Cryptocurrency analyst Joao Wedson recently commented on the remarkable rise of ZCash (ZEC), describing the asset as having entered a “historic performance zone.” According to Wedson, ZEC is currently trading above all on-chain price models, marking the second-strongest yearly performance in the altcoin’s entire history.
Wedson highlighted a key dynamic behind the current rally: aggressive selling by long-term investors. The analyst pointed to the CDD Multiple metric, which shows that very old ZEC coins—those that haven’t moved in years—are now shifting for the first time. This activity is adding additional volatility to the market.
Furthermore, Wedson noted that ZEC has surpassed levels previously only dreamed of for Bitcoin in terms of on-chain indicators. “ZEC has broken all the major on-chain levels we previously expected to see in Bitcoin, and it’s the first to do so,” he remarked.
Looking ahead, Wedson suggested that in an overly optimistic scenario, ZEC, which is entering its price discovery phase, could potentially target $1,650. However, the analyst also cautioned that even the current price carries rising risks and urged investors to remain cautious.
*This is not investment advice.*
https://bitcoinethereumnews.com/crypto/experienced-analyst-discusses-popular-altcoin-of-recent-days-it-could-triple-in-value-but-theres-significant-risk/