A few weeks ago, Zclassic (ZCL) was around $4 a coin. It was a fork off of Zcash because they didn't like the founders award. It basically wasn't going anywhere. Then Rhett Creighton popped in with a great idea. Forking Zclassic and Bitcoin to create Bitcoin Private (BTCP)
This hasn't been done before. What I mean is 2 coins forking to create 1 new coin. Offering a 1:1 split from BTC and a 1:1 split from ZCL for BTCP. This caused quite a spectacle. 2 coins offering the same split. One is $11,000 and one is $4. You can imagine what happened with ZCL. If first hit $35, then $80 within a day. At its peak it reached $250 before the market tanked. Current prices are around $105.
The prices have traded in the $150-$200 range, expecting a fork date at any time. Rhett released an update that they were testing the new wallets, updating the code and were preparing to test the new blockchain. He also stated the fork date would be released 4 weeks after the announcement. The price of ZCL fell due to the extra two week delay.
Currently, the announcement could fall right around Feb 1. With the current depressed price, investing into this coin could yield a nice 100-200% gain. There is no way to tell what the price of the Bitcoin Private price may be, but with the relatively cheap price of Zclassic, and a 1:1 split, add that with the gains ZCL achieved when the news came out, it's safe to assume it will be at least $250. This could be similar to what the Bitcoin Gold fork did.
Here is the site for the BTCP website for updates and additional information.
http://btcprivate.org/
There is a lot of speculation on what BTCP will be. Some think it could be the level of Bitcoin Cash or even more. I think its safe to assume it will be above $250 when it launches. No doubt, the month of March is going to be an exciting time for this new privacy coin that has a lot of the best functions of Bitcoin and Bitcoin Cash, and Bitcoin Gold.
The biggest issue will be what happens to ZCL? Most are thinking the price will return to its original, sub $10 level. Rhett has made it known that he would like to see the ZCL community continue with development. My opinion is, I think there will be significant selloffs right before the snapshot date. It will take a strong hand to watch the price fall right before. This is what happened with Bitcoin Gold. If you want to be against the grain and look for potential value, have a buy order set up right before the snapshot. You may pick up coins at a cheaper rate, then get the split for the new coin. I think it's safe to assume the price will dump post snapshot. Be prepared for ZCL to go down significantly.
With the last sentence above, it is important to realize that you aren't buying ZCL for the future of ZCL. You are buying this coin for the future of BTCP. With the possibility of it being worth thousands per coin, it wouldn't hurt to have a couple coins to hold, just in case. One thing is for sure. There is a lot of uncertainty going into this fork. Those willing to take the risk could look back in a few months and laugh all the way to the bank.....or not.
*** I am not a financial advisor. This blog is for entertainment purposes only. Please do your own research before blindly buying any cryptocurrency. There is always a chance you lose a significant portion or all of your investment. Please be advised***
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ZCL: t1PtPqwzuUnaovRz6Bn8wQEcLmts2GUKLUh
BTC: 3Azp6bmwhB8qWfw9GdnNoTzHWmqEKDdpzZ
ETH: 0xd24c22f098cfb649c90df6784ca3766d0d8d948d
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