This year has been a tough sail for Zcash since May 2022, when Terra/Luna implosion caused a cascade of bankruptcies, layoffs, and liquidations. Subsequently, the chain of the unfortunate market and geopolitical events like the Russian invasion of Ukraine, U.S. inflation, and 3AC and Celsius insolvency, has also contributed to the downward pressure on the price of ZEC.
With the recent massive downfall of the crypto market caused by FTX contagion, is it possible for Zcash to reclaim its all-time high in 2023? Continue with the article to learn about Zcash price analysis and prediction by Coinpaper.
Read also: Edward Snowden reveals he had contributed to the Zcash launch
What is Zcash?
Zcash (ZEC) is a privacy-focused cryptocurrency that uses advanced cryptographic techniques to enable users to transact privately. Zcash is built on the same blockchain technology as Bitcoin, but with added privacy and security features such as shielded addresses and zero-knowledge proofs. Transactions on the Zcash network are encrypted, making it difficult for third parties to view and trace the transactions.
Zcash (ZEC) price
Currently, Zcash Price is USD. ZEC has a circulating supply of coins and a total supply of . If you are looking to buy or sell Zcash, Binance is currently the most active exchange.
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Zcash price prediction 2023
The current market sentiment is full of fear, uncertainty, and doubt (commonly known by the acronym FUD), as fears of FTX contagion mount. At the moment, it’s difficult to assess exactly how much damage has FTX collapse has done to the crypto industry, since some affected crypto companies may be already secretly insolvent due to highly leveraged positions, as we have seen in the aftermath of Terra's implosion.
According to our estimates, it will take months for the full scale of FTX bankruptcy to become clear, so the turning point for the crypto market won’t come before late Q1 to early Q2 2023, although for now, it seems that the industry has absorbed most of the damage.
Another market factor that should be taken into consideration is how successful will be the U.S. Federal Reserve’s efforts to curb inflation. For now, there is reason to believe that Fed is making some progress in its attempts to cool the overheating economy — on November 30, Federal Reserve Chair Jerome Powell announced it’s time to slow the pace of coming rate hikes, which immediately triggered a positive reaction from both crypto and equity markets.
Given the above information, one can easily guess that there will be a considerable divergence between bullish and bearish Zcash 2023 price predictions due to multiple unknown factors. For this reason, we estimate that the bullish scenario will see Zcash price at $59 to $87. On the flip side, the unfavorable macro and ongoing FTX bankruptcy process may push the price of Zcash to $39-$26 lows.
Zcash price prediction 2024
In 2024, the global macroeconomic backdrop is likely to be more favorable to the crypto market, adding value to Zcash (ZEC) and other cryptos. However, the possibility of black swan events similar to the collapse of FTX cannot be completely ignored.
Keeping this in mind, we foresee the price of Zcash to climb as high as $105, with the more distant prospect of reaching $124 in 2024. The bearish scenario is likely to see Zcash (ZEC) trading between $83 and $54 in 2024.
Zcash price prediction 2025
Since it’s practically impossible to foresee what market factors will influence cryptocurrency prices in 2025, this part of our Zcash (ZEC) price analysis and prediction is based on pure speculation and observation of Zcash historical price movements.
Our Zcash 2025 price forecast expects ZEC to rally towards $147 and reach $178 by the end of the year. The bearish scenario would see Zcash at $85 to $64.
Zcash (ZEC) price prediction 2026
Looking ahead four years, to 2026, Coinpaper's price prediction for Zcash is decidedly bullish. In 2026, we expect Zcash to reach at least $224 before climbing higher to $316. In case of bearish scenario, Zcash may fall to $122.
Is Zcash (ZEC) a good investment?
Unlike its rival Monero (XMR), where every user is anonymous by default, Zcash has an optional privacy feature. There’s a serious doubt that Zcash transactions are 100% untraceable, since its private transactions truly private only if enough users choose shielded addresses, and the volume of public transactions has always been high. For that reason, if you want to have a portfolio exposure to privacy coin, Zcash may be not a suitable investment for you. A more trusted option in this case would be Monero, a leading privacy coin with focus on total anonymity.
Are you ready to invest in Zcash? Very few if any analysts forecast its value going down to zero, although you can’t be sure these days, so make sure you always do your own research before making investment decisions. And keep in mind that cryptocurrency prices can be extremely volatile, so trading crypto always involves a high degree of risk.
You can buy ZEC from many crypto exchanges, including Binance
Disclaimer: Coinpaper does not recommend that any cryptocurrency should be bought, sold, or held by you. Always conduct your own research and consult your financial advisor before investing in any digital asset.
Who created Zcash?
Zcash was founded by Zooko Wilcox, a Colorado-based computer security specialist and cypherpunk.
What was the all-time high for Zcash (ZEC) ?
The all-time high price of Zcash is $ on 2016-10-29