Hi Steemmates!
It's a long time ago I posted something.
Today I feel like I found an interesting trading opportunity in the cryptocurrency space!
Zclassic has risen from $2-$9 dollars to 150$-250$ in November-January. It is a fork from Zcash and has Z-snarks technology. This makes it an interesting project to fork from. Bitcoin Private (BTCP) has done this on 28 February. They announced it much early and that gave the price an enormous boost to over $250 and some point.
The price has plunged to $8.64 since 28 February.
Reasons:
- People sold after the snapshot for BTCP.
- The development team left.
Zclassic is a more fair version of Zcash. Zcash is seen as one of the best privacy currencies.
Zclassic does not have the 20% of rewards going to the developers. Zcash developing team will end up with 10% of the total supply. This is in my opinon too much to give it a shot at being a world currency.
But lets go the trading opportunity. It fell massively -93%. With awareness of the project to a twitterpage with 33k followers: twitter.com/ZclassicCoin
Webiste: Zclassic.org
I can't see this project going back to $2. I do not know for certain where the bottom is but we are seeing support around $9-$10. From experience: Most markets that come down in fear and uncertain will come back up at some point. I see a buying opportunity between $8-12.5$ and I will sell around $30-$35 again. -93% In 2 days is just insane! There is blood on the streets guys.
Potential big pumps:
- A new developer picking up the project.
- A new fork using Zclassic.
Look into it for yourself, I'm just here to show you a potential opportunity. NO FINANCIAL ADVICE. Just my opinion. Good luck on the streets!