using the same tools and strategy on Forex trading we can have a figurative value on how much we could earn on cryptocurrency, particularly zcash. Before we do the Math about the potential of this coin. Im gonna make a strong point on the movement of the market. In Forex there are many factors that a certain price of a currency will change. one example is the economy of the country which is measured by GDP. the amount of Jobless people will affect also movement of currency. If im not mistaken currency have 5 major market movers. meaning everytime this time will come out there will be really big changes of price. this is the reason many earn from this sudden and big movement. NOw lets talk about zcash as i have been reading more about this coin and watching closely for a week now its price movement, I am amazed on how fast and how big the price change. just like eur, gbp, jpy or usd prices changes fast. the only difference is zcash can move not by any fundamental or market movers result. It lies sole on the supply and Demand. take a look on this chart above it amazes me how quickly it can grow in just 6 hrs. As a day trader like me this is one of our favorite that we could trade with in a day and earn big.
so let me walk you to the potentials of this kind of movement
1 zec at around 7 pm the price was
0.082 BTC / zec after 6hrs the price is now
0.091 BTC/ zec
so given 1 btc = $730
Purchased 11 zec x 0.082 = 0.902 BTC = $ 658
6hrs later i sold all those 11 zec
Sold at 11 zec x 0.091 = 1.001 BTC = $730
$730 money profited after 6hrs
- $658 money spent to purchase
$72 Dollars profit in 6hrs
the good news about this is you could mine it although its not promising if you dont have fast gpu computers but the fact that you could produce it with out spending much is something you want to look at. Mine gather small, trade it and grow big. simple concept.
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