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Price Analysis

Zcash (ZEC) Price Analysis: ZEC Poised for a Bull Run

Zcash (ZEC) has been outshining for a few months. It has shown a notable upward trend in its price graph since January this year. The crypto had its All-Time-High price in October 2016 at a whopping $5,941.80, which is pretty high than many other cryptocurrencies. Although, Zcash price was affected in the year of 2018 due to bearish market.

Later, in December 2018, an announcement from Coinbase that declared support for ZEC had created stirs in Zcash market. The announcement from the largest crypto exchange in the US resulted in high expectation from Zcash.

Current Zcash Price Statistics:

Zcash price chart

At 05:12:51 UTC, Zcash Price was at $72.70, while having Market Capitalization of $480,283,610. Zcash currently holds 6,606,344 ZEC in its total supply. In the last 30 days, Zcash price has surged as high as 18.14%, as its price has increased to $73.04 from $61.82 in the past one month.

Comparison:

In the chart, we can see how the price of ZEC has witnessed many surges since January 2019. Initially, in this year, the price was at $59.28, which then bottomed to $47.01 on 6th February. To the investors’ relief, the price has shown a notable rebound after that. Since then, On 19th May, it had its highest peak of $78.26.

Moreover, a price spike is highlighted on 23rd February. This one seems to be due to another announcement from Coinbase that revealed that it has featured ZEC on one of its section named ‘Coinbase Earn.’

ZEC Price Prediction and Conclusion:

In the short term, ZEC is likely to experience a remarkable Bull run causing it to reach $80 mark within a few weeks. While in the long term, it will probably hit $100 mark till the end of this year, with a slow but steady pace. Looking at Zcash’ history, it seems an extremely promising cryptocurrency.

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Ruti Vora

Ruti has recently joined CryptonewsZ as a writer and has been writing on other cryptocurrency sites as well. Having a background of tech field makes her versatile with a keen interest in literature. You will find her surrounded by books and music when she is not on work. You can also contact her on Linkedin or Facebook.
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