Price Analysis

Zcash (ZEC) Price Analysis: Anticipated Hard Fork Launch is the only Hope for Zcash’s Bullish Movement

Finmax

Zcash (ZEC) is an open source and decentralized cryptocurrency. It was created by Zooko Wilcox-O’Hearn in 2016. It is based on the Zerocoin protocol. This protocol gives complete anonymity and other privacy-related facilities to the users. On Zerocoin protocol, a feature called zk-SNARKs, helps the transactions to be fully transparent and anonymous. It maintains a secure ledger of balances, and it is not shared with any of the stakeholders. All the transaction data are encrypted on Metadata level.

Current Statistics- 

Zcash

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  • Zcash (ZEC) is ranked at 23rd in the global crypto market.
  • It has an ROI (Return on Investment) of negative 98.44 %.
  • The current coins in circulation stand at 6,370,044 ZEC.
  • The market cap as in 22nd April at 04:54 UTC is 427,825,001 USD.
  • The value of each coin in terms of USD and BTC stands at 67.16 USD and 0.01273297 BTC respectively.
  • The 24h volume at the same UTC stands at 211,741,526 USD.

Comparison-

Zcash (ZEC) started the year 2019 with the value of around 57 USD to 60 USD. The coin’s variations in the price have made the investors be careful of the coin. It has shown much inconsistency over that last 100 days. However, the highest growth was achieved after 1st April market boom. It gained around 33% in just 4 days. But that momentum was lost within a week. The price variation started soon. The market cap on 22nd March was 345,960,609 USD. And the value of each coin in terms of USD and BTC was 56.29 USD and 0.01399051 BTC respectively. The current market cap is 23.6% more than the market cap of the past month. And the value in USD has increased by 19.31% in the last 30 days.

Prediction-

We predict the coin to be inconsistent in its valuation during the next quarter as well. The value may increase for some time. The resistance should be there at 75 USD. But the biggest gain is anticipated by the end of 2019. There is news about launching a hard fork of Zcash by the name Overwinter. This network upgradation will help the coin to gain value further. So, we predict the coin to reach as high as 200 USD by the end of 2019. 2020 prediction is also bullish.

Conclusion-

Looking at the price variations, we advise the short term investors to stay out of the Zcash coin. Long term investors and medium-term investors will be absolutely rich with dividends when the price may become more than 3 times the current price.

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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