ZCash now looks like it is following a pattern that older Bitcoin followers recognize instantly. A steep surge, a heavy collapse, then a stretch of quiet trading that feels almost too quiet. Analysts such as Brian Cohen believe this familiar structure is not a sign of weakness for ZEC. It may be the early part of a larger cycle that many have seen before.
ZCash caught attention a few weeks ago after making more than a 10x climb in a very short period. ZEC price moved from a long period of slow trading and jumped toward $745 before losing momentum. ZEC price later settled near $356 at the time of writing. The decline made some observers assume that the excitement was over. The structure of the move tells a different story.
Brian Cohen noted a parallel that surprised many. ZCash declined from the $700 region to the $300 region in a manner similar to Bitcoin’s move from $1,200 to $250 during the 2013-2014 cycle. Speed and scale are different. Structure remains the same. Cohen explained that ZCash completed the emotional and technical arc almost 5 times faster than Bitcoin. Cohen observed that Bitcoin needed months, while ZEC completed the same sequence within weeks.
The ZEC chart shows a breakout from a strong base near $25 to $40. ZCash then rallied quickly until it touched the $700 area. A sharp pullback took the price near $300. Cohen linked this directly to Bitcoin’s move from $100 to $1,200 followed by the slump toward $250. BTC price followed a bubble to betrayal to boredom pattern. ZCash seems to be following the same rhythm at a faster pace.
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Bitcoin Price Collapse And ZCash Crash Came From Different Forces
Brian Cohen believes the reasons behind both crashes matter. Bitcoin fell in 2013 because the ecosystem lacked support. Early exchanges struggled to handle volume. Liquidity was thin. The Mt Gox collapse created fear. BTC price dropped as the market adjusted to its own immaturity.
ZCash now faces a different type of pressure. Cohen described ZEC’s drop as a liquidity compression event. ZCash float remains thin. Leverage positions unwound rapidly. Automated systems moved faster than retail traders. None of this pointed to weak fundamentals or an expanding supply.
Thin liquidity often creates fast declines. Thin liquidity also creates the conditions for equally fast recoveries. This is the reason Cohen believes ZEC may not be entering a long-term downturn.
How Zcash’s $700 → $300 Crash Mirrors Bitcoin’s 2013–2014 Collapse — Only in Fast-Forward
— Brian Cohen (@inthepixels) December 3, 2025
Zcash’s $ZEC recent correction from roughly $700 down to $300 is the closest structural analogue to Bitcoin’s infamous 2013–2014 crash from $1,200 to $250 — but happening at 5× the speed… pic.twitter.com/cNh9hSPJJm
Analyst Says ZCash Rebound Mechanics Resemble BTC Recovery After The 2014 Low
BTC found a bottom near $250 in early 2015 and entered a long consolidation phase. A strong expansion followed. The climb from $250 to $20,000 over the next few years remains one of the most discussed phases in crypto history. This cycle helped Bitcoin shift from a niche digital asset into a global economic topic.
Brian Cohen believes ZCash could be entering a similar phase. Cohen mentioned that ZEC has a capped supply of 21M units, the same structure as Bitcoin. Development continues through the Zashi wallet, Halo2 upgrades, and NU6 progress. Cohen stated that fundamentals remain intact even if price performance turned volatile.
BTC price moved slowly during its recovery because the broader crypto ecosystem was still forming. ZCash now moves inside a more mature environment. Faster cycles often create faster recoveries. ZEC may not need years to rebuild strength.
ZCash ZEC Reflexive Cycles Grow Stronger According To Brian Cohen
Bitcoin had no institutional structure in 2013. No ETFs existed. Institutional treasuries were not accumulating BTC. Narratives were limited. These gaps slowed the reflexive cycle that drives strong upside.
ZCash benefits from a different environment. Cohen explained that more Bitcoin holders now examine privacy-focused assets as part of broader portfolio strategies. Some traders explore a dual cap idea involving BTC and ZEC. ETF flows add regulatory comfort across the market. Derivatives create tighter price responses. Liquidity remains thin enough to produce sudden upside movements when demand appears.
Situations like this often spark surprise green candles. Cohen compared this setup to Bitcoin’s rapid move from $250 to $1,000 before it began the long move toward $20,000.
Brian Cohen pointed out that sentiment forms a crucial part of major cycles. Bitcoin reached a moment in 2014 when it seemed finished. Confidence was low. Narratives turned negative. BTC price stayed at the bottom long enough for doubt to spread. A major recovery followed.
ZCash appears to be entering that same emotional zone. Claims that ZEC will never revisit $700 look similar to the comments that BTC would never recover from $250. Development remains strong. The privacy narrative continues to gain attention. ZCash fundamentals keep improving. Market psychology appears to be repeating itself.
Cohen outlined the traditional sequence. Undervaluation begins the cycle. Enthusiasm builds. A sharp reset follows. Expansion returns as the final stage. ZEC completed the first three steps. This places the expansion phase as the next possible direction.
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ZCash ZEC Cycle Compression Explains Why The Bounce Could Be Fast
Brian Cohen highlighted one more detail. Bitcoin needed several years to move from its 2013 high to the next major breakout. ZCash moved through the same emotional pattern and structural shape within weeks. This level of compression often leads to faster reversals.
ZEC price shifted from accumulation to peak to collapse at a pace far quicker than Bitcoin ever did. Cohen explained that when cycles compress, recoveries can also compress. The next phase could arrive faster than expected.
A recovery is never guaranteed. A sharp bounce remains a possibility. These patterns simply help explain why some analysts think the ZCash story is not finished yet.
ZCash now stands at a point where fear feels heavy while fundamentals remain steady. The pattern resembles an early Bitcoin chapter replayed at higher speed. Time will reveal whether this compressed cycle becomes the start of a stronger period for ZEC.
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