This Little-Known Cryptocurrency Is Up 217% for the Year. But Is It a Buy?
Zcash has been a standout performer this year, but its long-term track record is much less impressive.
Overview
Right now, Bitcoin (CRYPTO: BTC) is getting all the attention from crypto investors. And rightfully so -- it's up a staggering 40% from its summer lows. But there are plenty of other cryptocurrencies skyrocketing in value even faster than Bitcoin.
Case in point: Zcash (CRYPTO: ZEC) is up a heart-pumping 90% over the past 30 days and an even more impressive 217% for the year. So should investors be lining up to buy Zcash?
Details
The performance numbers are impressive, but zoom out and look at a long-term chart for Zcash, which launched in October 2016. For much of its existence, its price has flatlined. Take a look for yourself -- it's only in the past year that Zcash has shown any real signs of life.
Source
Originally published at www.fool.com.