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#ZECExploitCleared
I read the panic news on Zcash ($ZEC) two days ago, did some quick research and I decided the price crash wasn't justified.
I bought a big chunk of ZEC at $316.
Price is now $418 and looks like it will go considerably higher. My target is around $486-$527 (pictured with gray rectangle).
Why didn't I think the price crash was justified?
• Zcash’s built-in "turnstile" mechanism verified no additional supply was created.
• Bug was fixed and yet people were panicing *after* disclosure. Made no sense.
• Protocol is MORE secure than before-- not less.
• Furthermore, from a general news standpoint, I have observed that negative news, if not borne out in lasting technical failure, is almost always quickly rebounded from-- within days usually.
Note that I will not be holding ZEC (or any altcoin) long-term right now due to the fact that we are in a crypto *bear* market. As such, it's just a short term trade for me. I'll likely sell within the next few weeks/month as BTC rallies in the short term, dragging alts up with it, as BTC often does.#ZECExploitCleared #NFPBlowout172K #BTCTreasuryRisk
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