The opinion of respected crypto experts and technical-based analysis combined predict that the long-term forecast of ZCASH has the potential to reach anywhere up to $800 per token with potential price increases of over 190% between now and the year 2025. To avoid missing out on potential upcoming price surges in the cryptocurrency market, check out our easy-to-follow article on how to buy ZCASH.
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Following the widely publicized success of Bitcoin, many altcoins have appeared and enjoyed similar success based on what they can bring to the table. One of these is ZCASH, an altcoin that has seen significant returns on investment so significant, that many are keen for a ZCASH price prediction for the near future.
With a central selling point of increased privacy over Bitcoin, it has garnered a lot of attention and a popular following, particularly by crypto users requiring an open financial system with added privacy features. Whilst Bitcoin was a cryptocurrency pioneer, ZCash seeks to better its privacy flaws whilst maintaining the same overall structure with an added fungibility feature.
Naturally, this has thrown this innovative digital asset into the spotlight. But the price surge left many wondering if they had missed the boat on ZCASH and whether investing now was a good idea. I was one of those people until I began to use a range of factors to research the future price such as the following:
- Price history
- The latest legislation
- Prediction strategies
- Expert analysis
By analyzing all of these factors, I was able to find out that there’s never a bad time to invest in ZCASH, and I’m not alone. For example, statistics from the leading trading platform of eToro tell us that sales have skyrocketed in the past few months.
But what does the future hold for investors who get on board early enough? Will it rise once again? Our ZCASH price prediction aims to answer all. But first, let’s start with just what it is and how it works.
What is ZCASH?
When it comes to understanding just what ZCASH is, the best cryptocurrency to compare it to is Bitcoin. Just like BTC, ZEC is a digital currency with a decentralized blockchain that provides a level of anonymity for its users and their transactions. Both also have a fixed total supply of 21 million coins. But the biggest difference with Bitcoin is in the higher levels of privacy and fungibility that ZCASH provides.
On the topic of privacy, many users of Bitcoin in the early days mistakenly assumed that using BTC was completely anonymous. This was soon proven wrong when high-profile lawsuits against sites of the darknet led to many users being identified through their Bitcoin payments.
This privacy issue was seen as a significant flaw in Bitcoin and one that needed to be corrected. So in response to Internet users’ demands for an open financial system with added privacy features, ZCash was created in 2016 by Zooko Wilcox-O’Hearn.
By adopting Bitcoin’s open ledger system and encrypting information about the ledger’s users, ZCASH was created with the aim of correcting Bitcoin’s privacy flaw. Whilst all ZCash transactions are recorded on a blockchain, the transactions are encrypted and can only be viewed by users that have been given access to them.
Pros and cons of ZCASH
Like any cryptocurrency, ZCASH has its fair share of incredible pros and limiting cons. We always aim for transparency in our articles. So in this section, we’re going to cover some of the most important pros and cons of ZCASH.
|✔️ Like BTC, ZCASH has a limited supply which makes it a scarce asset.
|❌ ZCash is Limited to CPU Mining.
|✔️ It’s highly secure thanks to the zk-SNARK zero-knowledge proof technology it uses.
|✔️ It’s currently undervalued providing a chance for new investors to get in early.
Do you still have questions about ZCASH? Rest assured, before we get into the price prediction, next we’ll cover some frequently asked questions about ZECto give you a better understanding of the original digital asset and its price potential.
What’s the difference between Bitcoin and ZCASH?
Like Bitcoin, Zcash transaction data is posted to a public blockchain. Unlike Bitcoin, however, Zcash gives you the option of confidential transactions and financial privacy through shielded addresses. Zero-knowledge proofs allow transactions to be verified without revealing the sender, receiver, or transaction amount.
Who uses ZCASH?
ZCASH is used by people who wish to maintain the attractive anonymity aspect that Bitcoin originally held as a significant selling point. Now that ZCASH has been added to the Ethereum blockchain, it is far easier to buy and sell. Thus enhancing its userbase and its recently been added to major trading platforms like eToro and has gained partnerships with American Finance Giant JP Morgan.
How does ZCASH gain value?
Like most cryptocurrencies, the value of ZCASH is largely driven by speculation in its current state. As more people discover the wide range of its uses, its value grows. Due to its numerous advantages, support for ZCASH is only expected to grow as cryptocurrencies become a more widely accepted alternative to fiat currencies. When it does, the value will likely grow in sync.
Can ZCASH reach $1,000?
Due to its attractive privacy features, ZCASH has secured many loyal users in its short history. If it continues to do so, it would not be impossible for it to reach $1,000 one day, but this would be a long-term thing. For Zcash to reach $1,000, it will need to gain 615% over its current price. If the altcoin maintains a monthly growth of 10 percent from now on then $1,000 per coin is indeed possible.
Where do people buy, sell, and trade ZCASH?
You can buy, sell, and trade ZCASH from any reputable crypto trading platform. If you are a new investor, then we suggest using eToro. It’s safe, regulated, and beginner-friendly. The eToro interface is very simple to use, and it has an array of trading tools to allow you to trade safely.
ZCASH Price History
The launch of ZCASH in 2016 garnered a lot of attention on account of its innovative Zk-SNARK encryption technology. However, the launch price was unusually expensive for a new altcoin. As a result, the price of ZCASH jumped from $1,599.72 to $2,027.05, before significantly dropping to between $40-50 per coin.
