Zilliqa TA: $1 target for Zil this cycle is VERY reasonable, and here's why
Where could the price of Zil go this market cycle?
Trying to deduce future price action is extremely hard to do, and it goes without saying, that there is no definitive way of determining the future price of any cryptocurrency, or asset class for that matter.
However, we can look at prior market trends to assess how the crypto market moved last cycle and the overall average returns gained by similar, or comparable cryptocurrencies. By looking at the past trends, we are given some insight into a potential path forward this cycle for Zil. It is almost a definite that the price action this cycle will NOT be the same as other coins, in terms of percentage gains, but, as we have seen time and time again, the trend very rarely repeats, but often rhymes.I think the best way to extrapolate a potential future price of Zilliqa is to look back at other promising cryptocurrencies with similar, or larger market caps to best assess where Zil could be headed this cycle. Also, by understanding the way liquidity flows during cryptocurrency cycles we can better understand when the price bubble might occur.
First of all, lets take a step back and appreciate the fact that Zil is up 7600% since March 13, 2020. That is a multiple of x76. So if you spent $1000 on Zil at around $0.002 you would have made a profit of $76,000, up to now. The odds of catching that bottom exactly, and holding throughout the entire bear market is very rare, but nonetheless, that is how Zil has performed for the last year, which is quite remarkable. So, congratulations to all of those who have been holding through the bear market, and buying when Fear dominated, because as we can see that is how significant gains are made.
Now, although most might assume in traditional market trading a 7600% percent return would be the top, and that continued future gains are unlikely, but I think the opposite is true with Zil. I believe we still have a lot more gas in the tank, and believe based on prior crypto bull c...