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Zcash's Wild Ride:....... Prices Spike to $400, Fall to $304 and looking Strong!

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The privacy-focused  zcash has had a wild 24 hours.

In a rally that started three days ago climaxed yesterday for Privacy-focused Zcash with its price US dollar (ZEC/USD) exchange rate reaching an all time high of $410, its highest level since June, only to fall back to $290 levels.

The volatile day driven by reports the coin could be listed on South Korea's exchanges. Indeed, the inciting news here appears to be news about the forthcoming addition of the cryptocurrency to Bithumb, one of the country's largest trading platforms.

Stepping back, the move can be seen as part of a larger trend wherein South Korea is proving to be the basis for strong upswings in cryptocurrency valuations, though zcash's increase might mark the largest to date.

At press time, the cryptocurrency is trading at $304 and looking strong to settle for a new base price after a long time.  The question is "is the rally in ZEC a flash in the pan" or something that could be sustained over the longer period? 

I believe it has set a new price level, which in my opinion looks sustainable.  The earlier $400 spike levels it attained will require some strong fundamental result and market deepening to be sustained.

Few other coins have done so well today...starting from GNOSIS, EMC2 to Ardor. 

Again, this is my perspective and not an investment advise.


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