Why has ZEC increased +40% yesterday?

[xberg]

Hi,
I saw a substantial increase in ZEC-USD value: +40% in an hour yesterday.
What's the news?

[Red-Apple]

don't look for reasons each time you see a price rise in some altcoin. they are simply getting pumped, try to enjoy the ride while it lasts and get out before the big dump starts.

but if you are too interested, this was because gemini announced they will add ZCash to their platform. here is the link to the news:
https://www.forbes.com/forbes/welcome/?toURL=https://www.forbes.com/sites/michaeldelcastillo/2018/05/14/winklevoss-brothers-bitcoin-exchange-adds-zcash

[tokeweed]

There was a pump.  The reason 'why' doesn't matter.  What matters is getting in the trade and have a plan when you exit the trade.

You'd be wasting your time finding out why a coin went up but not acting on it.  Know when to enter a trade, know when to get out, have a stop loss, know how large of a trade to make.  Everything else is noise.

[MoneroMooo]

There was a pump.  The reason 'why' doesn't matter.  What matters is getting in the trade and have a plan when you exit the trade.

You'd be wasting your time finding out why a coin went up but not acting on it.  Know when to enter a trade, know when to get out, have a stop loss, know how large of a trade to make.  Everything else is noise.

that's a good comment. That's fine by me. everything we see here is trade. we write comments, shares and lots of things. 

if you can trade, don't question me. 

[Vit83]

Main question how long this price will hold. As I see lots of people go short now through the margin trades. And price still high.

[Reatim]

Hi,
I saw a substantial increase in ZEC-USD value: +40% in an hour yesterday.
What's the news?

Simply pump. Just wait for the dump.

Main question how long this price will hold. As I see lots of people go short now through the margin trades. And price still high.

It's not sustainable in the long run. If the price is still too high then it means that there are a lot of people who gets in. But the question is, are they going to get a good profit? I don't think so. Because they have bought it at the top price and sooner or later there will be pump, trapping you inside. And the only way out is to suffer a lost. Its gonna be a painful and expensive lessons to learn for newbies who FOMO'ed.

[Javi_Anibarro]

it was because of GEMINI listing.
also so what if ZEC went up for more than 40% ? because it will go higher from this point if you can keep it for a few years later.
(truth to be told it was not that great right ? because it ever traded at 3000 BTC when it got listed on poloniex a while ago)
but if you are holding it for a few weeks,i recommend you to stay away with it because it could go down at any time soon.

Main question how long this price will hold. As I see lots of people go short now through the margin trades. And price still high.

just do not touch it right now.
the chart looks so weird for me and i am not gonna lie to you,it will go down like what BCN did

fun fact : Gemini is not that great compared to Binance and Bittrex also it has a 'highest' fees compared to others,but it pushed the price that high.what does that means ?

[Vit83]

I understand that it will go down. The main question from what level. I fucked up with IOTa some time ago. Decided to go short. It made one more movement +30% and after that fall - 50-60% ) IMHO it could be another spike here in zcash) Who thinks like me and from what level going short)?

[tomahawk9]

Main question how long this price will hold. As I see lots of people go short now through the margin trades. And price still high.

It's not sustainable in the long run. If the price is still too high then it means that there are a lot of people who gets in. But the question is, are they going to get a good profit? I don't think so. Because they have bought it at the top price and sooner or later there will be pump, trapping you inside. And the only way out is to suffer a lost. Its gonna be a painful and expensive lessons to learn for newbies who FOMO'ed.

Don't underestimate the power of cryptocurrency newcomers/noobs and fiat pairs, they might pump this coin due to FOMO once Trading begins. If I had some fiat left, I would definitely buy some zec right now, I might not get good profits, but maybe decent profits.

And I'm not trying to shill Zcash as I don't even hold zec, but there's a good chance that zcash might be a good investment option for the long run. Gemini announced that they are "working to support withdrawals to shielded addresses in the future." ^[1], so I can see a spike in the price once this gets implemented...I mean, a privacy coin with a fiat gateway in a legit exchange? count me in.

1. https://medium.com/gemini/gemini-is-now-the-worlds-first-licensed-zcash-exchange-dfa7da992816

[Javi_Anibarro]

I understand that it will go down. The main question from what level. I fucked up with IOTa some time ago. Decided to go short. It made one more movement +30% and after that fall - 50-60% ) IMHO it could be another spike here in zcash) Who thinks like me and from what level going short)?

well even though the chart looks so weird in my opinion,
i think it would be better for you to not short it because it might go up just like what ETH did a while ago.
do not you think it would be better for you to miss this one other than get rekt ?
remember,everything is possible in cryptocurrency and doing something like this will make it even worst.
we have another day and another thing to do , right ? better safe than sorry mate

[leea-1334]

I actually mentioned in just another ZEC thread that I think it was because of the reason announcement by Bitmain on the new mining rig, and then followed by the Foundation owner's own announcement that he would try to prevent ASICs from taking over,,, even if he said that this was probably pointless. I know the jump happened today after the Gemini listing, but I think both combined moves took it up to 40%.

but yes,,, of course a normal spike with no explanation is also possible. This is crypto after all.

[Vispilio]

ZEC is a very solid project all around, already deserves higher price above 0.05 BTC (so around 450 USD would be fair value currently).

Next to its great anonymity features (arguably the most reliable privacy coin right now), it's perhaps the only top 20 coin whose mining rewards have remained stable and consistent amidst the ASIC storm. Expect the ZEC rally to continue ladies and gentlemen.