Zcash Price Prediction 2022-2031: Big Pump Ahead for ZEC?

Zcash Price Prediction 2022-2031

The proliferation of cryptocurrencies means they all don’t get the same publicity. There are even those that get no publicity at all. The common ones are usually those with the highest value or market caps, like Bitcoin, Ethereum, Tether, XRP, Litecoin, etc., or the ones that the internet has hyped, such as Dogecoin. This Zcash Price Prediction will shine a light through the crypto winter tunnel.

The latest feather in Zcash cap is the addition to Bitcoin of America’s  Bitcoin ATMs across the United States. The company, which operates over 2,500 Bitcoin teller machines in the country, revealed this in an announcement last Wednesday.

The Bitcoin ATM firm noted that its customer demand had pushed it to add Zcash to the list of available cryptocurrencies.  The use of ZEC in transactions has apparently picked up, with the privacy coin now joining Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BTC). Zcash, a decentralized cryptocurrency, is favored by users for its privacy features.

Zcash Network Upgrade 5 (NU5) was activated on the mainnet on 31 May. It is the most important milestone for Zcash since the cryptocurrency launched in 2016 — and as Electric Coin Co. ( ECC ) CEO Zooko Wilcox put it, “a historic step forward for human society.”

NU5, the first major upgrade since November 2020, includes the launch of the Orchard shielded payment protocol, utilizing the Halo proving system to remove reliance on complex setup ceremonies. The efficiencies built into this upgrade make private, trustless digital cash payments on mobile phones possible for the first time ever. Halo also paves the way for increased interoperability by providing a system that could unlock private cross-chain proofs at scale.

Determining its potential is not easy, and if you are planning to invest in Zcash, that’s something you will want to know. For one, ZEC’s big pump has been predicted. Fortunately, we have examined the digital asset using experts’ opinions and analysis. Here, we discuss the future prices of Zcash and if it is worth investing in.

Today’s Zcash price is $54.48 with a 24-hour trading volume of $58,315,220. Zcash is down 0.59% in the last 24 hours. The current CoinMarketCap ranking is #55, with a live market cap of $840,966,772. It has a circulating supply of 15,436,969 ZEC coins and a max. supply of 21,000,000 ZEC coins.

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What is Zcash?

Zcash is not your popular digital asset, and unless you are looking for it, you are unlikely to come across a piece of news about its price. That is why it is necessary to explain what it is all about before examining its price prediction.

ZEC coin was introduced as a digital currency with its first mining in October 2016. But development started as far back as 2013. It was led by Matthew Green, the John Hopkins professor, and some graduate students. Later on, the Zcash Company, led by Zooko Wilcox, will complete the work with over $3 million raised from venture capitalists.

The initial hype surrounding the digital asset was very high. Within a week of its first mining, a token was already worth $5000. Zcash was developed using the Bitcoin codebase, so it is not surprising that it is similar to bitcoin in many ways. For example, it has a maximum supply of 21 million tokens too.

However, what Zcash uses as a unique selling point is the anonymity of transactions. According to the creators, the privacy of transactions on Zcash is exceptional. While it also posts transaction data on a public blockchain, there is an option for confidentiality.

This option comes in the form of a shielded transaction that makes it possible to have financial privacy. It integrates Zero-knowledge proof, a feature that makes it possible to verify transactions without knowing how much is sent, the recipient, or the sender. This feature is an optional one as transparent transactions are also very possible. It is also possible to have selective disclosure where users can determine which transaction details they wish to make public or share.

The Zcash Company changed its name to Electric Coin Company in 2019. It did this, claiming its official name has always been Zerocoin Electric Coin Company, which is now known as ECC.

Although the creators have said the privacy features of the currency are not designed for illegal activities, the privacy features continue to be investigated. In a paper titled Alt-Coin Traceability, released in May 2020, it remains questionable whether Zcash is as private as it claims to be. Recently, ECC announced plans to donate all the company shares to a non-profit organization known as the Bootstrap Project.

According to the creators, Zcash is built on rigorous science. The tokens fall into either the shielded pool or transparent pool. Observations show that most users do not use the privacy options available on the network. It is why it is regarded as a privacy coin.

