Can this coin reach 10,000 dollars? To be honest, no one can say for sure right now.

That big shot Arthur Hayes from BitMEX has indeed called out this price twice, and there are indeed some signs in the market. But if it really comes to that? There are quite a few obstacles, at least don't think too much about it in the short term.

Let's talk about the bullish reasons first. The demand for privacy is becoming increasingly heated worldwide. ZEC's shielded pool has now accumulated nearly 5 million coins, accounting for almost 30% of the circulating supply. The daily trading volume is increasing, and the proportion of shielded transactions is also on the rise—this indicates that it's not just a temporary trend; people are genuinely using it. On the institutional side, there have been significant movements as well, with Grayscale reopening its ZEC trust and offering fee discounts and staking features, leading to a flow of funds back in. On the technical front, there's been no idle time either, the Zashi wallet has been upgraded, and the Tachyon project is advancing, indeed making it more competitive than before.

More importantly, ZEC is set to halve on November 18. With the new coin output being cut, the expectation of scarcity will immediately rise, which will definitely be a positive factor for the price in the long term.

But the problem is also clearly on the table. The most difficult hurdle is regulation. The EU has already stated that it will restrict privacy coin trading by 2027, and the scrutiny from the United States is also intensifying. Once policies tighten, liquidity could plummet dramatically. Additionally, ZEC is currently somewhat overbought; after a short-term surge, it is bound to correct, as this is the pattern.

The competition in the privacy coin sector cannot be ignored either. The strength of competitors like XMR is apparent, and ZEC's technological moat has not been fully established yet. If ecological construction cannot keep up with the pace, the valuation ceiling will not rise. Moreover, the crypto market is inherently volatile; when the macro economy changes or mainstream coins fluctuate, it is common for small coins to suffer as well.

So can ZEC reach 10,000 dollars? It's possible, but there are too many variables. It's good to be optimistic, but don't go all in.