ZEC just dropped straight from 750 to 332. If the legendary trader Jesse Livermore were still alive, he’d probably light a cigarette and say slowly, “Same old recipe, same old flavor.”

Some of his classic quotes fit the current market conditions as if they were written especially for ZEC—

**“The biggest lie in the market is making you believe this time is really different.”**
Back in November last year when ZEC hit 750, who wasn’t full of confidence? Halving narrative, privacy sector revival, Grayscale ETF expectations… all sorts of bullish news piled up. And the result? Still crashed all the way down. The market never goes easy on you just because of your conviction.

**“The most torturous thing for a speculator isn’t a crash, it’s the slow bleed.”**
This current phase is the worst: dropping 3%, 5%, 8% every day, trading volume dying off, funding rates grinding on your nerves. Social media is full of complaints and doubts. Sell now, and you fear you’re selling the bottom; don’t sell, and you watch your account shrink every day. This kind of chronic bleeding is even deadlier than a one-off crash.

**“History always repeats itself, because human nature never changes.”**
The panic of 1907, the crash of 1929, the MEME frenzy of 2021, the altcoin blow-ups of 2025… the era changes and the participants change, but the storyline is always the same. Greed, fear, hope, despair—these are hardwired into human genes and never change.

Livermore’s most hated word was “hope.” He put it bluntly: as long as you still have a shred of hope in your heart, the market will keep bleeding you dry. Only when you’re completely discouraged does the real turning point arrive.

Now, with everyone bearish, trading volume drying up, and prices getting smashed at will… this is the classic moment he described as “the market forcing you to give up your last bit of fantasy.”

If he saw this price chart, he might say calmly,
“Wait a bit longer. When nobody is talking about it, nobody believes in it, and trading volume is completely dead—then that’s the real bottom.”
Then he’d turn around, make himself a cup of tea, and wait for the next batch of newcomers who “think they’ve caught the bottom” to come in.

The market is always right.
What’s wrong is always our judgment of the market.
He said this a hundred years ago.