Zcash (ZEC) Slips 15% Daily, Yet Analysts View the Correction as a ‘Gift’

The cryptocurrency market took a significant step back over the past 24 hours after US inflation came in higher than expected (among other reasons). Bitcoin (BTC) dipped 3% on a daily basis, while popular altcoins like Zcash (ZEC) posted double-digit declines. However, several analysts remain optimistic about the privacy coin and see the pullback as a buying opportunity. New Rally Incoming? ZEC is down approximately 15% for the day and currently trades below $1,100 (per CoinGecko). Its market capitalization fell to nearly $18.3 billion, yet the asset remains one of the 10 biggest cryptocurrencies. Interestingly, its recent downfall doesn’t seem like bad news to some analysts. X Finance Bull said he sold his entire ZEC position earlier this year when the price hit $1,500.

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