Home Money Zcash Price Prognosis for the Next 5 Years

Zcash Price Prognosis for the Next 5 Years

by Louise W. Rice

Cryptocurrencies are versatile digital assets that provide incredible advantages to their users. Thanks to Bitcoin, you can send money online nearly instantly, without paying heavy remittance fees or waiting entire weeks for your money to arrive.

However, the original cryptocurrency has a set of drawbacks. Many believe that Bitcoin transactions are anonymous, but this is not the case. Hackers can easily trace back your transactions to your identity and compromise the security of your funds.

For this reason, cryptocurrencies like Zcash have become very popular. These privacy-focused coins provide full anonymity for your transactions. In this article, we will analyze the Zcash coin, its blockchain, and its technology. We also analyze some of its price actions to provide you with an honest Zcash price prediction for the short, medium, and long term.

Anonymity Is One of the Main Zcash Features

Zcash was created to solve one of the shortcomings of Bitcoin — privacy. The Bitcoin ledger is entirely transparent, and everyone can see transactions on the network. And while your BTC address isn’t directly linked to your identity, it doesn’t take long for anyone to make the connection using your IP address.

Remaining anonymous when transacting on the blockchain has multiple advantages. It allows you to hide your holdings and avoid drawing the attention of criminals to your person. Moreover, companies would want to keep their dealings secret and not have them out there for everyone to see.

Consequently, Zcash developers forked the Bitcoin code in order to provide a blockchain that would allow the obfuscation of one’s transaction data. The blockchain uses zero-knowledge protocols to hide the senders’ and receivers’ addresses, as well as the amount transferred. This feature has made Zcash a popular cryptocurrency to exchange crypto online.

Similar to BTC, the ZEC crypto has a limited supply of 21 million coins and is mineable using the Equihash algorithm. As such, it’s very popular with GPU miners.

How Much Is Zcash Worth in the Near Future?

Before we provide you with a price prediction for Zcash, let’s have a look at its historical price action first. Shortly after its release in 2017, the coin traded between $25 and $50, at least until the 2018 bull market. During this period, ZEC reached an all-time high of $880 per coin.

The subsequent bear market crashed the price and brought it as low as $25. This low point was reached during the COVID19 crisis. That said, the price has been in an uptrend since. ZEC reached $320 in July 2021 and is currently trading at around $150, a decent price considering its status only a couple of years ago.

This positive performance from Zcash has given analysts a strong bullish opinion about this cryptocurrency. As governments are establishing hard KYC measures for cryptocurrency trading, people are turning more and more towards privacy coins like ZEC.

Consequently, experts from around the internet provide us with the following forecasts:

  • Priceprediction.net expects ZEC to reach $247.39 by the end of 2022. Their long-term targets are even more bullish, with a price of $814.04 for 2025 and $5,379.13 for 2030.
  • Digitalcoinprice is a lot more conservative, however. Their short-term prediction is similar, with a price of $224.26 by the end of 2022. For 2025, they predict ZEC to reach $350.11, and they have a target of $771.97 for 2030.
  • Walletinvestor lines up with this opinion and targets ZEC at around $198 for 2022. In the next five years, they expect it to reach $435.

All in all, the consensus is that ZEC will provide some very good growth opportunities in the coming months and years.

What Else to Know About Zcash?

Zcash provides its users with an invaluable feature, which is privacy. Keeping your funds and transactions secret can be beneficial in many cases, especially when considering large amounts.

Moreover, ZEC is probably going to become more popular as miners will abandon Ethereum with the upcoming switch to a proof-of-stake model. This should keep the network secure and robust for many years to come, and ensure a growing number of users. Finally, there’s the fact that Zcash is a fully decentralized coin that didn’t require a pre-mine or ICO to get released to the public.

All of this allows us to believe that ZEC still provides some considerable profit opportunities to aspiring investors.

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