Dramatic 26% Drop in Zcash (ZEC) Value in a Day: Is it Time to Offload?

Zcash (ZEC), a popular privacy coin, has seen a significant 26% drop in its value within a 24-hour timeframe, sparking debate among investors and analysts about whether it's time to sell. The cryptocurrency had previously achieved a high of over $700, but is now worth around $485. Some, like Arthur Hayes, co-founder and ex-CEO of BitMEX, and Degen Sing, a user of trading platform X, remain optimistic, believing this to be a temporary setback. Others, like another X user named Hardy, warn that if the price falls below $487, ZEC could devalue further, potentially down to $344 or $235. This decline echoes a wider downturn in the privacy coin sector, with coins like Monero (XMR) and Dash (DASH) also experiencing losses.