ZEC addresses are of two types – the T-addresses and the Z-addresses. The T-addresses are transparent, while the Z-addresses are private. Beyond the privacy of Zcash, another significant feature is its fast transactions that attract very low fees.

The man behind ZCash, Zooko Wilcox, was also in close contact with Satoshi Nakamoto and who also wrote the first blog on Bitcoin that was embedded into the Bitcoin.org website. He claims that it is time for the project to move from the Proof of Stake consensus.

Factors influencing Zcash Price

Volatility is a dominant feature of digital assets. However, this volatility doesn’t just happen; it is motivated by certain variables. Identifying and observing these variables will help in predicting the prices.

The factors could be external or internal. For Zcash, here are the factors motivating its prices

Nothing affects any market like demand and supply. The effect is visible for a digital asset like Zcash with a limited supply. These two factors work hand in hand to determine the worth of Zcash.

However, demand and supply are influenced by other factors. Thus, it can be seen as an overarching factor. It is important to study and pay attention to demand and supply, especially when you are investing.

When more people are looking to buy than sell, the price will increase and vice versa. Ironically, the higher the price, the more interested people are in buying, and the more people want to hold.

• Investor confidence and social buzz

The public or media attention on a crypto asset usually affects its price. An easy way of seeing this is with Dogecoin, which increased in value solely on the back of internet mentions and tweets. 

The logical explanation is that the more people talk about it, the more they are interested. Cryptocurrencies have thrived on social buzz, which spikes investors’ interest and confidence.

Zcash’s entry into the market represents a textbook example of this. The expectations and excitement were incredibly high. In the end, it influenced the price massively.

Halving is a phenomenon that applies to cryptocurrencies that are mined. It means that the reward for mining would be slashed by half every four years to control inflation and the total units in circulation.

The first halving for Zcash happened in November 2020. Generally, halving increases price as the supply will decrease with Bitcoin on multiple occasions.

Zcash’s first halving also experienced something similar as the price increased from $61.50 to $76.39 between November 9 and 23.

• Technological improvements

Another factor that influences the price is the updates of the underlying technology for the cryptocurrency. It has been observed that even the mere announcement of future updates could drive the price up.

Closely related to social buzz is adoption. One factor that has continued to increase the price of Bitcoin is its adoption. The price increases as more investors, especially institutional ones, get involved.

An increase in demand also increases the confidence that many investors will get from such adoption. Those who are not already invested too will want to get involved to avoid missing out.

Zcash Price History

When Zcash was first launched in 2016, it garnered attention which worked in its favor. Within the first few weeks, it reached an incredibly high price of around $6000. But this didn’t last long. It fell drastically to stabilize at between $40 and $70. The price of Zcash has always fluctuated; for instance, it was worth about $900 in 2018.

ZEC historical performance by coinmarketcap

To understand a cryptocurrency’s price history, one needs to know the factors that influence the increase in value. Generally, the excitement of its launch and similarities with Bitcoin must have helped it achieve an incredibly high value during its launch.

After that, the token would have a quiet year till May 2017. The developers partnered with JP Morgan to introduce Zcash privacy technology to the JP Morgan blockchain platform this year. The partnership led to a spike in price, with Zcash trading for about $400 by June of that year. Its market value also increased and entered the top ten cryptocurrencies through market capitalization. The price later returned to its regular value of below a hundred.

In 2018, the price increased again thanks to the crypto boom that started in late 2017. The price increased to about $900, but this didn’t last long. With the end of the crypto boom also came a fall in the currency’s value. In June 2018, it rose above $100 again.

It took until February 2020 for the price to increase again, thanks to the efforts of crypto bulls. By August, it has again managed to cross the $100 mark. It will later drop in value but maintain stability at a level above its previous lows. 

Throughout this period, the ZEC protocol has improved tremendously. However, the first halving in 2020 significantly affects the price, just like it does with other cryptocurrencies.

After exponential 2021, the worth of Zcash crashed in the past 12 months. The coin presently trades at $54, despite having topped $300 in November 2021. Zcash has fallen by 18% within the final 7 days. The declines are throughout the board in crypto. The decline of Zcash means that privateness cash nonetheless has the potential to rise again.

