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Moonshot Week 13: Zclassic (ZCL) a Forking Dream

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Moonshot Week 13: Zclassic (ZCL) a Forking Dream

Read the twelfth part of our Moonshot series, which focuses on Komodo, here.

The market has finally turned bullish, and there seem to be many underpriced altcoins that have yet to appreciate. Each week BTCManager and the JaketheCryptoKing are going to explore a new moonshot opportunity.

We are in week 13 of this moonshot experiment! With the markets beginning a bullish turn and projects on the horizon this is the perfect time to acquire a coin that’s value is associated with its privacy tech and forking ability. The moonshot for the week beginning April 15, 2018, is; ZCL.

State of the Market

Bitcoin (BTC) has risen more than 20 percent this week which many are attributing to an impending bull run. Even so, the price of bitcoin is still down over 50 percent since mid-December. With market sentiment having just shifted from negative back to positive with the jump in BTC pricing it seems the cryptocurrency markets are poised to make another run. As BTC increases in value market sentiment continues to build and when bitcoin stagnates the altcoins generally appreciate more rapidly. Crypto traders and continuously searching for the highest yielding coin but those that return thousands of percentages are sometimes in plain sight.

Zclassic (ZCL) is down over 97 percent since its all-time high set during the period leading up to its prior fork. Once the fork occurred ZCL started to immediately correct. Now that the market has corrected and began to turn bullish coins which are “project targets” such as ZCL such be monitored as new big crypto endeavors are announced. Speculatively speaking, Twitter personalities have been hinting at another ZCL project for the last few weeks. If one does materialize expect a nice run in the price of ZCL.

ZCL (ZClassic): A Great Forking Coin

Given that ZCL has fallen more than 97 percent since its all-time high this leaves plenty of room to trend North. However, most investors and traders do not realize why the price of ZCL collapsed. Understanding what makes a coin valued by the crypto market is very important when choosing an investment target or moonshot. Utility increases value, and ZCL is a coin that is utilized as a privacy coin and specifically targeted by teams for large-scale projects for its forking capabilities.

The most recent price collapse of ZCL was due to BTCP forking off of it. ZCL had a run from under $5 in December to over $220 by the day of their fork, February 28, 2018. Even with a delay and multiple missteps ZCL traded above $200 per coin and BTCP (the fork of ZCL) is currently trading at $52 per coin. This means a new fork of ZCL if conducted by a skilled team with no missteps and greater community adoption should trade more than $52 per coin.

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The value increase that took place in December and January with ZCL coincided directly with the market trying to predict what the forked coin would eventually be worth. The price of BTCP is currently valued at over $50. With no new forks announced and no significant events on the horizon ZCL has fallen back to the $7 price point. Clearly when ZCL is a part of a project which involves a fork the value of ZCL increases dramatically. Many Twitter personalities in the last few weeks have been hinting at a team taking over another major ZCL project. If any projects get finalized in the next few weeks and if the forking team is lucky enough to catch a bull run ZCL could reach new all-time highs in the near future.

Having fallen more than 97 percent ZCL seems like a simple choice to select as part of one’s portfolio given its ability to be sent anonymously while providing the significant upside associated with the strong likelihood of a team undertaking another fork of it. This is a privacy coin with unlimited upside that has already had an unfathomable correction. An active community and new project will easily bring this coin back to life; the question becomes who will undertake it?

ZCL uses the underlying privacy technology of zk-SNARK which stands for, “Zero-Knowledge Succinct Non-Interactive Argument of Knowledge,” and refers to a proof of construction where one can prove possession of certain information without revealing that information and without any interaction between the prover and verifier.” This privacy technology allows ZCL users to remain anonymous went transacting with ZCL without revealing on the public ledger where the funds were coming from, where they were going, or what amount was being sent.

ZCL is currently priced at $6.88, with a market cap of 26 million. The numbers during the peak of the fork period were a market cap of over $600 million and a ZCL price of over $220. Forks greatly improve underlying technologies while adding features that many users desire. This ability to incorporate the best features of multiple coins onto one platform allows for forks to continue to remain valuable in the crypto space. This also continues to drive development of new technologies to better improve an already futuristic space.

The Time to Accumulate ZCL is Before a Forking Announcement

It is always essential to do your own research (“DYOR”) but currently, the signs are all signaling a bull run is on the horizon if it has not already begun. OTC pressure is exceptionally high on the buy side with orders stacking up in the hundreds of millions without sellers wanting to unload. This means that money is trying to enter the market at a pace not being displayed by the current price of crypto assets. Once the billions of dollars do enter the marketplace, the individuals that placed it in will likely make their presence felt, and the next bull run begins.

ZCL seems like a very plausible target for another big project as the resulting coin will likely be worth in excess of $40 (as BTCP is). This means ZCL would have to appreciate to the point of or beyond this price to incorporate the value of the upcoming fork. Will a team undertake a new fork of ZCL? Only time will tell.

 

To read the King’s prior articles, to find out which ICOs he currently recommends, or to get in contact directly with the King, you can on Twitter (@JbtheCryptoKing) or Reddit (ICO updates and Daily Reports).

You can read the entire Moonshot series here.

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