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Zcash is a decentralized and open-source cryptocurrency that offers transparency and privacy of the transactions. It aims to provide anonymity for the users and transactions. The Platform intends to offer privacy at high standards.
Do you know? Zcash offers two types of addresses namely transparent and shielded.
This article is meant to provide detailed Zcash price prediction for 2021 and beyond. You will have a clear picture at the end of whether the ZEC Price rises or crashes.
Now, let us try to have some basic information on Zcash.
Table of contents
|Market cap||$ 2,240,280,849.0000|
|Circulating Supply||$ 10,978,098.4475|
|Trading Volume||$ 754,320,569.0000|
|All time high||$ 3,191.9300 October 29, 2016|
|All time low||$ 19.7500 March 13, 2020|
What is Zcash?
Zcash is a cryptocurrency that strive to use cryptography for the enhancement of 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 makes the visible public data on the blockchain and shielded are those which does not reveal the data.
Zooko Wilcox-O’Hearn is the founder of Zcash.
Zcash Technical Analysis
Zcash made an entity in the crypto market with an all time high of $5941.80 on 29 October 2016 according to Coinmarketcap. 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.
On a bearish note, ZEC entered the year 2017 with a price of $49.54. Significantly, the coin sank to $26.39 by February due to the massive selling pressure and later recovered to hit $408.31 by the mid June. Later, the currency consolidated between $165.18 and $362.36 till the end of November. Effectively, ZEC escalated to $676.69 in the mid December and further declined to $520.67 at the end of December 2018.
Zcash opened the year 2018 with a trading value of $597.60. Efficiently, the price hit $741.03 as a part of increased demand for the currency and drastically slid to $347.54 by early February and recovered to $477.92 within several days. Zcash again started a downward trend by declining to $180.24 in April. As the bears were rallying to pull the price down, ZEC closed the year 2018 at a low price of $62.59.
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 be 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.
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 and surprisingly plunged to $25.22 by mid-March as the crash of the crypto market due to 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.
Zcash Price Prediction 2021
Zcash commenced the year 2021 with an exchange value of $57.95. Further, the price started to rise as part of Bitcoin’s price rally. ZEC is anticipated to escalate further if any of the altcoins rallies hit new highs. It might concentrate on attaining the minds of investors as well the users. It might also focus on improving its platform to offer seamless services. At the end of 2021, Zcash might be exchanged at $350.
Zcash Price Prediction 2022
ZEC might start the year 2022 with a trading value of $355. The coin might likely rise with certain inbound developments and enhanced trade facilities. It might facilitate the need of the users and the investors. By the end of 2022, Zcash might be traded at a high price of $490.
5 Years ZEC Price Prediction
In the next 5 years, Zcash might compete with the most popular currency Bitcoin as it is based on its codebase and offers more reliability than BTC. Zcash might accrete more number of investors as it aims to render anonymity. It could be listed among the top 30 currencies.
It might focus on certain partnerships to strengthen its blockchain infrastructure. By the end of 5 years, the highest ZEC value is anticipated to be $1800.
Zcash Market Prediction
According to CoinArbitrage, Zcash price could be $446.877 at the end of 2021 and in the next three years, the highest level ZEC price could hit $3197.99 and the lowest price would be $91.0833.
According to WalletInvestor, ZEC is an acceptable long term investment and its price could be $408.026 at the end of 2021 and would hit $1536.350 by the end of 2025.
According to DigitalCoinPrice, ZEC would trade at an average price of $151.54 at the end of 2021 and expected to hit $354.96 USD by the end of 2025.
Our ZEC Price Prediction
With an effect of a bearish trend, Zcash preceded the year 2021 at a trading value of $57.95. Later the price dramatically surged to a high of $170.96. The altcoin might be considered to be the most needed currency as it intends to offer high security and privacy. By the end of 2021, ZEC Price might hit as high as $380.
Yes, Zcash is the mineable cryptocurrency.
Zcash is a unique currency as it offers two types of transactions such as transparent and shielded. Also the coin started its journey with an All-time-High.
Zcash uses the algorithm called Equihash.
Due to low supply and the slow start of mining rewards, Zcash was expensive.
Zcash can be traded at the popular exchanges like Binance, HitBTC, OKEx, Huobi Global and many more.