2023.09.08 2023.09.08
Zcash Predictions: Should You Invest in ZECJana Kanehttps://www.litefinance.org/blog/authors/jana-kane/
Despite regulation restrictions, the popularity of cryptocurrencies has been growing over the years. We all have heard about Bitcoin, Ethereum, and Litecoin. Still, there are other digital assets that can provide investors with exciting opportunities. ZEC is one of them.
Zcash is considered a promising token with a high level of anonymity. It’s the first open-source digital asset based on a blockchain. The coin appeared on October 28, 2016 and currently has a market cap of $238.5 million dollars. The total possible Zcash supply is 21 million coins.
Although Zcash is based on the Bitcoin framework, their cost varies significantly. BTC has broken above $69,000, while ZEC is still slightly over $25.
The article covers the following subjects:
Zcash zec price prediction is not an easy thing. In this guide, we will consider not only historical price movements but analysts’ Zcash price predictions based on the market sentiment. To make your future investing more successful, we will highlight factors that affect the coin’s market price, so you will be able to make your own Zcash ZEC price prediction. Will the price of Zcash go up? Let’s find out!
Zcash: What Is Inside?
Before we consider Zcash price predictions, let’s answer one simple question – what is Zcash? Zcash or ZEC is a cryptocurrency built on a decentralized blockchain that includes open-source code. That is its main similarity with Bitcoin. Another thing Zcash shares with BTC is the total market capitalization. Both cryptocurrencies have a limited offer of 21 million units. However, ZEC, as a privacy coin, takes further steps to protect its users. The system was developed to provide users and their transactions with anonymity. ZEC increases privacy by applying zero-knowledge proofs (zk-SNARKs). It allows users to validate transactions without disclosure of information that could affect the user’s privacy. At the same time, the ZEC coin has an exciting feature. It allows users to share address and transaction information they can select to comply with audits and regulations. According to its developers, ZEC is built on strong science.
Let’s talk more about ZEC addresses. They are divided into two types:
Z-addresses are private, while t-addresses are considered transparent. There are four transaction types between these kinds of addresses. Two address types are interconnected. You can transfer funds between both address types. The only requirement is to be aware of the privacy implications.
The key advantages of Zcash are low-rate transactions, the anonymity of users and transactions, disclosure of payment data to a third party, transaction expiration, and multiple signatures for transactions.
The main factor that contributed to the development of cryptocurrency is privacy. ZEC submits a high degree of it and can be called a “leading privacy” coin. Yet, this cryptocurrency hasn’t reached the highs of BTC. What is Zcash ZEC price prediction? We’ll address that next.
The Price History of ZEC
The development of Zcash dates back to the creation of ZeroCash cryptographic protocol, which was supposed to become a supplement of well-known Bitcoin. As the developers of Zerocash couldn’t agree with Bitcoin founders, a new cryptocurrency, Zcash, was formed.
Zcash is the first truly anonymous cryptocurrency. This allowed its price to rise to $6,000 at launch. However, later, it declined significantly. Over the years of existence of the ZEC coin, its price has ranged from a few dollars to several hundred dollars.
Zcash market is also highly dependent on news related to the entire crypto ecosystem. For example, blockchain updates or new collaboration agreements can cause price spikes. After the addition of privacy technology to the blockchain platform, according to the JPMorgan agreement, the coin’s value increased. Also, the Zcash cost was significantly affected by the halving (artificial reduction in the speed of mining of new coins), which took place in 2020.
Since the beginning of 2021, the Zcash maximum price value has been growing. It peaked at $369.31 amid Dogecoin news. However, later, the rate fell due to the ban on cryptocurrencies in China. A new uptrend began after the management of Zcash announced plans for the development of the token, including the transition to proof-of-stake.
Zcash Price Target for 2023: expert opinion
Zcash price strongly depends not only on the news but also on many other factors. For example, the use of cryptocurrencies in various fields or decisions of regulatory authorities. Therefore, it is quite difficult to predict the coin’s value. Below are a few price prediction forecasts that will help you understand the coin’s future price movements.
Several sources shared their ZEC price prediction 2023:
1. WalletInvestor
According to WalletInvestor, investing in Zcash is not a good idea. Portal analysts believe that the Zcash rate will continue to fall. By the end of 2023, the average price will reach $23.54, and the maximum price will not rise above $43.
2. DigitalCoin
DigitalCoin experts, on the contrary, predict the growth of ZEC. According to technical indicators, the coin’s rate will rise. The projected average price is $63.63.
3. CryptoGround
CryptoGround experts provided a more restrained Zcash ZEC price prediction. They estimate the ZEC value at approximately $33.19 by the end of 2023.
4. Coin Data Flow
Coin Data Flow analysts believe that in December 2023, the ZEC coin will maintain its value at $30.
5. Crypto Predictions
According to the latest data gathered by Crypto Predictions, the average price of Zcash by December 2023 will be $24. The coin will reach a maximum of $30. The minimum price will not fall below $20.40.