By the beginning of 2018, the market cap from ZEC was 2.5 billion USD. As a result, the price per coin surged to almost $700. But the coin then went through a bearish phase and dropped to $60 per coin in December.
The outbreak of the pandemic hit ZCASH like many other cryptocurrencies and the price dropped to $40 per coin. However, ZCASH soon gained partnerships with significant investors such as the American Finance Giant JP Morgan and the price began to rise again and it slowly regained its position along with its price increase and market capitalization.
Today, the price of ZCASH is sitting price today is around $109 per coin with a market cap of $2,744,857,501, a trading volume of $519,893,123.68, and a circulating supply of 11,656,881 ZEC out of 21,000,000 coins.
Expert analysis of the ZCASH price potential
One of the best tools we can use to try and determine the potential future price of ZEC is to analyze the opinions of various crypto experts. Let’s delve into four estimated growth outlooks for various industry experts and analysts.
Coinpedia is overwhelmingly bullish on the ZCASH price prediction. Based on ZCASH continuing to build partnerships with influential organizations and persisting with being a unique model that retains a solid support base, they believe ZEC has the potential to reach between $600 and $800 per token by the year 2025.
WalletInvestor uses an algorithm-based forecast in an attempt to predict the future price of cryptocurrencies. When it comes to ZCASH, they are also bullish but not as much as Coinpedia. Over the long term, WalletInvestor predicts that the price of Polygon could reach somewhere around $563 per token by the end of 2025.
DigitalCoinPrice is fairly bullish on its ZCASH outlook and expects the price to gradually increase over the long term. DigitalCoinPrice predicts ZEC to rise to $165.17 by the end of 2021, $234.63 by the end of 2023, and finally reach a figure of $335.19 by 2025.
Rather bearish expert analysis on ZEC is LongForecast. They predict the price of ZCASH in 2021 to potentially reach up to $212 by the end of the year. But in the following three years, they expect the price to drop to $106 by the end of 2023 and eventually settle at $79 per coin by the year 2025.
So from over $165 in the short term to up to $800 in the long term, the overall expert analysis on the future price of ZEC is overwhelmingly bullish with some potentially lucrative returns in store for investors. But what does the technical analysis tell us about the price potential of this innovative digital asset?
Technical analysis of the ZCASH price potential
Now we move onto technical analysis to try and predict the future price of ZCASH. This section will utilize powerful tools like the Japanese candlestick, chart patterns, and trading indicators. As well as giving traders the upper hand in day trading, they can enable us to discover long-term price predictions based on pure technicals when we assess longer time frames.
ZCASH Price Prediction 2021 – 2022
Since the beginning of 2021, the price of Polygon skyrocketed by 69% from $64.68 to $109.29. It’s predicted that the Polygon price will rise an additional 62% in the second half of 2021 and it’s then expected to close the year at $177. A year-to-year change of +174%.
ZCASH Price Prediction 2022 – 2023
After starting the year at $177, it’s predicted that the price of ZCASH will rise to $230 per coin in the first half of 2022, it’s then expected to gain $26 and finish the year at $256, which is a +134% gain on the current price.
ZCASH Price Prediction 2023 – 2024
After starting 2023 at $256, ZCASH is expected to rise slightly to a figure of $273 midway through the year before going on the rise again and ending the year at $314 at an overall annual increase of 187% from the current price.
ZCASH Price Prediction 2024 – 2025
After starting 2024 at $314, Polygon is expected to rise to $354 halfway through the year. The second half of 2024 is expected to see the price of Polygon end the year at a slightly lower price than the first half of 2024 at $321. That’s an overall annual increase of 194% on the current price.
In conclusion, ZCASH has demonstrated itself as a desirable Bitcoin alternative for those who value the privacy feature of cryptocurrencies as one of its most desirable features. Technical and expert analysis both largely agree that, provided ZEC continues to operate as a unique digital currency, expand its range of investors, and maintain its support base, then the price of ZEC could potentially go up significantly.
Whilst many people can see the significant potential in ZCASH, there is a significant number of people who are wondering where to invest in this innovative investment for the long term. The answer lies in a reputable and well-established trading exchange with access to vital trading tools like eToro.
Where to buy ZCASH
ZCASH is available to buy and trade on eToro alongside 18 other cryptocurrencies. This is a well-established, highly regulated, and secure platform that has the potential to revolutionize your crypto trading.
What’s more, is that eToro allows you to access their incredible array of trading tools such as the Stop Loss, Take Profit, and built-in charting software that all let you maximize your potential profits whilst ensuring safe trading practices that protect your hard-earned funds. Also, eToro offers Leverage Trading on ZCASH. This allows you to multiply small amounts to become large powerful positions that drive massive profits.
Overall, the financial situation, risk tolerance, and investment strategy of each person vary. ZCASH is inherently volatile and the price can rise or drop at a moment’s notice, this brings advantages as it does risks. Both of which are important to understand and weigh against your own investment goals and needs. Only invest money you can afford to lose and balance out the risky nature of crypto investment by building a diversified portfolio.
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Disclaimer – This content is for informational purposes only and is not investment advice. The trading of ZCASH and other alternative cryptocurrencies has potential rewards, and it also has potential risks involved. Trading may not be suitable for all people. Anyone wishing to invest should seek his or her own independent financial or professional advice.