Zcash (ZEC) Price Prediction: Zcash has Given Perfect Buying Spot; Resistance at 75 USD

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Zcash (ZEC) was created by Zooko Wilcox-O’Hearn in 2016. It is based on the Zerocoin protocol. It is one of the leading open source and decentralized cryptocurrencies in the global crypto market. The Zerocoin protocol’s vital feature is zk-SNARKs. This feature facilitates anonymous and privet transactions to users. Zcash (ZEC) claims of maintaining a secure ledger of balances without any interference by the users or any centralized authority. The Zerocoin protocol encrypts the users’ data on Metadata level giving complete security of the transactions.

Current Statistics-

Zcash

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  • Zcash (ZEC) is ranked at 23rd in the crypto market with respect to its market cap.
  • It has a negative ROI (Return on Investment) of 98.44 %.
  • The coins in current circulation are 6,383,506 ZEC.
  • The market cap on 24th April at 02:09 UTC is 426,664,222 USD.
  • The value of each coin in terms of USD and BTC stands at 66.84 USD and 0.01205232 BTC respectively.
  • The 24 h volume at the same UTC is 263,991,505 USD.

Comparison-

Zcash (ZEC) started the year with a moderate level of price. However, it soon started facing many variations in the value. The lowest point was achieved on February 6th at 46 USD. The market cap on 24th March was 356,597,903 USD. The value of each coin was 57.88 USD. The market cap and the value in USD have increased by almost 15 % in the last 30 days.

Prediction-

As mentioned earlier, Zcash (ZEC) has gained the most of its value after the 1st April market boom of cryptocurrencies. It gained almost 25 % in just 4 days. Prior to this growth, the coin was experiencing stable growth from the start of 2019. But the continuity in the growth has surprised many investors. The coin is currently being traded at 70 USD, and it is likely to rise further with resistance at 75 USD in the coming two weeks. But the real hope is the anticipated launch of Zcash Hard Fork in the last quarter of 2019. This may push the price of each coin to 200 USD level by the starting of 2020. So we predict the medium term as well as the long term outlook to be absolutely bullish.

Conclusion-

We advise the short term investors to lock in buying positions as the coin is likely to grow in the recent future. Medium term and long term holders are advised to hold their investment till the launch of the hard fork; it may give them thrice the value they are currently holding.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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