Raoul Pal says capital rotation could be fuelling Zcash boom
Raoul Pal suggests Zcash's recent surge may be due to capital rotation rather than a sustained bull market trend.Summary
Real Vision founder Raoul Pal believes the recent gains in Zcash, a privacy-focused cryptocurrency, are likely driven by capital rotation rather than a long-term bullish trend. While Zcash has seen a significant increase of 699.07% since January 1st, reaching $385.81, its momentum has slowed, with a 37% decline in the last 30 days. Pal emphasizes the need for Zcash to establish a stable base price before confirming a broader uptrend. He is hesitant to purchase Zcash at its current price but may consider it during a future market downturn. The surge in Zcash coincides with growing interest in anonymity within the crypto market and increased institutional interest, including Grayscale Investments' filing to convert its Zcash fund into a spot ETF, following similar moves with Bitcoin, Ether, Dogecoin, and XRP.
(Source：Cointelegraph)