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Price Analysis

Zcash (ZEC) Price Analysis: Will Zcash Get A Wonder Broom To Stay Afloat And Prove Its Worth?

  • Zcash’s image gets jeopardized with the recent claims of Deloitte’s crypto specialist
  • Zcash has been trusted by firms like JPMorgan in the past to launch their customize project using Zcash technology

The market of cryptocurrencies always sees every new entrant with concerns on its sustenance. The founders of ZEC understood the problem faced by Bitcoin ensuring complete privacy to the users in every transaction and made it the base to launch Zcash. Zcash is an open source decentralized cryptocurrency used for shielded transactions. In a very short span of time, ZEC coin has climbed up the coin ladder to reach the top 25 list however the questions concerning its long term sustenance always raise eyebrows and mixed reactions in the community. The current market trend is a reflection of the same.

Current Statistics:

Zcash Price Chart

ZEC Price Chart

  • Zcash is ranked at the 23rd position in the top 100 cryptocurrencies list globally
  • The ROI of the coin stands at -98.34%
  • The market cap is noted at 465,192,650 USD as on May 17, 2019, at 09:24:02 UTC
  • The price of Zcash coin stands at 71.03 USD & 0.00967311 BTC
  • The 24 h volume is now 1,123,836,896 USD
  • The circulating supply is same as the total supply and is noted at 6,548,994 ZEC

Comparison:

In the last 30 days as well as in the past week as well, the price of Zcash moved between the range of 81.94 USD and 55.58 USD. As on April 18, 2019, at 09:34:00 UTC, the price of Zcash was recorded at 71.46 USD & 0.01353646 BTC. The 24 h volume was 225,243,784 USD, and the market cap is 453,139,220 USD. There has been a downward trend of over -0.6% in the past month.

Zcash Price Prediction until 2020:

Zcash has reached as high as 5,941.80 USD in October 2016 and has fallen sharply over the past few years. The price of the coin has not crossed the 100 USD mark in 2019 and has maintained a rather sideways trend throughout. The team of Zcash crypto has to come up with some out of the box innovative solutions to entice investors and keep their interest alive. The price of the coin can be expected to reach up to 100 USD by the end of 2019 and up to 500 USD by the end of 2020.

Conclusion:

Although there are speculations regarding the sustenance of the Zcash coin, the overall market sentiment is still positive, and hence investment in Zcash is good for shorter durations.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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