Raoul Pal sees the rise of Zcash as a capital rotation
According to Cointelegraph, the recent appreciation of Zcash (ZEC) may be more linked to a capital rotation than the beginning of a structural bull trend. This assessment comes from Raoul Pal, founder of Real Vision, who emphasized it is too early to confirm a bull cycle without the entire crypto market following the movement.
Even accumulating a rise of more than 699% since January, with the price around $385, ZEC has lost strength recently, falling about 37% in the last 30 days. For Pal, the formation of a solid price base will be essential to sustain new highs, and he is cautious about buying at current levels.
The rally occurred despite the weakness of the broader market, driven by increased interest in privacy tokens, optimistic forecasts from Arthur Hayes, and the advancement of institutional interest, including Grayscale's request to convert its Zcash fund into a spot ETF.