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Zcash (ZEC) price prediction for 2022-2030

27 Apr, 2022 Eduardo Ricou
Zcash (ZEC) price prediction

Transaction confidentiality is one reason why cryptocurrencies are so popular and blockchain technology is so widely used. But not all cryptocurrencies are completely confidential. You can track transactions in the Bitcoin network through a blockchain to determine the wallet address of the sender and recipient. The amount transferred is known from the beginning. That compromises the competition between cryptocurrencies and standard bank payment systems. 

Steven Waterhouse, a well-known entrepreneur, and crypto investor, once gave a good example: while Bitcoin is an HTTP data transfer protocol for the financial world, Zcash is an HTTPS protocol that offers encryption support for enhanced security. Most crypto enthusiasts agree with the analogy since Zcash is traditionally considered the first fully private, secure cryptocurrency.

So, what is Zcash? Is it worth investing in? What are the prospects of the Zcash coin? To make an accurate Zcash price prediction, let's dive into what Zcash is, its price history, technical analysis, and Zcash's future predictions from experts.

Zcash's history

The history of Zcash (ZEC), the first private cryptocurrency, deserves exploring the origin of the technology itself. Zcash owes its emergence to the ZeroCash cryptographic protocol. The protocol was developed by Professor Matthew Green and his graduate students, Christina Garman and Ian Miers, from Johns Hopkins University in Maryland. Initially, the project was intended to be a supplement to the Bitcoin protocol. In May 2013, the report Zerocoin: Anonymous Distributed E-Cash from Bitcoin was presented at a scientific symposium in San Francisco. Later, the protocol was executed as an alpha version for the existing Bitcoin network.

In January 2014, it was announced that Zerocoin would appear as a separate project based on the first cryptocurrency blockchain, Bitcoin. But later, the team failed to reach an agreement with the Bitcoin developers on permission to work with an operating protocol. The community of Bitcoin miners and users had already formed by that time. To know more about Bitcoin mining profitability, please read our blog. It was impossible at the time to create an addition to the BTC because it would have required existing developments to be expanded.

Twitter announcement on Zcash's planned launch.

On 20 January 2016, it was announced that the new Zcash cryptocurrency had been developed. The developers promised that it would be an ideological continuation of ZeroCash and an attempt to implement the protocol in isolation from Bitcoin. On 28 September, Zcoin, which was similar to the Zero-Knowledge concept, was released. However, records, keys and addresses and the transaction protocol were poorly developed. The coin was not as popular as the fully confidential Zcash (ZEC).

A month later, on 28 October 2016, Zcash officially appeared. Timed to coincide with the project's launch, the developers spoke in detail at the conference about the principles of transactions in the network and provided data on zk-SNARK. The conference attracted a lot of attention to the coin, which is how ZEC's price briefly reached $4,000, according to CoinMarketCap. After balancing supply and demand, the value of cryptocurrency settled in at $40-50 per coin.

What is ZEC?

Zcash (ZEC) is the world's first confidential open-source cryptocurrency based on a blockchain. Zerocoin Electric Coin Company developed it in 2016. The coin of the same name with the trading ticker ZEC is used as a payment method. The Zcash platform ensures transparency and complete transaction confidentiality in the network. Transactions are recorded in the general blockchain, but the sender, recipient and amount transferred are unknown to other members of the network.

Zcash uses cryptographic methods based on zero-disclosure evidence, which allows the mathematical reliability of the transaction to be verified without providing any information about the second participant in the transaction. In addition, the cryptocurrency uses special transaction block headers, zk-SNARK protocol, notes, JoinSplit descriptions, and others.

Ethereum's Byzantium testnet verified Zcash's private transaction.

A team of scientists from world-famous universities worked on the creation of Zcash. They came from MIT, the University of Tel Aviv, Technion, University of California, Berkeley, and others. In this regard, the internal structure of the coin is thought through to the smallest detail and mathematically justified. Zcash's technical protocol can be called a true scientific work and a breakthrough along the lines of Bitcoin and Ethereum (for our Ethereum (ETH) price prediction, please read our blog). 

Vitalik Buterin on Zcash's prospects

At the same time, the ZEC crypto has borrowed many successful developments from Bitcoin, Zerocoin and other cryptocurrencies. ZEC's minimum transferable value is ten minus eight degrees, or a zatoshi, similar to Bitcoin's satoshi.

The confidentiality of the Zcash network has been praised by many prominent investors, developers and cryptographers. WikiLeaks made donations to ZEC to keep it secure, and cybersecurity specialist Edward Snowden called it the best substitute for BTC. Because of its privacy, Zcash is often used on the online black market. Europol has even expressed concern about the cryptocurrency's popularity.

