Zcash Will Rise to ‘First Stop’ Target of $1K: Arthur Hayes

Arthur Hayes, former CEO of BitMEX, suggests Zcash (ZEC) is poised for a significant rally, potentially reaching a $1,000 'first stop' target. Hayes' bullish outlook, initially shared on December 19, is based on the expectation that liquidity will quietly return to financial markets through short-term funding operations, boosting privacy and zero-knowledge technologies like Zcash. Since his endorsement, ZEC has already rallied about 40% to around $550. Technical analysis supports this long-term target, with one trader noting a breakout from an ascending triangle pattern reinforcing the $1,000 projection. However, another analyst cautions that a short-term pullback toward $400 is possible due to a rising wedge pattern, viewing this as a necessary 'normal reset' before the rally toward $1,000 continues.

(Source：Cointelegraph)