Beginners

Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Privacy Coins Pull Back Sharply After Rally — ZEC, DASH Reverse Gains as BTC Rebounds

Source Tradingkey

TradingKey – Privacy-focused cryptocurrencies saw a collective retreat on Monday, October 13, diverging from the broader market rebound.

While most digital assets bounced back from last week’s crash, privacy coins like Zcash (ZEC), Dash (DASH), and Monero (XMR) reversed recent gains:

DASH fell nearly 9%, currently trading at $52
ZEC dropped over 6%, now at $241
XMR slipped more than 1%, priced at $310

altText Top 10 Crypto Decliners – Source: CoinMarketCap

In the days prior, privacy coins had briefly followed the market downturn before staging a strong rebound. ZEC led the charge, recovering all losses and nearly touching $300, its highest level in over a year.

Since October 1, when crypto analyst Nava remarked that:

“Bitcoin is insurance for fiat, and Zcash is insurance for Bitcoin,” privacy coins have shown a notable inverse relationship with BTC. That is, when Bitcoin rises, privacy coins tend to fall — and vice versa.

This dynamic suggests that some investors may be rotating between BTC and privacy assets based on macro sentiment and hedging strategies. As Bitcoin regains strength, privacy coins may face short-term pressure, though their role as alternative hedges remains intact.

Source

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Yen Slips as Japan Embraces Low Rates; Aussie Rises on Job Gains The yen weakens significantly against the euro and dollar after Japan's Prime Minister supports sustained low interest rates. In contrast, the Australian dollar gains strength following better-than-expected employment figures, reducing the likelihood of near-term rate cuts.

Author Mitrade

Nov 13, Thu

The yen weakens significantly against the euro and dollar after Japan's Prime Minister supports sustained low interest rates. In contrast, the Australian dollar gains strength following better-than-expected employment figures, reducing the likelihood of near-term rate cuts.

Bitcoin Plunges Below $100,000: Market Panic Intensifies as Analysts Warn of Bear Market Ahead Bitcoin's price has plummeted beneath the $100,000 mark, reflecting increased caution in the market toward risk assets. With large investment funds and corporate treasuries pulling back, signs of a bear market are becoming apparent, leading analysts to note a significant decline in market sentiment. Concurrently, demand for protective options in the derivatives market has surged, indicating heightened investor fears about future price movements. Despite Bitcoin maintaining some gains since the beginning of the year, recent trends raise concerns, necessitating close attention to upcoming critical support levels.

Author Mitrade

Nov 14, Fri

Bitcoin's price has plummeted beneath the $100,000 mark, reflecting increased caution in the market toward risk assets. With large investment funds and corporate treasuries pulling back, signs of a bear market are becoming apparent, leading analysts to note a significant decline in market sentiment. Concurrently, demand for protective options in the derivatives market has surged, indicating heightened investor fears about future price movements. Despite Bitcoin maintaining some gains since the beginning of the year, recent trends raise concerns, necessitating close attention to upcoming critical support levels.

Nvidia Earnings in Focus as Asian Markets Cautiously Await Key Economic Data Asian stock markets are on edge as investors eye Nvidia’s upcoming earnings report amid speculation surrounding interest rates and the broader implications for the AI stock rally and U.S. economic indicators.

Author Mitrade

Yesterday 06: 02

Asian stock markets are on edge as investors eye Nvidia’s upcoming earnings report amid speculation surrounding interest rates and the broader implications for the AI stock rally and U.S. economic indicators.

Yen Plummets to Nine-Month Low as Fed Rate Cut Bets Fade The yen hits a nine-month low against the dollar, driven by declining expectations for a Federal Reserve rate cut. Japanese officials express concern over the rapid currency depreciation and economic impact.

Author Mitrade

8 hours ago

The yen hits a nine-month low against the dollar, driven by declining expectations for a Federal Reserve rate cut. Japanese officials express concern over the rapid currency depreciation and economic impact.

Bitcoin Breaks Below $92,000 as Traders Debate Whether 4-Year Cycle Pattern Is Driving Sell-Off Bitcoin (BTC-USD) extended its losses on Monday, slipping below the $92,000 mark and pushing its decline from October’s all-time high to more than 26%. The ongoing downturn has reignited a key debate among traders: Is this a short-term correction, or the start of a prolonged bear market driven by Bitcoin’s historical four-year cycle?

Author Mitrade

4 hours ago

Bitcoin (BTC-USD) extended its losses on Monday, slipping below the $92,000 mark and pushing its decline from October’s all-time high to more than 26%. The ongoing downturn has reignited a key debate among traders: Is this a short-term correction, or the start of a prolonged bear market driven by Bitcoin’s historical four-year cycle?

Popular Symbols