BitMEX co-founder Arthur Hayes suggested that Zcash (ZEC) could eventually reach 10% Bitcoin Market Cap Long Term Bullish Privacy Coin Thesis Not Short Term Price Forecast. Based on ZEC’s circulating supply of about 16 million tokens, that scenario would imply a price in the high four-digit range, roughly $8,000 to $10,000, depending on Bitcoin’s valuation.
Noteworthy chart sample
On the technical side, traders indicate a possible cup and handle pattern, but this is a subjective chart formation with no guarantee of outcome. Resistance is often cited around $625-650, with some speculative projections suggesting a move towards $1,000, although this is largely dependent on broader market conditions and is not a confirmed target.
The target is also in line with ZEC’s Fibonacci extension of 1.618, drawn from the $745 swing high to the $185 swing low.
Pull Ahead Privacy Coins
A RABBIT does not move on its own. Monero and Dash, both privacy-focused tokens, have also made gains over the past month. But Zcash leads the pack. Reports show that the coin is up more than 80% in 30 days, while the total market capitalization of the crypto market has barely budged — up just 0.2% over the same period.
$RABBIT update
This thing is running its own bull market rn… gg
I closed my short. Especially with $BTC he is sitting on a support of about 76 thousand dollars
Even a small pump in Bitcoin makes ZEC completely stupid right now https://t.co/xLs6ficv7l pic.twitter.com/obAhbnXqfp
— SnorlaX Money (@SnorlaxOnChain) May 18, 2026
In the last three days alone, ZEC has added 18% while the broader market has fallen 3%. That split has prompted some traders to say that Zcash running your own bull market. Growing demand for financial privacy appears to be the main force behind the move, drawing renewed interest in a coin that has been largely overlooked for years.
Institutional interest adds fuel
Earlier in May, hedge fund Multicoin Capital revealed it had a position in ZEC. Around the same time, Robinhood added the token to its platform, opening it up to a wider range of retail investors.
Both developments came at a time when the privacy story was already building. Hayes’ comment added another layer. His estimate was speculative – based on comparison with market capitalization Bitcoin — but he drew attention and, according to the data, the value of ZEC in terms of Bitcoin has risen about 20.5% since he said it.
Regardless of whether the cup and handle is played or not, the coin has already proven that it can move on its own terms.
Featured image from Quicknode, chart from TradingView
