Zcash Shatters 9-Year Trend Against Bitcoin: Old Crypto Market Rules Dead
The Zcash (ZEC) vs Bitcoin (BTC) price pair has broken a nine-year trend, marking a historic technical breakout that signals the end of old rules in the crypto market.
This breakthrough occurred when ZEC consolidated at 0.007904 BTC, exceeding its 200-period SMA of 0.002567 BTC and shattering the pattern of continuous Zcash capitulation against Bitcoin since 2017.
According to Placeholder venture fund co-founder Chris Burniske, this current bullish cycle for Zcash is fundamentally different from previous ones.
Burniske notes that unlike in years past when short-term ZEC pumps were followed by an imminent collapse of the altcoin market, its current hold above key moving averages (20-, 50-, 128- and 200-period MAs) indicates a stable macroeconomic foundation.