Samson Mow, CEO of Bitcoin technology firm JAN3, has advised Zcash (ZEC) investors to capitalize on the privacy coin's recent surge by converting their profits into Bitcoin. Mow compared ZEC's price movement to that of Dogecoin, suggesting investors evaluate their positions and consider Bitcoin as a more stable investment. Zcash has experienced a remarkable rise of over 1,120% since September 28, reaching a market cap exceeding $10 billion.
Despite the rally, which has highlighted Zcash's privacy features and tools like the Zashi wallet, there are concerns about potential artificial price inflation. ZEC is currently testing an ascending channel with significant resistance at $598.35, and while the RSI indicates near-overbought conditions, momentum indicators such as the 9 and 20 EMAs and MACD remain bullish. Meanwhile, BitMEX co-founder Arthur Hayes has forecasted a potential rise of ZEC to $10,000.
Samson Mow Urges Zcash Investors to Shift Profits to Bitcoin
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