An impressive rally has resulted in gains of 332% in the past month of ZEC, helped by the support of a handful of crypto billionaires like Arthur Hayes.
Given this latest vertical ascent, the founder of BitMex holds a bullish Zcash price prediction that sees the token rising to $10,000 in the near term.
Hayes has been a vocal supporter of Zcash’s value proposition. This Bitcoin hard fork was created as an anonymous version of the top crypto. It allows users to transfer crypto assets without leaving a digital footprint.
In a recent X post, Hayes said that Zcash could rise to $10,000, possibly as adoption among wealthy investors continues to accelerate.
The growing popularity of the Grayscale Zcash ETF (ZCSH) has also contributed to its latest rally.
This is a regulated vehicle through which accredited investors can get exposure to the token in the United States.
Zcash Price Prediction: ZEC Could Make Its Way to the Top 10 If It Climbs to $1.5K
ZEC has climbed to the 15th spot in the leaderboard with a market cap of $10 billion. Since the year started, it has produced a 1,081% gain.
The daily chart shows that the token broke out of its ascending price channel, as the rally accelerated instead of slowing down.
The Relative Strength Index (RSI) just entered overbought territory in this high time frame.
This indicates that positive momentum is rising rapidly.
Although this increases the odds of a short-term pullback, it also indicates that buying pressure remains quite strong.
The $1,500 target seems plausible at the time, especially with such strong support from prominent voices in the crypto space.
At that level, Zcash would reach a market cap of $24 billion and enter the top 10.
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