Digital Currency Group founder Barry Silbert is forecasting a massive, multi-year bull cycle for the privacy coin Zcash (ZEC),
He is convinced that the privacy-focused altcoin is gearing up to replicate one of Bitcoin's most historic boom phases.
The "Bitcoin playbook"
Earlier, crypto commentator Zachary Dash posted a chart of ZEC's recent price action. Silbert, a long-time advocate for the privacy coin, quickly chimed in to correct the timeline and offer an even more bullish outlook. "2013-2014 bitcoin playbook, actually," Silbert replied. "2015-2020 next."
In March, Foundry announced plans to launch an institutional-grade Zcash Mining Pool. Back then, Silbert stated that financial privacy would become more important as digital assets integrate with the traditional financial system.
The Foundry Zcash Pool officially went live during the same month. The impact was immediate, with Foundry reporting rapid hashrate growth that quickly captured approximately 30% of the entire network's hashrate.
Silbert stated that the pool was already serving multiple institutional customers actively mining the token, proving that "the financial privacy ecosystem is growing."
A top pick
Earlier this year, Silbert revealed his top picks for the incoming cycle include Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Zcash (ZEC).
Over the past year, ZEC has experienced 984.0% increase. It is up by 9.7% in the last 24 hours.
Zcash appears well-positioned to test Silbert's theory of a 2015-2020 Bitcoin-style breakout, but it will depend on Bitcoin's performance as well, given that altcoins remain highly correlated with BTC.
Dan Burgin
U.Today Editorial Team
