Crypto veteran and BitMEX co-founder Arthur Hayes predicts that just one altcoin will stay in an uptrend amid the market’s ongoing tight liquidity situations.
In a brand new weblog put up, Hayes says that privacy-focused altcoin Zcash (ZEC) has all of the substances to outperform the crypto market within the weeks forward after Bitcoin (BTC) plummeted to the $89,000 stage this week, dragging alts down with it.
“Over the weekend, I raised our USD stables place in anticipation of decrease crypto costs. The one crypto I consider can outrun the destructive greenback liquidity state of affairs within the short-term is Zcash (ticker: $ZEC). With AI (synthetic intelligence), huge tech, and massive authorities, privateness throughout most sectors of the web is useless.
Zcash and different privateness cryptos utilizing zero-knowledge proof cryptography are humanity’s solely probability to battle this new actuality. That’s the reason [former Coinbase chief technology officer (CTO) Balaji Srinivasan] and others consider the privateness meta-narrative will drive crypto markets for a few years to return.”
Earlier this month, Hayes stated that Zcash might soar greater than 3,064% from its present worth because of the power of the undertaking’s nameless options and coin swap mechanics.
“I believe that 10 to twenty% of the worth of Bitcoin fairly rapidly is one thing that Zcash might obtain. There may be your $10,000 to $20,000 worth goal on Zcash.”
Zcash is buying and selling for $632 at time of writing, up greater than 1,225% on the 12 months. In the meantime, Bitcoin is buying and selling for $92,597 at time of writing, up marginally on the day.
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