ZClassic, Bitcoin Private Snapshot Gets February 28 Date

Zclassic(ZCL) may have another wild month, as it announced a February 28 date for its snapshot. This delays further in time the hard fork for Bitcoin Private, but also gives time for new demand to build up in ZCL.

Bitcoin Private is a curious hard fork, in that an existing blockchain will "become" a version of Bitcoin. One Bitcoin Private would be awarded to each holder of ZCL coins.

The snapshot date will see the hard fork happening a few days later. The plans for February were announced at a recent press conference organized by the Bitcoin Private team.

Initially, the Bitcoin Classic was expected around the middle of January. Yet as the network only ran tests, the snapshot was delayed. The price of ZCL also started climbing again, after dropping below $100. Currently, the coin has grown 30% in the past week, to around $148. It is unknown what value the brand-new asset would have.

For now, ZCL is also a relatively low-profile, niche asset. But the relation to Bitcoin helped raise prices quickly. Still, ZCL is volatile in the past days, moving between $160 and $120 within hours. Participating in ZCL right now is a matter of appreciating Bitcoin Private in the long run, as hard forks have their own path and the presence of the Bitcoin brand does not guarantee immediate success.

Privacy coins were all the rage at the end of last year. However, their market price has varied by a lot, and projects like Monero and ZCash are still establishing their reputation and their price is still susceptible to short-term pumps.

But in the case of ZClassic, some of the predictions have become outlandish. Another 10-fold increase in price is seen. However, the ZCL price has not even managed to double overnight, as the markets are much more cautious.

ZCL will have its issues in the coming weeks, including a "mining donation" of hashing power. The move is needed in lieu of a token sale or other forms of fundraising, in order to increase exchange adoption. At the moment, ZCL is only available in a handful of experimental exchanges.