Zcash Technical Analysis
The future ZEC price forecast can be predicted based on many factors. Let’s start by looking at the Relative Strength Index (RSI). At the end of the summer of 2023, it was at 41.82. The price of the coin at that time was $29.91. This is below both the 50-day moving average ($30.17) and the 200-day moving average ($34.92). The level of the Fear & Greed Index is 23.44, which indicates fear among investors.
These parameters indicate a long-term bearish trend. Perhaps it is worth waiting for signals for a reversal. However, if you have the opportunity to take risks, you can consider purchases in the short term.
Weekly Elliott wave ZCash analysis as of 04.09.2023
The ZECUSD market is forming a bearish trend as a double zigzag W-X-Y within the motive wave (Y). After the ascending linking wave X finished, the market has been forming the bearish wave Y as a standard zigzag [A]-[B]-[C]. Impulse [A] and correction [B] have completed, and the bearish impulse [C] should be developing this week. Let us study the most recent chart section in more detail in the H4 timeframe.
The descending [C] wave is currently unfolding as an impulse (1)-(2)-(3)-(4)-(5). Correction (4) is forming as a double zigzag W-X-Y. The first two sub-waves, W and X, have finished, and the price is forming the final motive wave Y as a double zigzag [W]-[X]-[Y], as outlined in the chart. The market should be going down in the linking wave [X] to a level of around 22.90, where wave [X] will be 76.4% of the motive wave [W].
Weekly ZECUSD trading plan:
Sell 24.64, TP 22.90
ZECUSD Elliott wave analysis is presented by an independent analyst, Roman Onegin.
Zcash price prediction for next three months
I will continue the ZEC technical analysis in the weekly timeframe to outline the most realistic price projections for the next three months.
At the end of summer 2023, the ZEC market is in a long-term bearish trend. The MACD indicator can provide a signal of expected growth. Since this popular indicator is lagging, don’t expect clear signs of a reversal at the moment.
However, if, soon, the MACD curve crosses the slower signal line from the bottom up, a bullish trend signal will appear. In this case, the target will be the level of 42 USD. The price will reach it by the middle of winter. You should also pay attention to the relative strength index index. In the chart above, it is at the level of 35.81.
In the future, everything will depend on Zcash’s bullish potential. If it turns out to be enough for the price to overcome the resistance level of 33.22 (orange line), then ZEC will head towards 47.34. Otherwise, there will be a rebound with a further approach of the price to the trend line. Then, expect a support level around $22. If the price overcomes it down, then the market situation cannot be changed, which will become a sell signal.
Long-term ZEC/USD technical analysis for 2023-2024
Let’s see if it’s worth investing in Zcash in the coming years. Based on the price history, Bollinger Bands, and moving averages, let’s try to make a Zcash price prediction for 2023-2024.
The chart shows that the ZEC/USD bearish trend has continued since the end of 2022. At the moment, there are no bullish signals that would indicate an imminent growth. Zcash stands inside the corridor and is unlikely to leave it in the near future. The RSI level is at 40.62.
MACD and similar oscillators on the monthly time frame look rather weak and do not yet show significant signals for a ZEC trend reversal. Thus, don’t expect any major moves before the end of 2024.
This situation is also the result of the situation concerning DevFunds and the planned transition of the project from proof of work algorithm to proof of stake (POS).
The table below shows projected ZEC’s maximum and minimum price for the next 12 months.
Month
ZEC/USD price
Minimum value
Maximum value
August, 2023
23,87
26,45
September, 2023
23,47
28,95
October, 2023
27,87
31,68
November, 2023
30,12
31,78
December, 2023
26,10
32,94
January, 2024
25,53
30,61
February, 2024
27,59
33,02
March, 2024
29,65
35,42
April, 2024
31,71
37,82
May, 2024
33,77
40,23
June, 2024
35,83
42,63
July, 2024
37,88
45,03
Long-term trading plan for ZEC/USD
I suggest the following ZEC/USD trading plan, based on the most realistic outlook:
I have already mentioned that the ZEC trend reversal will be confirmed when news of a potential split is released, or the MACD gives a buy signal.
In this case, it is worth evaluating the chances of a continuation of the lazy price decline. According to Zcash price prediction by some experts, by the end of the year, the price will fall to $22, which will become the low. At this moment, if no signals appear and the investor is ready for the risk, it is worth opening a long-term purchase. Thus, place a take-profit at $40 and move higher if the price breaks this level and rises to $62. But do not neglect the rules of risk management, so try not to risk more than 1% of the deposit amount.
If you do not want to take risks, then it is worth considering investing in ZEC in 2024. Next year, there may be signals that will allow you to determine the behavior of the cryptocurrency.
Get access to a demo account on an easy-to-use Forex platform without registration
Go to Demo Account
Zcash Price Target in 2025
ZEC’s price today is 25.34 USD.
Several sources shared their long-term ZEC price prediction 2025.
1. WalletInvestor
According to the website’s analysts’ investment advice, the price of Zcash will be $22 or less.
2. DigitalCoin
According to DigitalCoin’s own research, the price of Zcash will start to rise in 2024 and reach $83.25 by early 2025.
