Zcash Plummets 8% as Analyst Warns of Crash to $200

Zcash's price has dropped to around $1,470 after an impressive rally that saw its market capitalization briefly exceed $25 billion.

The privacy coin's value surged over 2,600% in a year, with several catalysts contributing to the upswing, including the broader market's resurgence and the launch of a spot Zcash ETF in Europe.

Crypto analyst Crypto Patel warns that the price could crash to $200 if the current cycle enters a distribution and downtrend phase. They predict this could happen within 1-3 years, with the local top potentially being around the $1,600-$2,000 range.

Patel's prediction is based on the cup-and-handle structure that suggests an extreme extension from a psychological perspective following the major rally.