WHILE 67 ALTCOINS BLEED ONE COIN JUST PRINTED GREEN AGAIN
Sunday opened red and ugly
Out of the top 90 assets 67 are bleeding red this morning
BTC is holding 82K like it is paid to stand still
FIL down 7 percent PUMP down 7 percent TIA down 8 percent STRK down 12 percent
And then there is XMR sitting at 585 dollars up almost 6 percent on the day with 169M in volume
Privacy is the only sector that refuses to join the dump and the reason is not subtle
Zcash just had its entire Electric Coin Company team walk out
CEO Josh Swihart left over a fight with the Bootstrap board about monetizing the protocol and privatizing the Zashi wallet
ZEC is down 4 percent to 1135 and bleeding developer confidence while XMR is eating its lunch
Add the October 5 FinCEN withdrawal of both the unhosted wallet rule and the mixer proposal and privacy has a regulatory tailwind it has not had in years
Glassnode has the privacy segment up 213 percent this year from 7 billion to almost 34 billion
Three coins in the sector this morning
$XMR at 585 up almost 6 percent holding above both its 7 day and 30 day moving averages the clear rotation leader
$ZEC at 1135 down 4 percent the fallen king with no team and a new wallet called CashZ on the way
$DASH at 49 flat on the day surviving the red wave quietly
TRADE SIGNALS on $XMR
Entry zone 560 to 585
Target 600 then 650
Stop loss under 540
A daily close under 540 kills this read completely
My take as an analyst is simple
This is not privacy hype this is capital voting with its feet while Washington backs off and Zcash implodes
I side with XMR until 600 either breaks clean or rejects hard
Does XMR tag 600 before next Sunday or does it fall back to 540 first
#BinanceSquare #WriteToEarn #Crypto #Bitcoin #PrivacyRally
Sunday opened red and ugly
Out of the top 90 assets 67 are bleeding red this morning
BTC is holding 82K like it is paid to stand still
FIL down 7 percent PUMP down 7 percent TIA down 8 percent STRK down 12 percent
And then there is XMR sitting at 585 dollars up almost 6 percent on the day with 169M in volume
Privacy is the only sector that refuses to join the dump and the reason is not subtle
Zcash just had its entire Electric Coin Company team walk out
CEO Josh Swihart left over a fight with the Bootstrap board about monetizing the protocol and privatizing the Zashi wallet
ZEC is down 4 percent to 1135 and bleeding developer confidence while XMR is eating its lunch
Add the October 5 FinCEN withdrawal of both the unhosted wallet rule and the mixer proposal and privacy has a regulatory tailwind it has not had in years
Glassnode has the privacy segment up 213 percent this year from 7 billion to almost 34 billion
Three coins in the sector this morning
$XMR at 585 up almost 6 percent holding above both its 7 day and 30 day moving averages the clear rotation leader
$ZEC at 1135 down 4 percent the fallen king with no team and a new wallet called CashZ on the way
$DASH at 49 flat on the day surviving the red wave quietly
TRADE SIGNALS on $XMR
Entry zone 560 to 585
Target 600 then 650
Stop loss under 540
A daily close under 540 kills this read completely
My take as an analyst is simple
This is not privacy hype this is capital voting with its feet while Washington backs off and Zcash implodes
I side with XMR until 600 either breaks clean or rejects hard
Does XMR tag 600 before next Sunday or does it fall back to 540 first
#BinanceSquare #WriteToEarn #Crypto #Bitcoin #PrivacyRally