Zcash (ZEC) Price Analysis: Will Hard Fork Change Its Fortunes?
- Second largest privacy coin.
- Circulating supply is at 6,484,994 ZEC.
- Zcash’s rise in popularity can be attributed to consumer’s increasing interest in privacy features.
- Price of Zcash expected to rise heavily after the launch of Zcash hard fork.
Released in 2016, Zcash (ZEC) is a decentralized and open-sourced digital currency on the blockchain platform. The primary focus of the currency is to provide enhanced privacy features to its users and change the way transaction is undertaken in the global financial markets.
As on May 8, 2019, at 11:34:01 UTC, the market price of ZEC is 57.71 USD. Price is down by 4.79% from the last close. Currently, the market cap is around 374,683,846 USD, 24 h volume is at 289,159,865 USD, and ROI is at negative 98.65%. The coin’s current rank is twenty-five in the crypto market. 52 Week High/Low is 386.40 USD/45.85 USD. As on April 8, 2019, at 11:34:02 UTC, the price was 74.42 USD. Over the past month, there was a downward price trend to the tune of 22.45%. Though the price of the coin has not been much impressive over the past few months, still it has been moving towards a slow recovery since last month.
Zcash’s Future Price Prediction:
Zcash is one of the few digital currencies to find favor with investors and traders alike due to its great investment potential. Though the price of Zcash has not been attractive; still it has shown signs of recovery since the past few days. Zcash’s key collaborations and strong privacy oriented features will aid in strengthening its position in the market in the near future. The eagerly anticipated launch of Zcash hard fork is going to be a real turning point for the coin. Due to this, the price is expected to be pushed higher and begun the bull run.
According to analysts’ ZEC Price Forecast, the currency might be trading around $200 by 2019 year-end. The launch of Zcash hard fork is expected to work wonders for the coin. They expect the long-term trend to be fully bullish. Investors can cash in on this opportunity and buy for the long term.