Zcash's (ZEC) advantages

In 2020, the average daily trading volume on ZEC was $500-$900 million. This significant popularity came to the cryptocurrency due to the system's reliability and the confidentiality of its transactions. Zcash is often referred to as 'digital gold', stealing the moniker away from Bitcoin. It seems that the cryptocurrency was created the way Bitcoin should have originally been. Here are some of the most significant advantages Zcash offers: 

  • Confidentiality. 

Full transaction confidentiality is a unique feature of Zcash's payment system. Many cryptocurrencies guarantee their users' confidentiality, but in reality, turn out to overpromise and underperform. Even more, cryptocurrencies lack any built-in encryption and are created by amateurs for amateurs. Zcash is a breakthrough in the industry of confidential transactions, allowing them to be made quickly, anonymously, and almost for free.

  • Inability to compromise the user. 

When exchanging ZEC, users do not disclose their personal data. Moreover, during the exchange, it is not even theoretically possible to calculate the ZEC wallets' addresses. In today's banking system, where a regulator controls every action a client takes, Zcash creates a convenient payment system that doesn't store data about its users.

  • Reliability of the network.

The decentralised blockchain creates a more reliable financial solution than all modern banking payment systems. Every year, swindlers and criminals find hundreds of loopholes in ATM algorithms and online banking, among other platforms. As a result, people lose their savings at the hands of unknown hackers. In the Zcash network, each user on whose computer a copy of a block sequence is stored is responsible. Hacking such a system is extremely unlikely and requires enormous resources to execute.

  • Use of scientifically based protocols. 

The ZeroCash protocol is the result of the work of several dozens of mathematicians, cryptographers and computer science specialists. The methods used to create the project are no worse than those used in serious scientific works. Appealing to authority is not an argument, but the creators of Zcash guarantee the stable and safe operation of the system with their own reputation in scientific circles. When Zcash was created, its developers were pursuing a scientific interest and aspiring to benefit humanity instead of seeking profit.

  • Fast transactions. 

One transaction takes between 1 and 2 minutes. The creation time for a block is fixed and takes no more than 150 seconds. As a result, transactions are four times faster than in the Bitcoin network (not taking into account the loaded mempool) and 30 seconds faster than in the SWIFT international transaction system. That makes Zcash not only a competitor to the first cryptocurrency but also a modern, confidential bank transfer that takes up to 15 minutes.

  • Convenient purchase. 

When you exchange BTC for ZEC, you can't track the recipient's information. That allows you to remain confidential even when logged into the Zcash network. However, there are many Zcash Foundation-accredited online wallets and services for storing and exchanging cryptocurrency. The original client programme requires you to store a blockchain of no more than 10 GB, which can't compare to the official BTC wallet's 200 GB.

  • Interchangeability. 

There are no differences between ZEC coins, regardless of how they were made and their previous history of use. Their value is influenced only by the coin's denomination and the total supply and demand on the market. Thus, absolutely all ZEC coins are equal to each other. However, the funds won't be 'blacklisted' as sometimes happens with Bitcoins on exchanges.

Zcash (ZEC) price analysis

As of 25 April 2022, Zcash (ZEC) is ranked 65th by market cap among cryptocurrencies, coming in at $2,106,736,904. Here's an overview of Zcash (ZEC):

Zcash (ZEC) Price Today

$147.92

Market Cap

$2,106,736,904

Circulating Supply / Total Supply

14,243,762.50 ZEC / 21,000,000 ZEC

Daily Trading Volume

$251,569,111

All-Time High

$5,941 

(29 October 2016)

All-Time Low

$18.94

(13 March 2020)

Official Website

https://electriccoin.co

Zcash's (ZEC) price history

On 28 October 2016, when Zcash (ZEC) was first presented at the conference dedicated to the project's launch, the developers attracted a lot of attention to the coin by explaining the details of zk-SNARK encryption technology. At that time, ZEC's price rose to $4000, but after it was placed on cryptocurrency exchanges, the price plunged before stabilising in the $40-50 range.

ZEC/USD historical price chart for all time
ZEC/USD historical price chart for all time

Due to its outstanding technical qualities, in April 2017, Zcash made it to the Top 10 cryptocurrencies by capitalisation. That was a direct reflection of Zcash's popularity. The first serious spike in the coin's capitalisation and market value occurred in May of the same year when developers signed a partnership agreement with the American financial holding JPMorgan. That led to a price increase that saw ZEC reach $429 by June 2017.

The peak of the market capitalisation was achieved against the background of the general popularity of the crypto market at the beginning of January 2018. The market cap grew to over $2.5 billion. At the same time, the price per coin reached $600-700. After the decline in the crypto boom, the price returned to normal and levelled off at the previous values of $50-60 by December.

In 2021, following general market bullishness, Zcash rose over 700% to set a new high since May 2018. Enthusiasts all around the world were excited, with many believing this would be the start of Zcash's move back to $4000. However, a lot of people were disappointed because the coin didn't manage to set a new high despite the bullish pressure.

