Price Analysis

Zcash Price Analysis: Inflating ZCash’s market continues under the bulls favor

Zcash cryptocurrency is known for its notable improvisation in privacy features compared to its counter cryptocurrencies. It was developed based on the Zerocoin protocol and used a technology called Zero-Knowledge cryptography. However, Zcash developed and improved the protocol and reference implementation and the technology used to protect the privacy of the transactions on the Zcash platform. It offers its users an optional privacy feature that allows them to conceal the important data and details of the transaction. It primarily focuses on protecting the details about the sender, recipient and the transaction amount using shielding. ZCash is denoted by ZEC and has a total fixed supply that is equivalent to 21 million bitcoins.

Current Statistics

ZcashAccording to evaluation from Coinmarketcap, ZCASH is currently being traded at 72.85 USD for the market cap value of USD 457,830,216. Based on this report, ZCash is ranked the 22nd largest cryptocurrency in the crypto market. This is also dependent on the circulating supply of 6,284,494 ZEC coins and the 24h volume of $264,130,084. Coin market cap has estimated the approximate return on investment for this cryptocurrency to be -98.31%. The negative percentile indicates the deterioration in values from the time of investment.

Market Analysis

Zcash has been a volatile cryptocurrency with frequent variation in values. A note-worthy rise in values occurred between March 18 and 20, with the MCAP value and the trading price rising from USD 331,439,911, 54.15 USD to USD 373,722,907 and 60.92 USD. A growth of 12.76% and 12.50% respectively was observed within a span of 02 days. However, a dramatic surge in values occurred at the beginning of April. The Mcap value rose from USD 365,240,603 on April 01 at 02:34 UTC to USD 476,877,460 on April 04 at 02:34 UTC. The market rose by 30.57%. The current value continues to remain on the uptrend.

ZEC’s Future Predictions

Zcash’s price predictions can be made based on interesting partnerships in the past years. The most notable one is with the financial giant JPMorgan Chase. Crypto Enthusiasts predict the price of this cryptocurrency to boost in the upcoming years. They estimate the price to increase by 319.527 USD by 2020, followed by an increase to 867.613 USD in 2022 and furthermore to 1242.69 by 2024. Analysis by other crypto forecaster expects the coins will be purchased at 380 USD per coin at the end of 2019 and 760 USD by 2020.

Conclusion

Zcash is volatile which is exhibited with the difference in price values. However, the current market can be used to an advantage by the traders. Once their short term contributions turn out beneficial, the value of the cryptocurrency would increase proportionally.

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Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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