea, comparing both currencies in any way makes literally no sense whatsoever.

As is usually the case when cryptocurrency market prices make no real sense, arbitrage opportunities pop up out of nowhere. Arbing Tool confirms buying and selling ZEC across different exchanges can yield some very quick profits for virtually no work involved. Taking advantage of these market options is easier said than done, though.

Based on the current market conditions, it seems unlikely ZCash can remain at this level for a long time. After all, no cryptocurrency ever escapes the vacuuming black hole that is Bitcoin. For the time being, it seems a value above $125 should be possible for a while longer, but retaking $130 may be a bit too difficult.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

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Bitcoin Cash Price Gets Skewed due to Exchange Trickery

A lot of confusing action is taking place where the Bitcoin Cash price is concerned. Although its actual decline in value is quite obvious for everyone to see, the real price of BCH is not necessarily what people can see on Coinmarketcap. This is primarily because numerous exchanges treat BCHABC as Bitcoin Cash already despite nothing being decided in terms of which chain will be the longest. Bitcoin Cash Value Fluctuates Heavily Depending on where traders look at, the price of Bitcoin Cash will be either close to the $400 level or down to $250-ish. That is quite a large gap between prices, yet one that is also very easy to explain. Bitcoin Cash, as people knew it before the fork, no longer exists. Most professional exchanges have also retired this price ticker, for the time being. As the hash war rages on, there are still a lot of unknown factors waiting to be addressed. Despite this ongoing kerfuffle, there is a net 5.76% decrease in the Bitcoin Cash price, and a 5.4% decline over Bitcoin. More specifically, that is what CoinMarketCap reports at this time, although this is not necessarily the case whatsoever. In fact, some exchanges are clearly jumping the gun by labeling BCHABC as BCH and thus dragging the Bitcoin Cash price down a bit more. Exchanges currently engaging in this activity include Bittrex and Coinex, neither of which plays a big role of importance when it comes to trading. However, based on the current value of BCH on Bitfinex and Gate.io, it seems a similar incident is taking place. One also has to keep in mind Bitcoin Cash was getting battered ahead of the network split as well. Most exchanges have halted trading of BCH indefinitely, primarily because the currency no longer exists. It is evident either BCHABC or BCHSV will take over that name in the future, but nothing has been decided at this point. As such, any trading referring to just “Bitcoin Cash” or “BCH” should be avoided, as most users can never be sure which currency is effectively being traded under this name. All of this skews the picture pertaining to Bitcoin Cash altogether. Coinmarketcap reports there is still $392m in trading volume for BCH, even though that is virtually impossible right now. With so many exchanges freezing deposits and withdrawals, it is evident actual BCH trading is no longer possible whatsoever. Virtually all platforms have deposits of BCHSV and BCHABC frozen as well, which only makes this market trend more confusing. It is safe to say the entire network split has been a bit of a mess first and foremost. In the case of Bitcoin Cash itself, that name will – under the current circumstances- not be used across exchanges for much longer. Instead, the two separate camps need to be treated as such first and foremost. Until things settle down – with might not necessarily happen anytime soon – the Bitcoin Cash price itself is pretty much irrelevant for most traders and speculators. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post Bitcoin Cash Price Gets Skewed due to Exchange Trickery appeared first on NullTX.

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