Bitcoin maximalist Max Keiser has issued a dramatic forecast for Zcash (ZEC), warning that the altcoin could plunge to $55 as it continues its recent downturn. ZEC has fallen sharply over the past week, despite broader strength in the crypto market, prompting Keiser to repeat his long-standing belief that Bitcoin is the only digital asset that truly matters.
Keiser Says ZEC Drop to $55 Is “Inevitable”
In a post on X, Keiser declared that the recent Zcash rally was nothing more than a “pump and dump,” and argued that a collapse toward $55 appears unavoidable. He again pushed the “Bitcoin only” narrative, calling other cryptocurrencies speculative bets.
Keiser’s bearish stance echoes warnings from other Bitcoin maximalists. Earlier this month, Samson Mow compared ZEC’s chart to Dogecoin’s historic crash, suggesting ZEC could face a similar breakdown. He urged investors to take profits and rotate into BTC instead.
ZEC has dropped more than 29% in the last seven days, according to TradingView data. This decline is happening even as the overall crypto market recovers, with Bitcoin rebounding from last week’s lows near $81,000.
Still, Zcash remains one of 2024’s standout performers. The altcoin is up more than 700% year-to-date and more than 800% over the past six months — soaring from roughly $50 in September to nearly $700 earlier this month.
Institutional Interest Continues Despite Price Weakness
Even as the price pulls back, Zcash is seeing increased institutional engagement. Grayscale recently filed to convert its Zcash Trust into a spot ETF, a move viewed as bullish for the asset. The Winklevoss twins also unveiled a new ZEC treasury company to advance the case for crypto privacy.
Separately, Reliance Global Group disclosed that it has added to its Zcash position, emphasizing that ZEC’s technology and privacy-preserving features align with its belief that privacy-enabled digital assets will play a key role in the crypto market’s long-term evolution.
Why Some See Zcash as a Crucial Upgrade to Bitcoin
ZEC advocate Mert argued that Zcash solves a major limitation in Bitcoin: the lack of built-in privacy. He explained that zero-knowledge cryptography allows full auditability without revealing sensitive data.
Mert also noted that Bitcoin’s design was early-stage technology and expected to evolve — making Zcash a natural progression in the crypto “tech tree.” VanEck CEO Jan van Eck added that many long-time Bitcoin supporters are exploring Zcash for its stronger privacy protections, especially in the face of rising quantum-computing and traceability concerns.
