For majority of cryptocurrencies, it is always all joy when the prices drop, but that is not the case with ZClassic ZCL. Even the slightest drop in prices in the cryptocurrency markets translates to a better chance of purchasing the specific cryptocurrency under consideration.
For instance, if a cryptocurrency token was going for $12 and after a while the price drops to $11, it means investors will be purchasing the tokens at a cheaper price. However, for you to invest in a cryptocurrency, you have to be sure that the crypto coin has a bright future. It is not just a game of trial and error. You should have some facts to support your anticipations/speculations.
What is happening to ZClassic lately?
From mid-January 2018, ZClassic (ZCL) has been on a constant depreciation for over two months now. At first, investors thought that it was just the normal retracement, especially after the price hike that occurred from 21st December 2017 to mid-February 2018; only for the prices to fall drastically.
From 18th February to 2nd March, the price of ZCL dropped drastically from $188.97 to $10.89. This was a 94% depreciation in a period of less than a month and this got investors bare footed with most losing much of their investments.
As if nothing happened, the price of the cryptocurrency has continued to depreciate further to even below $5.
Over the past few days, the price of the crypto coin has improved slightly, although not very significant.
Can one invest in ZClassic now?
For most financial markets, it is always advisable to purchase assets when the prices are low with anticipations that the prices will rise. However, you have to do some serious analysis and determine if there are hopes of the asset ever appreciating any time soon.
For ZClassic ZCL, the price seems to be yet to appreciate. The slight increase from $3.08 USD on 30th March to the current $5.31 USD is quite insignificant considering the bearish trend that has dominated the crypto coin over the last two or so months.
For now, the best advice would be to give the coin some time to sought itself out before investing in the coin. But if you have a lot of cash, you can invest a portion in ZClassic since even if it was to become valueless, you would only stand to lose about $5 per token.
You should be on the lookout for any new developments or news about ZClassic and especially those that will involve project to make ZClassic ZCL a better investment option. At the moment, the development team is yet to announce any release.