Zcash Technical Analysis

Zcash price analysis for October 8, 2022, reveals the market following a complete positive movement, obtaining significant positive momentum, signifying a gain of positivity for the ZEC market. The price of Zcash has remained positive over the past few hours. On October 7, 2022, the price rose from $55.68 to $54.19. Furthermore, the market increased in value soon after and gained more value. Moreover, Zcash has peaked and reached $54.94, just shying away from the $55 mark.

Zcash price analysis reveals the market’s volatility following a decreasing movement, which means that the price of Zcash is becoming more prone to experience variable change on either extreme. The Bollinger’s band’s upper limit is $58.34, serving as ZEC’s strongest resistance point. Conversely, the lower limit of Bollinger’s band is $53.14, which is the strongest support point for ZEC.

The ZEC/USD price appears to be moving under the price of the Moving Average, signifying a bearish movement. The market’s trend seems to have shown bearish dynamics in the last few days. Furthermore, the market has decided on a positive approach. As a result, the trend has shifted today, the price started moving upward, and the market started opening its volatility. This change has played a crucial role in the development of Zcash. However, the price attempts to move towards the resistance of the market.

Zcash price analysis shows the Relative Strength Index (RSI) to be 44, signifying a stable cryptocurrency. This means that the cryptocurrency falls in the central-neutral region. Furthermore, the RSI path seems to have shifted to an upward movement. The linear RSI score also means dominant buying activities.

Zcash price analysis reveals that cryptocurrency follows an upward trend with much room for activity on the positive extreme. Moreover, the market’s current condition appears to be following a positive approach, as it shows the potential to move to either bullish extreme. The market shows much potential for development towards the increasing end of the market.

Zcash Price Predictions by Cryptopolitan

Zcash Price Prediction 2022

Zcash price prediction for 2022 ranges from a maximum price of $65.01 to a minimum price of $60.54, with an average trading price of $62.75.

Zcash Price Prediction 2023

Zcash price prediction for 2023 ranges from a maximum price of $105.28 to a minimum of $86.9, with an average forecast price of $89.41.

Zcash Price Prediction 2024

Zcash price prediction for 2024 ranges from a maximum value of $149.93 to a minimum value of $127.98, with an average trading value of $132.45.

Zcash Price Prediction 2025

Zcash price forecast for 2025 ranges from a maximum of $223.19 to a minimum of $178.49, with an average value of $185.11.

Zcash Price Prediction 2026

Zcash price prediction for 2026 ranges from a maximum of $311.87 to a minimum of $253.86, with an average price of $261.26.

Zcash Price Prediction 2027

Zcash price prediction for 2027 ranges from a maximum of $429.84 to a minimum of $369.14, with an average of $379.59.

Zcash Price Prediction 2028

ZEC price prediction for 2028 ranges from a maximum of $637.26 to a minimum of $527.17, with an average of $546.15.

Zcash Price Prediction 2029

Zcash prediction for 2029 ranges from the highest price of $939.26 to a minimum future price of $811.17, with an average of $833.01.

Zcash Price Prediction 2030

Zcash price prediction for 2030 ranges from a maximum of $1,431.55 to a minimum of $1,165.44, with Zcash’s average price at $1,198.76.

Zcash Price Prediction 2031

Zcash price prediction for 2031 ranges from a maximum ZEC price of $2,026.64 to a minimum of $1,710.8, with an average of $1,758.75.

Zcash Price Predictions by Wallet Investor

According to WalletInvestor’s Zcash price predictions for 2022, the cryptocurrency will take off in October and surpass $100. The forecaster forecasts a price projection of $165.53 over the next five years.

Zcash Price Predictions by Digital Coin Price

According to DigitalCoinPrice’s Zcash forecast, the $200 price level may be exceeded by the end of 2027, with an average price of $138.64 in 2025, $226.89 in 2028, and a rise to $331.96 in 2030.

Zcash Price Predictions by Trading Beasts

By December 2020, the price of Zcash will be trading in the USD 50–68 area, having fluctuated just slightly throughout Q4 2020. Due to halving, $50 is the lowest potential exchange rate for Zcash for the foreseeable future; nevertheless, this rate may increase from USD 130 in 2022 to USD 145 in 2024.

Zcash Price Prediction by Industry Experts

Barry Silbert