To sum up this zCash price prediction, the technical and expert analysis predicts a bright future with this privacy-focused coin having the ability to surge over $1,000 per coin between now and 2030.
Breaking News About zCash
Table of Contents
- Breaking News About zCash
- Where Did zCash Come From?
- So, How Does zCash Fix Bitcoin’s Privacy Flaws?
- Price History of zCash Token
- zCash Technical Analysis
- zCash Price Prediction 2022 – 2023
- zCash Price Predictions for 2023 – 2024
- zCash Price Prediction 2024 – 2025
- zCash Price Predictions 2025 – 2030
- Expert Commentary on the zCash Price Forecast
- Crypto Millionaire
- Token Metrics on the Journey of the zCash Price Today
- Epic Saheed
- Where to Buy zCash Coins?
- Pros And Cons
- How Private Is ZCash?
- Does ZCash Use Proof of Work?
- Who Created ZCash?
- What Is the ZCash Coin Symbol?
- Is ZCash Illegal?
- Do Criminals Use zCash?
- Social Media Urge to Use Monero, Zcash to Avoid India’s Crypto Tax
- Zcash (ZEC) Rises 2.03%, Outperforms the Crypto Market Tuesday
In the early days of Bitcoin, it was widely assumed to be a completely anonymous way to send payments. But this myth was busted when illicit transactions on the dark web were traced back to those who had made them during widely publicized lawsuits.
In response to the outcry and increasing demand for private cryptocurrency transactions, zCash came along. Since it was founded in 2016, it has grown astronomically in usage, userbase, and, most importantly, price.
As zCash surges into the future, many are increasingly curious about how high it can go, which has led to increasing demand for an accurate zCash price prediction.
It’s the latter which we will provide today. From technical analysis to historical price data, we dive deep into an exclusive zCash price prediction to see what’s in store for the future.
Where Did zCash Come From?
To explain how zCash works, it’s helpful to compare it to Bitcoin and the early days of digital currency when things weren’t as straightforward as they are now.
Back then, many cryptocurrency users who were still finding their feet in the new digital currency world wrongly assumed that Bitcoin offered complete anonymity when making transactions with it.
However, this was proven wrong during a U.S. Government campaign against a series of illicit sites running on what is now known as The Dark Web.
On the Dark Web, users could buy anything from drugs to illegal firearms and were using BTC as a preferred payment method.
Naturally, this damaged the reputation of Bitcoin in the early days as many media outlets claimed it was nothing more than a tool for criminals.
In the wake of the campaign, dark web users found themselves arrested by the authorities after their Bitcoin transactions were traced back to their identities and physical addresses.
This highlighted severe privacy flaws in Bitcoin and led to a demand for a new digital currency that offered the same privacy that many assumed came with Bitcoin. So, in 2016, came zCash to cater to this demand.
So, How Does zCash Fix Bitcoin’s Privacy Flaws?
zCash was to fix the privacy flaws of Bitcoin. Zooko Wilcox-O’Hearn founded it. An American computer security specialist, he based it on Bitcoin’s open ledger system. In addition, sensitive information about zCash users was highly encrypted.
Naturally, all transactions made via zCash are recorded on the blockchain. But the encrypted nature that Zooko Wilcox-O’Hearn added to his user’s info means their identity is protected.
To further protect the identity of the people using ZCash, the network uses zero-knowledge proofs (zk-SNARKs) that work to validate transactions without revealing any compromising personal details.
As a bonus, it has also got to work on fixing other flaws associated with Bitcoin and other world-leading cryptocurrencies, such as slow transaction speeds and high speeds.
zCash has made it its mission to improve both of these while maintaining a confidential trading environment for its users. It has attracted many avid enthusiasts over the years as a result.
Now we’ve explained what zCash is and how it works, let’s get into the good stuff: What is the future looking like?
Price History of zCash Token
Historical data about a cryptocurrency’s price history is an excellent basis for an accurate price forecast, and zCash is no exception.
