Arthur Hayes Predicts Zcash Could Reach One-Tenth of Bitcoin Price
- Price Target Prediction: BitMEX co-founder Arthur Hayes predicts that Zcash (ZEC) could reach a price equivalent to one-tenth of Bitcoin, approximately $8,193, representing a potential increase of over 1,300% from its current trading level near $571.
- Market Positioning Analysis: Hayes argues that ZEC's privacy features provide it with a unique value proposition that the market has not fully priced in, and achieving this target would require substantial capital inflows into ZEC, potentially leading to significant market capitalization shifts.
- Market Environment Consideration: Currently, ZEC is trading at about $571.9, and to reach Hayes' target, it would need to rally by approximately 1,332.6%, which would expand its market cap into the tens of billions, potentially placing ZEC among the top digital assets by valuation.
- Investor Risk Advisory: Hayes' commentary underscores the tension between the ideological promise of financial privacy and the practical realities of regulatory compliance in the crypto market, indicating that while a rally to $8,193 could yield enormous returns, the path to such a valuation is fraught with regulatory and market risks.
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Technical Analysis for BASED
Technical Sentiment Analysis for Based (BASED). As of , Based (BASED) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 5 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BASED stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BASED is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Based (BASED) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0318 | 0.0582 | 0.0785 | 0.105 | 0.125 | 0.152 | 0.172 |
| Fibonacci | 0.0582 | 0.076 | 0.087 | 0.105 | 0.123 | 0.134 | 0.152 |
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