Cryptocurrency trading advice needed -- Zcash has f*cked me!

in trading •  3 years ago 

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So instead of cashing in my STEEM right away, I traded it for Bitcoin and decided to buy some Zcash with it. I bought the Zcash for about one BTC each, then a little bit more at about .75 BTC each.

I bought most of it about here.

As you can see, the value of Zcash has been plummeting... ZEC/BTC is about 0.15 right now... Should I just sell this crap, or hold onto it in case it ever goes up any? And if I hold onto it, should I just sell it when it goes up a little, get my money back, or wait to make a profit (I doubt that will ever happen). Tell me your thoughts! And don't worry, I only put in about $10 of BTC in this.

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  ·  3 years ago (edited)

I would sell it now, and if you think zcash is good, buy again in December.
You can check the future price for Zcash at bitmex(which is a good indicator of future trends):

Zcash supply is bigger every day, because of the slow start. The block reward will reach the normal size around early December.
More info about zcash slow start:


Thanks or the resources!

charlie if I only had $ 10.00 in it I would hold on until its worth nothing or I have a profit

If you sell it now, your loss will be permanent. There is a chance that ZEC might be of high value once it has an ecosystem similar to BTC. But to reach 1 BTC again... that will probably take a very long time. Years. And it's not certain that it will. The price went way over the top because there was basically no ZEC available... and there will be a lot more soon, so the price will go down short- and probably midterm.

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