The price history of this privacy-focused altcoin is a serious thrill ride and tells us that it has potential as a long-term investment. Just take its performance in 2021, for example.
zCash started January 2021 for $104 before dipping to a low value of $79 at the end of the month. Things weren’t looking good.
But for the traders who rolled with the punches synonymous with trading, some great rewards were incoming.
The middle of February saw the price of zCash (ZEC) skyrocket from %79 to $180. A drop in value followed as people who invested at the start of the year sold off their position to take profits.
The subsequent price dip caused a surge of more investors seeking to capitalise on the price performance of the zCash privacy coin. It was a wide choice indeed.
In May, the price of zCash had surged to a high of $318. This caused an even more significant sell-off than before, and the value then plummeted to a price similar to previous lows when it hit $89 in July.
The process of new investors buying the dip repeated itself, causing the price to rise to $172 in September, causing a positive outlook amongst investors.
In November, the zCash price rose to $276 before dipping towards the end of 2021. But is this price dip yet another chance to get on board in preparation for an incoming price surge? Let’s look at what technical analysis can tell us.
zCash Technical Analysis
zCash technical analysis consists of reading trading patterns, charts, and other technical insights that can allow us to get an in-depth view of what the future can hold for a particular cryptocurrency and whether it has the potential to be a profitable investment. Let’s look at what it can show us about zCash’s average price future between now and 2030.
zCash Price Prediction 2022 – 2023
Like the beginning of 2021, the average price of zCash has seen a price dip at the start of this year. This is not unique as several cryptocurrencies are currently in a slump, even Ethereum and Bitcoin.
But by the middle of the year, technical insight of this zCash prediction tells us that the future price could rise to $174 before rising higher by the end of the year and finishing at $252, an 83% increase from the current price and profitable investment for those who buy at the right time.
zCash Price Predictions for 2023 – 2024
Possibly starting 2023 at over $250, technical insights show us that it could have the potential to dip slightly to $242 before rising again and finishing the year at $261. Overall, a relatively slow year for zCash. But will the following year be a wilder ride?
zCash Price Prediction 2024 – 2025
Between 2024 and 2025, technical analysis points towards a possible bullish trend in store for zCash. It’s predicted that the price could rise by $6 to a new price of $267 by the middle of 2024.
Then, in the second half of the year, it could finish 2024 at $307. Based on the current price of zCash today, that’s a price increase of around 123%.
zCash Price Predictions 2025 – 2030
Over the long term, technical analysis tells us that zCash might move slightly slower between 2025 and 2030. It’s predicted that it could settle somewhere between $300 and $400 per coin between now and then.
Expert Commentary on the zCash Price Forecast
The privacy-focused issues surrounding Bitcoin garnered much attention in the global community of well-established crypto experts. So naturally, zCash has focused on many of their insightful price predictions. Let’s delve into some of the most popular price forecasts.
Crypto Millionaire has amassed a large following on Youtube due to its price predictions on various digital assets. Many of them have been incredibly insightful and even accurate.
In a recent zCash price prediction, they compiled a panel of international crypto analysts to develop an insightful forecast on this coin’s market price.
In summary, they came up with an incredibly bullish opinion that zCash could surge past $10,000 per coin between now and 2030.
Token Metrics on the Journey of the zCash Price Today
Token Metrics is a cryptocurrency expert who does what it says on the tin. They recently released an informative zCash prediction that assessed the potential zCash had to be a potential investment based on the zCash price today.
Overall, Tokem Metrics came up with an analysis that expected it to hit a zCash price equal to at least $300 per coin between now and 2030.
Another bullish zCash (ZEC) price prediction came from the popular Youtuber Epic Shaheed. Between now and 2030, they predicted that zCash could hit a price over $1,500.
From a reserved outlook of a future price of $300 to extremely bearish opinions of an average price of $10,000, the expert opinions agree that zCash coin price could have a potentially bright future ahead and could rise significantly from its current price.
