What is Zcash?
Zcash was born in 2016 with the intention of making crypto transactions private. It was forked from the Bitcoin code with some notable changes. Zcash gives users the ability to send shielded transactions, allowing for privacy. Before we talk about Zcash price prediction 2019, let’s talk a bit more about Zcash’s functionalities.
The hashing algorithm in Zcash is slightly different. Zcash uses Equihash. The difficulty adjustment algorithm is smoother, and Zcash has a transaction expiry feature. The block size limit is 2 MB.
Some ZEC characteristics are the same as BTC, like the 21 million cap on the number of coins that will come into existence.
There are a number of the best Zcash wallets available. Most Zcash wallets don’t have shielded capabilities. You can check the Zcash website, twitter or the ZEC Reddit page for Zcash news and updates.
The privacy features of Zcash are still largely unused, with the vast majority of transactions taking place between transparent wallet addresses. We have the guide on how to buy Zcash step by step if you are interested.
ZEC Current Stats
Right now (September 18th, 2019) one ZEC is currently worth $52.47 USD. That’s a 3.88% increase from 24 hours ago. Priced against Bitcoin, ZEC has risen almost 4.2%, up to 0.0051329 BTC.
The current Zcash price is up more than 100% from the all-time-low price of $26.15. The current price is still down more than 98% from the all-time-high, at a staggering $5941.80.
The past 24h have seen a big difference between the low and high price. And by Market Capitalization, Zcash is ranked #27 at $390,430,961 USD.
Considering the last 24 hours, Zcash has one of the highest liquidity in the crypto market with $329,613,177 USD worth of trade volume
Some ZEC blockchain stats are provided below.
Zcash Price Prediction for 2019
There are many different Zcash price predictions. Let’s look at a few.
Bullish predictors think the price will increase.
- CoinSwitch suggests that Zcash could rise to $319.53 by the end of 2019. CoinSwitch is also optimistic about the long term growth of ZEC. They predict that it could rise to $1242.69 in 5 years.
- CoinSwitch says that ZEC could break $500 before 2020.
- CoinPredictions thinks it will go down before bouncing back up. They predict a $97 ZEC before rebounding to $127 in October. At this point, it will continue rising to $176.36 in December.
- Long Forecast predicts a steady uptrend. It should finally reach $252 before the end of December
- Digital Coin Price suggests that ZEC will reach $145.23 in December.
- Matthew Beck, an analyst at an asset management company, predicts that Zcash could reach $60,000 by 2025. This was shortly after adding Zcash to their fund portfolio.
- Crypto ground predicts a relatively stable price, hovering around $103-$113 for the rest of the year, ending the year at around $113. They predict the price to be $1,350.0134 after five years.
Bearish predictions involve a drop in price.
Wallet Investor is no stranger to bearish price predictions. They think ZEC will take a rollercoaster ride in price for the remainder of the year.
They predict a hard crash in price in late July, falling to $27. It won’t regain the current price until mid-October. Towards the end of October, they expect a surge to $271.50. This will be followed by another crash in mid-November, falling once again to double-digit numbers.
At the end of the year, ZEC should be about $39, according to Wallet Investor.
Bitdec suggests that ZEC will drop to $24.56 this year.
Which Zcash Price Prediction 2019 is Correct?
As you can see, most of these predictions are optimistic about the ZEC price for 2019. Some forecasters are unsure. CoinFan gives a price range of $72.89-$142.70 for the rest of the year.
When making a prediction, you have to consider Zcash and the broader cryptocurrency market. Don’t forget that the bitcoin halvening isn’t too far away from the end of 2019, this period of time often sees a price run-up in the overall crypto market.
Zcash has a network upgrade (Overwinter) coming up and there is also a hardfork (Ycash) planned for July.
Keeping this in mind, the ZEC price could rise to $135.24-$184.28 towards the end of 2019, if the bulls take full control. If the market becomes negative, it could dip below $90.
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