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Zcash (ZEC) is closing the week in the $470-$480 pocket, but the price chart was not the main story. The spotlight moved to renowned Bitcoin evangelist Max Keiser, for whom the entire ZEC hype is nothing more than a “pump and dump” and that a return back to $55 is a realistic outcome for the privacy coin.
His comment landed while ZEC is already down 35% in the last two weeks, making it the heaviest step back since the run started in late September.
The scale of the rally is what makes his call stand out as ZEC went from $35-$40 straight into the $680-$700 zone in under two months, a jump of more than 1,400% and one of the fastest increases among major coins this quarter.
Even though a pullback into the mid-$400s is normal after a run like that, Keiser's target is far lower than a standard correction. A drop from the $680-$705 top all the way into the $55 region would remove close to 90% of the move.
What's next for Zcash (ZEC)?
Funnily, one X user resurfaced a 2018 tweet in which Keiser said he was "buying some ZEC," expanding the controversy even further.
A more realistic read now is that Zcash's price will either try to stabilize in the $420-$460 per ZEC zone or slide straight into the $300s if early buyers keep pressing with sales. The size of the earlier run makes deeper pullbacks more common, and if momentum does not return quickly, the market can easily revisit levels that were cleared on the way up.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team