Cryptocurrency Price Prediction

Zcash Price Prediction: Will ZEC Price Hit $1K By The End Of 2022?

Written by: Elena R

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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Apr 28, 2022

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Zcash is a decentralized and open-source cryptocurrency that offers transparency and privacy of transactions. It aims to provide anonymity for the users and transactions. The Platform intends to offer privacy at high standards.

Zcash initiated the trade well, yet, woefully the bears overtook the market. However, in the present scenario, the price is showcasing a sense of recovery and hence one can think of investing some portion in it.

Yet, many fear looking at the Zcash price chart since inception, therefore want to know how will the asset perform in the coming days or years. Are you one among them?

Then this piece of writing is for you. This article is meant to provide detailed Zcash price prediction for 2022 and beyond. You will have a clear picture at the end of whether the ZEC Price rises or crashes.

Overview

CryptocurrencyZcash
TokenZEC
Price$ 52.5000
Market cap$ 667,321,932.0000
Circulating Supply 12,601,216.0383
Trading Volume $ 88,957,927.0000
All time high$ 3,191.9300 Oct 29, 2016
All time low$ 19.7500 Mar 13, 2020

Zcash (ZEC) Price Prediction For 2022

Potential LowAverage PricePotential High
$297.5$367.9$438.4

Zcash had commenced the year 2022 on a bearish note, amidst massive sell-off pressures. Initiating its trade with a price tag of $146.5, the digital asset broke out of its support at $152.4. Which led to the coin’s fall to $128.7, by the 5th of January. Zcash had managed to climb up to $145.8, by the 14th of January. But sell-offs in the business owing to the market crash led to the price finding support at $87

As the price of ZEC escalated back to $133.1, by February 9th. FUD resulting from the geopolitical tussle between Russia and Ukraine. And anxiety around FED’s rate hike dragged the price down to $97.4, by the 25th of February. Thereafter a steady ascend assisted Zcash to claim its multi-month high of $208.2, by the 28th of March. Following this, sell-offs by traders made way to the quarter’s trade closure at $175.5

Zcash’s (ZEC) Price Prediction For Q2

 Ranging in the downtrend, the trade for the second quarter was begun at $171.8. The altcoin has presently found support at $151. If Zcash manages to call in the volumes, the digital asset would climb up to $173.7. Chugging past which, the price might hit a maximum of $212.4, by the end of the quarter. 

On the flip side, depleting volumes and lack of zeal will suppress the price to $135.1. Considering the bullish and bearish targets, the average price could settle at $186.3.

ZEC’s Forecast For Q3

If the makers of the protocol publicly announce major partnerships and adoptions. The network could welcome newer users and investors. As a result of which, the price of ZEC could propel to its quarterly high of $295.5. That said, an equilibrium in buying and selling pressures will land the price at $248.1. Conversely, if the bears outrun the bulls, then the price of ZEC could crumble down to $212.4

Zcash Prediction For Q4

 The inherent traits of the network such as privacy, faster processing times, and low fees could drive in more users. This could possibly turntables for the protocol. Moreover, the release of Zcash spans until the start of the fourth quarter. Holds the potential to push the price action of ZEC, wherefore, ZEC might surge as high as $438.4. That said, the altcoin would have to jump over the mid-way hurdles at $340.1.

On the contrary, negative criticism and massive liquidations can clutch the price down to $297.5. Successively, constrained by the linear price projections. The regular price of ZEC could possibly land at $367.9 by the end of the year.

 ZEC’s Price Forecast For 2023

Trending in tandem with the bulls, there are hopes that the Zcash price might take a massive upswing in 2023. Seeking impetus from its growing user base and developmental initiatives, the price of ZEC might propel to a maximum of $798.2

In contrast, emerging rivals and the diminishing foothold of the network might curb the price to its potential low of $419.6. Consequently, a lack of catalyzing factors might land the price at $601.5.

Price Prediction For The Next Five Years

In the next 5 years, if circumstances fall in its favour, Zcash might compete with the most popular currency Bitcoin. As it is based on its codebase and offers more reliability than BTC. The altcoin might accredit more investors as it aims to render anonymity. It could get listed among the top 30 currencies. And might also focus on certain partnerships to strengthen its blockchain infrastructure. 

Successively, by the end of the 5 years, the highest ZEC value is anticipated to be at $1470.5. In contrast, negative sentiments and prolonged bearish trends could slash the price down to $829.2.

YearPotential LowPotential High
2023$419.6$798.2
Next Five Years$829.2$1470.5

What Does The Market Say?

Wallet Investor:

  According to the forecast of Wallet Investor, ZEC’s price might hit its potential high of $437.305. The analysis foresees the possibility of the altcoin rising as high as $536.033 by the end of 2023. And rising to a maximum of $1026.100 by the end of 2025.

Gov.Capital:

Gov. capital has revised its prediction for Zcash, the firm now pins a bearish outlook for the altcoin. It now expects ZEC’s price to reach a maximum of $44.57, by the year-end. The analysts from the firm have pinned the minimum and average year-end targets at $32.946 and $38.761. Gov. capital anticipates the price to surge to a maximum of $130.561 by the end of 2025. 

Digital Coin Price:

 As per the revised forecast of the website, ZEC’s price could claim a maximum of $207.38, by the year’s end. The firm believes a reversal in trend could drag the price down to $185.57. And that regular trade pressures could curb the price at $195.79. The firm anticipates ZEC to hit a maximum of $240.40 by the end of 2023. And a maximum of $323.76 by the end of 2025.

