Cryptocurrency trading advice needed -- Zcash has f*cked me!
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.
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):
https://www.bitmex.com/app/trade/ZECZ16
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:
https://z.cash/blog/slow-start-and-mining-ecosystem.html
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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zHODL
Nice post. Good to see I'm not the only one that is thinking about this. I've bene asking myself. Do people actually check the Trustworthiness of the crypto they invest in or do they just blindly see money money money? :-) I really advice people to take a look at: https://www.coincheckup.com. They seem to give this complete indepth analysis of all cryptocoins. Sorted by team, product, company, advisors, previous investors, etc. On: https://www.coincheckup.com/coins/Zcash#analysis For the Zcash Detailed report