Bitcoin advocate Max Keiser has made a bold prediction for ZEC amid its recent decline, with the altcoin now trading below the psychological $500 level. Keiser also used the opportunity to reiterate BTC’s dominance, declaring that the flagship crypto is the only digital asset that matters.
Max Keiser Says ZEC Crash To $55 Looks “Inevitable”
In an X post, the Bitcoin advocate stated that the ZEC ‘pump and dump’ is over and that a drop to $55 looks inevitable. He further remarked that “Bitcoin only” and that everything else is just gambling.
It is worth noting that Keiser isn’t the only Bitcoin maximalist to have warned of a Zcash crash. Earlier this month, Samson Mow alluded to the Dogecoin price chart, which highlighted the DOGE crash. He indicated that ZEC would suffer a similar fate and urged holders to pivot and use their gains to buy BTC.
These comments against Zcash come amid its decline. TradingView data shows that the altcoin is down over 29% in the last week. This decline comes despite the broader crypto market’s recovery, with BTC bouncing from last week’s lows of around $81,000.
Source: TradingView; ZEC Daily ChartHowever, despite the decline, ZEC remains one of the best-performing crypto assets this year. The altcoin is up over 700% year-to-date (YTD) and up over 800% in the last six months. Zcash notably surged from around $50 in September to as high as $700 this month, marking one of the most remarkable runs in the crypto market this year.
Institutional Adoption Of The Altcoin
Meanwhile, amid ZEC’s decline, Grayscale has filed to convert its Zcash trust into a spot ETF, which is bullish for the altcoin. The Winklevoss twins also recently announced the launch of a Zcash treasury company they are backing, in their bid to advocate for crypto privacy.
Another ZEC treasury company, Reliance Global Group, also announced that it has deployed additional cash into its Zcash (ZEC) position. The company stated that the altcoin’s technology and privacy-preserving features support their view that privacy-enabled digital assets may play a role in the continued maturation of the crypto market.
Zcash Fixes The Flaw In Bitcoin
ZEC advocate Mert recently noted that Zcash addresses Bitcoin’s lack of privacy. He stated that zero-knowledge can provide the same guarantees for auditability without revealing all information.
He further noted that the BTC tech was early and so bugs happened, but that it seems like the “inevitable tech-tree evolution.” Meanwhile, VanEck’s CEO, Jan van Eck, notably claimed that BTC OGs were exploring Zcash due to its much stronger privacy amid quantum threats and traceability concerns.
Source: https://coingape.com/bitcoin-maximalist-max-keiser-predicts-zec-crash-to-55-as-zcash-extends-decline/
