Today is shaping up to be another intriguing day for all cryptocurrencies on the market. Bitcoin is starting to show a sign of recovery, which also drags all other altcoins with it in quick succession. Zcash is recovering from its recent dip below $125, as the value is surging once again in quick succession.
ZCash Price is on the Rise Again
For those people who trade in altcoins, it is well worth keeping an eye on Zcash in this day and age. This particular privacy-oriented cryptocurrency has noted a strong push last week, and it seems things are heading in a similar direction once again. After a brief dip after last week’s momentum, things are slowly moving up once again.
Over the past 24 hours, the ZCash price has noted a relatively strong gain again. A 4% push in the USD department and a similar gain over Bitcoin, things are looking incredilby good right now. A push to $130 might be a bridge too far, for the time being, although one never knows how these markets will evolve moving forward.
On social media, it is evident the ZCash price is currently the talk of the town again. Crypto Update is confident ZEC will have a lot of life left in the tank, as a good entry can be made at this price level. That is a very intriguing sentiment, albeit one has to wonder if the price won’t dip further.
— Crypto Update (@cryptoeternity) October 24, 2018
As is always the case in the cryptocurrency industry, there is at least one arbitrage opportunity. KoinKnight sees a complicated yet profitable triangular trade. Buying ZEC on Kraken and selling it for LSK on EXMO can lead to some very interesting gains. EXMO Is not the most liquid exchange, though.
— KoinKnight (@KoinKnight) October 24, 2018
There is still plenty of speculation as to which coins and currencies will get listed next on Coinbase Pro. As this new trading platform is undergoing some maintenance, speculation runs wild when things like these happen. It seems unlikely new coins will be added in the near future, and ZCash certainly doesn’t appear to be on the list.
— John P. Njui (@RasJohnNjui) October 24, 2018
For the time being, one needs to take these ZCash price gains in stride. Such an uptrend does not tend to come around all that often, even though there is a good chance the value will remain stable near $125 for the time being. That in itself is pretty interesting to keep an eye on, as this level is considered crucial for the remainder of 2018.