According to a report, there are over a thousand cryptocurrencies currently in existence. The fact that the original Bitcoin made its code open-source meant that all subsequent Bitcoins could simply copy and adapt it as they pleased.
Because of the proliferation of cryptocurrency, not all cryptocurrencies get the same amount publicity. Some cryptocurrencies get very little publicity. Common ones include those that have the largest market capital or value, such as Bitcoin, Ethereum and Tether. Or those that are hyped up by the internet like Dogecoin.
There are also cryptocurrencies that generate little noise but make good returns for investors. Zcash, or ZEC, is one example of such digital assets. This digital asset looks a lot like Bitcoin, and it has lots of potential.
It is difficult to determine its potential. If you plan to invest in Zcash you will need to be able to do so.
We have used experts’ opinions and analysed the digital asset. We discuss Zcash’s future price and whether it is worth investing.
What’s Zcash?
Zcash isn’t a popular digital asset. You won’t find any news about its price unless you look for it. Before we can begin to predict its price, it is important to understand what Zcash is all about.
ZEC coin was first introduced in October 2016 as a digital currency. Its first mining occurred in October 2016. However, the development began in 2013. Matthew Green, a John Hopkins professor, led the effort along with some graduate students. The Zcash Company, headed by Zooko Wilcox and containing more than $3 million in venture capitalist funding, will finish the work.
Initial hype around the digital asset was high. A token was worth $5000 within a week of its initial mining. Zcash was created using Bitcoin codebase. It is therefore not surprising that it has many similarities to bitcoin. It also has a maximum supply limit of 21 million tokens.
Zcash’s unique selling point is however the anonymity of transactions. The creators claim that Zcash’s privacy is extraordinary. It also stores transaction data on a public Blockchain, but there are options for confidentiality.
Shielded transactions are an option that allows financial privacy. It also incorporates Zero-knowledgeproof, which allows transactions to be verified without knowing the amount sent, who the recipient is, and where the sender is. Transparent transactions are also possible, but this feature can be turned off. You can also have selective disclosure, where the user can choose which transaction details they want to make public or share.
In 2019, the Zcash Company changed its title to Electric Coin Company. This was done by claiming that Zerocoin Electric Coin Company had been its official name. ECC will be the new name.
The privacy features of Zcash are still being investigated, even though the creators claim they were not intended for illegal activities. Alt-Coin Traceability, a May 2020 paper, raises questions about whether Zcash is really as private as its creators claim. ECC recently announced that it would donate all company shares to the Bootstrap Project, a non-profit organization.
The creators claim that Zcash was built using rigorous science. You can choose to have the tokens go into the transparent or shielded pools. The majority of users don’t make use the privacy options on the network, according to observations. This is why it’s called a privacy coin.
There are two types of ZEC addresses: the T-addresses or the Z-addresses. T-addresses can be seen transparently, while Z-addresses can be seen only. Zcash’s privacy is not the only thing that makes it unique. It also has fast transactions and very low fees.
Zooko Wilcox was the man behind ZCash. He was also in close touch with Satoshi Nakamoto. He also wrote the first blog about Bitcoin, which was embedded into Bitcoin.org. He says that the time has come for the project’s transition from the proof-of-stake consensus.
Zcash Market Status
Zcash trades at $145.33 and has a 24-hour trading volume $297,163,463. ZEC’s price has increased by 3.52% over the past 24 hours.
ZEC also has a current supply of $12.432,512.50. Binance, OKEx and Huobi Global are the top ZEC digital asset trading platforms. Let’s now move on to the ZEC technical analysis for 2021.
Zcash Prediction 2021
Below is a chart that shows ZEC’s performance over the last few days. The ZEC price also shows a bullish trend. ZEC could follow the bulls and surpass its $187 resistance level to move higher to $266 if this trend continues.
If investors start to turn against crypto, bears could take control and pull ZEC from its uptrend place. A bearish signal is a decrease in ZEC’s price to $84.17.
Our long-term ZEC price prediction 2021 remains bullish. It is highly likely to reach new heights. But, it will not be able to break many psychological barriers that have been in place.
Zcash Prediction 2022
ZEC will hit $350 by 2022 if this bullish trend continues. The first half of 2022 will see rapid growth, with a potential for $400. This will then slow down but there are no major drops. The price of $350, with the upcoming partnership and other developments, is very optimistic, but it is undoubtedly possible for the near future.
Zcash Prediction 2023
ZEC will hold the support level at 200-MA, which is the long-term moving mean, so buyers will have plenty of time and stability to plan the next attack mission on vital level at $550. This will ensure that it does not plummet, but plays consistently.
Zcash Prediction 2024
ZEC investors can expect to see many partnerships and integrations in the next 2024, according to the most recent upgrades, developments, ZEC’s price prediction and project forecasts. This could increase the ZEC price in crypto markets, which will make it a good investment. The price can rise to around $800.
Zcash Prediction 2025
ZEC prices could rise to $950 in the next four-years. ZEC could reach this level easily as it could find additional short-term and long-term targets for prices to buy or sell orders. According to the prediction, ZEC is likely to reach a new ATH within the next five year.
Conclusion
ZEC looks to have a bright future in 2021. ZEC could reach new heights due to the constant developments within the ZEC ecosystem as well as the crypto market.
Our long-term ZEC price prediction for 2021 is bullish. The bullish ZEC is very likely to reach $266. But that is only if ZEC breaks past psychological resistance. If investors continue to support ZEC and other mainstream cryptocurrencies such as Bitcoin and Ethereum, it could even reach $300.
FAQ
What’s Zcash?
Zcash, a digital currency decentralized on the blockchain, offers anonymity and selective transparency for transactions. The Zcash payments are made on a public blockchain. However, sender, recipient and amount of transaction remain private.
Where to Buy ZEC Tokens.
Zcash’s native asset ZEC makes a great investment in 2021. ZEC tokens can be purchased on cryptocurrency exchanges like Binance, OKEx and CoinTiger.
Can ZEC reach $300 soon?
According to the bullish trend, ZEC could reach $300 within the next few months.
What is the ZCASH price for 2022?
ZCASH (ZEC), price expected to reach $350 in 2022
What is the ZCASH price in 2023?
ZCASH (ZEC), price expected to reach $550 in 2023
What is the ZCASH price in 2024?
ZCASH (ZEC), price expected to reach $800 in 2024
What is the ZCASH price in 2025?
ZCASH (ZEC), price expected to reach $950 in 2025
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