Click here to read our price prediction of Loopring’s (LRC)!

What is Zcash (ZEC)?

  Zcash is a cryptocurrency that strived to use cryptography for the enhancement of the privacy of its users and is based on Bitcoin’s codebase. It aims to provide two types of transactions i.e. transparent and shielded. Transparent transactions are those which make the visible public data on the blockchain. Whilst shielded are those which do not reveal the data. 

Besides, Zcash transactions can be broadcasted through a public blockchain. Unlike other cryptocurrency projects, ZEC transactions absolutely in no way disclose the information on sent and received addresses. However, this enables the ecosystem to facilitate its trader’s right to privacy. Whilst still enjoying the benefits of permissionless and decentralized digital currency. 

Fundamental Analysis

Zcash was launched in 2016 by a cypherpunk, Zooko Wilcox-O’Hearn. He has accumulated great knowledge of computer security before commencing with the launch. Further, he launched a for-profit Electronic Coin Company (ECC) to ensure faster development of Zcash.

He had accumulated great knowledge of cryptography and data security for more than 25 years. With his knowledge, he assisted on numerous projects, including DigiCash, a now-defunct electronic money firm. And Mojo Nation, a peer-to-peer data storing software. In addition, he introduced a tech firm called Least Authority Enterprises to ensure maximum digital security. And to safeguard the fundamental right to anonymity.

The platform has successfully launched an Overwinter to ensure the execution of proper transparent transactions. And an additional feature of transaction expiry in June 2018. In December 2019, the Zcash platform introduced the Blossom upgrade that would reduce block times in half to around 75 seconds. 

Further, the ecosystem had rolled out two important upgrades. Whilst in April 2020, it launched a Heartwood to ensure secure interoperability via Flyclient support. And facilitate miners the choice to quickly shield mining commissions in Coinbase transactions. In November, it released a Canopy.

Our Zcash Price Prediction

  Zcash might establish its prominence in the industry with its inherent traits and fundamental strengths. According to Coinpedia’s formulated ZEC’s price prediction. If the network launches upgrades in order to boost security, privacy, and other features to benefit the traders. The price may easily surpass the $420 mark by the end of 2022.

If the network fails to execute its plan, then the price can flip into a bearish trap and dip below $300. Considering everyday buy and sell pressure and keeping the above factors in mind. The average price by the end of 2022 would be around $350.

Historic Market Sentiments

2016

  Zcash made an entity in the crypto market with an all-time high of $5941.80 on 29th October 2016. Surprisingly, the currency declined to $929.08 within a few days, and further, the price continued to drop. As the Zcash lost its trade balance, the coin dramatically plunged to $48.90 by December to close the year 2016.

2017

  On a  bearish note, ZEC entered the year 2017 with a price of $49.54. The coin sank significantly to $26.39 by February due to massive selling pressures. And later recovered to hit $408.31 by mid-June. Later, the currency consolidated between $165.18 and $362.36 till the end of November. ZEC’s price escalated to $676.69 in mid-December and further declined to $520.67 by the end of the year.

2018

  Zcash opened the year 2018 with a trading value of $597.60. The price hit $741.03 as a part of increased demand for the currency but drastically slid to $347.54 by early February. And managed to recover to $477.92 within several days. Zcash had started a downtrend and declined to $180.24 in April. As the bears were rallying to pull the price down, ZEC closed the year at a low price of $62.59.

2019

Zcash started the year 2019 at a lower value of $56.35. Later with certain price inequalities, ZEC hit $113.29 by the end of June. The digital currency failed to remain stable and the price continued to drop. The coin arrived at a low value of $27.96 by December to end the year’s trade.

2020

The year 2020 began on a bearish note with a low cost of $27.65. Later with several price indifferences, the price dramatically surged to $70.85 by early February. But plunged to $25.22 by mid-March following the rise of Covid-19. ZEC continued to recover after hitting $94.39 in August. Further with price variations, Zcash dropped to $63.48 by December to conclude the year 2020.

2021

  The Zcash (ZEC) price has made a rapid move during the bull cycle of early 2021. The asset commenced the year with a steady rally starting from $59.6 in January to reaching $310 by May 5th. Just within a span of four to five months the asset has managed to claim more than 500% gains. However, the Chinese market crisis did hurt the ZEC price action, where the project has lost more than $250 plummeting to $95 by the end of July. 

The second half was quite bland for the altcoin, where the asset failed to reach the expected target. The price has managed to rise up to $250 in November. However, bearish dominance in December plummeted the price back to the $150 range.

To read our price forecast of Enjin Coin (ENJ) click here!

FAQ

Q: Can Zcash be mined?

A: Yes, Zcash is a mineable cryptocurrency.

Q: What makes Zcash a unique currency?

A: Zcash is a unique currency as it offers two types of transactions, which are transparent and shielded. 

Q: Which is the algorithm used by Zcash?

A: Zcash uses the algorithm called Equihash.

Q: Why was the Zcash expensive at the time of launch?

A: Due to low supply and the slow start of mining rewards, Zcash was expensive.

Q: Where to trade Zcash?

A: Zcash can be traded across popular exchanges like Binance, HitBTC, OKEx, and Huobi Global, amongst others.

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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