In conclusion, zCash provides a serious real-world usage as a fix to the privacy flaws of Bitcoin. In addition, it offers users lower fees and higher speeds when making transactions, and superior privacy.
Since it was born in the wake of the dark web lawsuits surrounding the BTC transactions used for illicit purposes, zCash has become a formidable crypto asset loved by countless users and investors worldwide.
In addition, zCash has pledged to become a more energy-efficient cryptocurrency in the future. This could give it an even bigger upper hand over Bitcoin, which uses excessive energy in its mining process.
Overall, both technical analysis and expert insights agree that it has a possibly bright future ahead with the ability to reach a minimum average price of at least $1,000 per coin at the bare minimum.
But where do people invest in this privacy-focused altcoin?
Where to Buy zCash Coins?
Naturally, such a digital currency powerhouse like zCash has found itself listed on major cryptocurrency exchanges for experienced investors to buy. But where does that leave newcomers to crypto trading?
Thankfully, there is an excellent beginner-friendly option where beginners can find their feet in the world of trading CFDs and crypto in a safe, secure, and informative environment. It’s through a brokerage like eToro.
As well as the chance to buy and sell zCash, this is a well-established brokerage that not only offers zCash but also provides new investors access to a wide range of other crypto coins on the cryptocurrency market from Ethereum to Dogecoin.
eToro is one of the most widely used brokerages by crypto newcomers and offers a wide range of trading tools from stop-loss limits and taking profit orders.
In addition, eToro boasts a popular social trading feature that allows you to follow the trades of leading investors based on their last performance on the markets.
Pros And Cons
It’s no secret that zCash has brought a range of incredible privacy features to those that are fortunate enough to be able to use and invest in it.
But as with anything, there are potential downsides too. We like to keep our readers as informed as possible, so let’s look at some of the pros and cons of zCash.
- It aims to become an energy-efficient digital currency in the future, which might give it an advantage over the high energy-consuming Bitcoin and increase its market cap and the ZEC price.
- Capped at 21 million coins gives it an attractive bonus of being a scarce asset just like Bitcoin.
- It uses a range of cutting-edge decentralised technology to secure its users’ privacy and anonymity.
- When it comes to mining zCash, the opportunities for making a significant return on investment are not as high as other currencies like BTC and ETH.
Any cryptocurrency that takes the altcoin world by storm as zCash has done will naturally summon a lot of valid questions from people considering investing in it. So to round off our zCash (ZEC) price prediction, let’s answer some of the most frequently asked questions.
How Private Is ZCash?
With privacy as its main selling point, ZCash places a high priority on ensuring anonymity in its transaction. Whether it’s the sender, the receiver, or the number of funds sent, all ZCash transactions are shielded by high-end encryption that ensures total privacy.
Does ZCash Use Proof of Work?
To secure its network, zCash uses proof of work. With this chosen algorithm, zCash miners use processing power to create new blocks on the zCash blockchain. This can be an energy-consuming process, but zCash has made it a mission to become more energy-efficient in the future.
Who Created ZCash?
zCash was founded by an American computer security expert called Zooko Wilcox-O’Hearn. As well as being the brains behind the ZEC network, he is also CEO of the Electric Coin Company (ECC), which is responsible for the development of ZCash.
What Is the ZCash Coin Symbol?
On the global cryptocurrency markets, zCash goes by the coin symbol of ZEC. This stands for the Zerocoin Electric Coin Company.
Is ZCash Illegal?
Many people are curious about the legality of zCash due to the anonymity it offers during transactions. The truth is, zCash is entirely legal and has been successfully listed on the world’s most trusted exchanges and brokerages like eToro.
Do Criminals Use zCash?
Due to the privacy benefits offered by zCash, some mainstream media outlets who are critical of cryptocurrency as a whole have accused it of being used by criminals. Back in the early days, Bitcoin was accused of being the same.
However, there is no evidence that zCash is used by criminals. While not beyond the realms of possibility, most ZEC coin users likely just appreciate their privacy when making transactions.