Just have to remember there's about 215 000 new ZEC/ZCL/ZEN every month and to maintain the current prices markets have to eat quite a lot of new coins. Monthly volume is no where near in those levels it could absorb current emission so I believe there's a big hoarding going on from miners. Market cap rises fast just because of the emission. If the prices spike more from now we could see a big correlation once miners stop hoarding and cash out against fat buy support. Which sounds very crypto-like.
Yeah, the entire cryptosphere is in a bubble right now, so everything is enjoying a high at the moment. You're posting a sensible view that, unless there's enough demand, these could see lower values. ZClassic hit above $10 recently,
meaning it's now returned over 34 multiples from its low to high.
That's a nice return. Only very few catch the bottom, but for many investors these has been a nice ride so far. Can you count how much Market Cap multiply during that same span to recover my point of the emission?
I'm not sure that the current flow of money in the crypto world qualifies as a bubble.
There is a real need for alternative currencies around the world. In my view, it's just the beginning and big money is coming in.
It looks similar as Nasdaq in 1999. There are Googles and Boo.com in the jungle. People will gradually distinguish dogs from lions.
As for ZCL, we are all happy with the current valuation but I agree that it has probably risen too quickly. There are now less buyers and sellers seem to forget inflation. We will see if some profit taking happens in the coming weeks.