Zcash (ZEC) price prediction 2019

ZEC/USD daily logarithmic chart 2019.
ZEC/USD daily logarithmic chart 2019

In Q1 2019, Zcash continued to trend down, reaching $40 by 4 March. As expected, buyers defended the $40 support level and started buying ZEC, which reversed the negative trend to the upside. Bulls pushed Zcash's price to $123 on 27 June. After that, the asset tried to stay above $100-110 support but failed. Sellers dragged the price down to as low as $26 by December.

Zcash (ZEC) price prediction 2020

ZEC/USD daily logarithmic chart 2020
ZEC/USD daily logarithmic chart 2020

Zcash opened in 2020 with a strong bullish trend. ZEC's price grew from $27 in January to $75 on 13 February, an almost three-fold price increase. However, as the entire cryptocurrency market declined, Zcash followed. The asset's price decreased to establish a new all-time low, falling to $18.94 on 13 March. After that, the market turned positive, and Zcash's price grew along with Bitcoin's, reaching the $100 mark by 6 August. That was followed by a pullback to the $50 support level by late September.

Zcash (ZEC) technical analysis

ZEC/USD daily logarithmic chart 2021
ZEC/USD daily logarithmic chart 2021

ZEC began the year with a flying start. It started trading higher from the first week of the year, creating a bullish market structure on all major timeframes. By May, it had risen by 571% to set a yearly high at $372. ZEC corrected sharply immediately after that, losing more than 70% of its previous gains and finding strong support at around $87. The price traded within the range of the price correction for a few months, then picked up again in October and recovered above $300 once more.

Zcash (ZEC) technical analysis

ZEC/USD D1 chart.
ZEC/USD D1 chart.

A quick look at the daily chart shows that Zcash's price has come a long way from the top. It also looks like ZEC's price is struggling to recover from the correction, seeing as the resistance at around $176.90 was strong enough to reject the price. The good news is that Zcash has also found support not so far down at $134.20 and is headed back towards the aforementioned resistance. We can hold our breaths in anticipation of a breakout since simple S/R theory suggests multiple hits should have weakened the ceiling enough for bulls to drive the price through. If this happens, bullish momentum should increase following the market structure shift.

Today's Zcash price prediction shows that ZEC aims to retest the local support at $134.20, and the potential break below could see the price go to $87.80 in the coming months. In the same vein, if the support holds, bulls may be more confident in committing resources to drive the price higher to the resistance level around $176.90.

Zcash (ZEC) price prediction for 2022, 2023, 2025 and 2030

Now let's take a look at Zcash (ZEC) price prediction from popular experts and agencies. What do they expect from ZEC cryptocurrency in the future, and what are its prospects?

TradingBeasts Zcash (ZEC) price prediction for 2022, 2023, 2025 and 2030

Following Zcash's price prediction from TradingBeasts, Zcash's future price isn't particularly optimistic. The price may fall by about 8-14% until the end of 2023, averaging around $150. It won't be until 2025 that we can expect to see higher prices, and even then, not by much.

WalletInvestor Zcash (ZEC) Price Prediction for 2022, 2023, 2025 and 2030

Per WalletInvestor's Zcash (ZEC) price prediction, ZEC is a fair long-term investment. They predict that in one year, Zcash will have grown over 45%. This isn't much compared with other pairs, but a slow and steady increase beats a bearish market anytime. In 2026, ZEC's price will stabilise at around $454, which is more than 150% of its current price, a solid prospect for long term investment.

WalletInvestor's Zcash (ZEC) 2022-2023 price prediction.
WalletInvestor's Zcash (ZEC) 2022-2023 price prediction.

CoinSwitch Zcash (ZEC) Price Prediction for 2022, 2023, 2025 and 2030

The CoinSwitch news website predicts a bright future for Zcash. Their Zcash price prediction suggests that the $1242 figure for 2025 is still feasible, and the price may even tip the point before the predicted time. 

Zcash (ZEC) overall future value predictions

Despite the emergence of new competitors, ZEC remains one of the most attractive cryptocurrencies for investment. Investors highly appreciate the possibility of exchanging coins privately with a high transaction speed.

Will Zcash (ZEC) go up?

Based on the project's fundamentals and working solutions, there's no doubt this cryptocurrency will grow in the future. Its daily trading volume indicates wide usage of the cryptocurrency.

Zcash (ZEC) price prediction today

Zcash has great prospects for the future. In the age of centralisation, the demand for anonymity is on the rise. Upcoming events, such as the Canopy update and ZEC's halving, will strengthen the cryptocurrency's position and increase its attractiveness as an investment option. At the same time, the Zcash Foundation's team of qualified mathematicians and cryptographers are developing and maintaining the cryptocurrency. In this regard, Zcash has excellent credibility among network users and investors.

 

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