Zcash Surge Drives Bitcoin Down: Inverse Relationship Continues

Zcash’s recent price surge of over 400% has triggered a drop in Bitcoin’s value, highlighting an ongoing trend of inverse relationship between the two cryptocurrencies. The unexpected jump in Zcash (ZEC) prices on October 29th led to Bitcoin struggling to maintain upward momentum. Market participants have observed this pattern repeatedly since 2020, with sharp ZEC increases often leading to Bitcoin price drops. Experts are questioning whether this trend will continue or if it’s a temporary occurrence. Arthur Hayes, a prominent crypto investor, even predicted that Zcash could reach $400 and beyond. The increasing trading volumes for ZEC suggest strong demand for the cryptocurrency, further adding to the market dynamics.