3. CryptoGround
CryptoGround offers a more optimistic Zcash price prediction. ZEC’s average trading price will be $134.
4. Coin Data Flow
According to Coin Data Flow’s own research, a ZEC uptrend will begin after a long-term sideways trend in 2024. In December 2024, there will be a price rise to $41.31. By the end of 2025, the target price of Zcash will be $113.04.
5. Crypto Predictions
Portal’s analysts provided a skeptical Zcash price prediction. In 2025, the price will reach a maximum of $45. According to technical indicators a sideways trend around $30 will start before the end of 2024.
Zcash: Should You Buy or Sell in 2026?
Zec price prediction 2026 is below:
1. WalletInvestor
WalletInvestor analysts do not provide an accurate Zcash price prediction for 2026. The price may drop to a minimum level of $3.75.
2. DigitalCoin
In 2025, the ZEC minimum price will reach $72.93 and continue to rise to $95.18 in 2026.
3. CryptoGround
According to CryptoGround’s own research Zcash’s price in 2026 will reach the maximum level of $202.13.
4. Coin Data Flow
According to Coin Data Flow Zcash price prediction, the ZEC rate in 2026 will be higher than in 2025. Zcash’s average price in January will be $128.96, and the maximum level will be $181.41.
5. Crypto Predictions
ZEC will start the year at $53.27. In November 2026, ZEC’s maximum price will be $58.57. By the end of the year, a decline to $48.67 is expected.
Zcash Price Prediction for 2027-2030
Although many analysts make long-term ZEC predictions, you should know they are approximate. As ZEC is one of the most highly volatile crypto assets, it’s a very difficult task to predict its price with a high degree of accuracy.
1. WalletInvestor
The website’s analysts did not provide a forecast for 2027-2030. Perhaps the price of ZEC will be in the range of $22 to $30.
2. DigitalCoin
According to DigitalCoin’s own research, Zcash will rise in price. By 2025, the coin will reach $83.01. By the end of 2026 – beginning of 2027, the ZEC rate will be $109.87 and $128.40 in 2028. Experts suggest the price of ZEC will reach a maximum of $182.55 in 2029 and $251.94 in 2030.
3. CryptoGround
CryptoGround predicts the coin’s price at $134.41 in 2025 and around $202.13 in 2026. By 2027, the price should reach $333.02 and $595.75 in 2028. Zec price prediction 2029-2030 is not provided.
To not be fooled, we recommend applying fundamental and technical analysis and reviewing your projections frequently.
Long-term Zcash forecast for 2030-2050
Is Zcash a good investment in the long term? Since the crypto industry is quite young and highly dependent on the actions of governments trying to regulate the market, the number of such forecasts is extremely small.
Analysts’ opinions regarding the ZEC rate in the next 20-30 years differ greatly. The Zcash price forecast is constantly changing due to the latest news. In 2024, a potential BTC halving could indirectly affect the ZEC price. It is difficult to predict how high Zcash will grow, but many believe that the potential of the coin is quite large. According to various sources, the coin can rise up to $2000.
Zcash Price Prediction for next 10 years
According to most optimistic forecasts, the bearish trend will end, and ZEC will reach a maximum of 300-400 USD. Analysts at DigitalCoin also share this opinion. According to a more pessimistic forecast, the coin will fall to 3 USD by 2029.
Zcash Price Prediction for 2030s
By 2030, the range of 300-400 USD, according to most analysts, does not seem realistic for Zcash. The crypto market is still quite young, and Zcash is a promising coin. However, rising mining prices scare most investors. Many expect even greater decentralization of the coin, which may force a certain percentage of owners to sell off some of the assets.
Zcash Price Prediction for 2040s
It is very difficult to predict the price of cryptocurrencies for such a long period. The legal status of tokens is rather shaky, and no one guarantees their complete delisting. However, if ZEC rises by 2030, expect further growth in the future. Carefully monitor the news as they determine the token’s fate to a greater extent.
Zcash Price Prediction for 2050s
There are opinions that Zcash can outperform Bitcoin due to its transaction anonymity, as it will become a decisive factor in future. I advise investors to carefully monitor the news regarding the aforementioned coins.
Conclusion
Despite mixed Zcash ZEC price predictions, investing in this token is still a good decision. Although this token is dependent on Bitcoin, which makes it difficult to predict its rate, the coin still acts as the leading cryptocurrency in terms of privacy. This means that Zcash is unlikely to cease to exist.
The need to move securitization of the token outside the US is now being actively discussed. The decision on this issue can greatly affect the coin’s rate. Looking at the short-term analysis, you may notice that there are signals for a possible buy. However, if you are a beginner trader, you should postpone trading this coin until 2024.
There are a huge number of ZEC rate predictions on the Internet. However, you should not completely rely on them. We recommend using the LiteFinance demo account, which provides real market conditions and the ability to trade without loss. If you have not tried trading on a demo account before entering the real market, there is a risk of losing your investment despite analysts’ recommendations.
Price chart of ZECUSD in real time mode
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.
Rate this article:
( {{count}} {{title}} )