ZClassic (ZCL) first appeared as fork product derived from ZCash. Later on, the mentioned fork turned into another fork, so Bitcoin Private was born. However, both, ZCash and Bitcoin Private stand for successful forks, while ZClassic was nearly proclaimed a dead coin nearly two months ago, back in March, when the team behind ZCL stated that there won’t be any further development performed on ZClassic, while they stated that ZCL is left without a dev team as the current team wasn’t able to find anyone who could become a good fit for ZClassic. However, ZCL doesn’t seem so dead anymore now that we can see ZCL spiking by over 13% against the dollar at this point while trading in the green. Is it possible for ZCL to get to the price of 100$ once again in the following months?
ZClassic is Back from the Dead: ZCL Spiking Up
It seems that ZClassic (ZCL) wasn’t among the luckiest forks as we could see it losing over 90% of its value during the last couple of months, although this fork seemed to be a promising blockchain project.
Apparently, ZClassic was forked out of ZCash during the time when the market has acquired a sluggish trend of trading in the red for a prolonged time, while the devastating market dip that took place during the great part of February and the entire March took the best out of ZCL.
That is how ZCL lost over 90% of its total value during a very short period of time, while almost being marked as a dead coin; since it was generally considered that ZCL won’t get to see any significant rises.
However, ZCL can once again be seen as it is trading against the dollar in the green, at the current moment going up by 13% while it managed to rise up by almost 100% in the period of the last couple of days, despite the shaky market that has been acting sluggish for quite some time now.
That is how it can easily be presumed that ZCL is slowly but steadily heading towards its previous flattering value of around 100$ per one unit. There is more than just a single reason to believe in this market prediction on the behalf of ZCL.
How Come ZClassic (ZCL) is Back Up?
It is most probably the case that the only reason for having ZCL losing so much on its value, while going down in the red by over 90% in a very short period of time is the fact that ZCL was just forked out at the wrong time as the market was acquiring a shaky trend of sending currencies up and down against the dollar.
Moreover, the market dip that soon followed up was the factor that additionally sank ZCL by sending it down by -90% against the dollar.
That means that with the cut of -90% of its total value, ZCL dropped from being traded at the price of 100$ to being traded at the price of around 10$.
Then, with the latest change in the market that took place during the last couple of days, ZCL spiked up by almost 100%, with having occasional minor drops in the meantime.
Given the fact that ZClassic was once a huge deal in the market due to its previous price of around 100$ while it later dropped to the price of around 10$, it is not a strange case that everyone wants to chip in on a good offer of buying a rather valuable coin at a very low price.
This case, naturally, increased the trading volume of ZCL during the last couple of days, which means that ZCL is now being traded at around 13$ per one unit, with huge odds of being able to reach the price of 100$ once again.
How is ZClassic doing at the Current Moment?
ZClassic (ZCL) surely doesn’t seem dead anymore as we can see it trading up in the green while gaining over 100% on its value during the past couple of days. At the end of June 1st, we could see ZCL rising up against the dollar by over 13% against the dollar, while it can be now seen as it is trading up against the dollar by 2.10%. In addition to trading up against the dollar, ZCL is also rising up in oppose to BTC by 2.11%.
Following the latest change in the market, ZCL can be currently traded at the price of 13.86$ on June 2nd, with great odds of slowly rising up towards hitting the value of 100$ once again, which could easily become the case in the following months, in case ZClassic (ZCL) continues at the same or a similar pace of growth.