Zcash Falls Below $500 After 700% Year-to-Date Rally

Zcash has dropped below $500 after climbing more than 700% year-to-date from approximately $50 in September. Bitcoin maximalist Max Keiser forecasts the cryptocurrency could fall to $55. Institutional players including Grayscale and the Winklevoss twins continue expanding their positions in the privacy-focused asset despite the recent pullback.