{"id":4542,"date":"2021-06-09T08:48:33","date_gmt":"2021-06-09T08:48:33","guid":{"rendered":"https:\/\/paybis.com\/blog\/?p=4542"},"modified":"2023-07-21T14:17:35","modified_gmt":"2023-07-21T14:17:35","slug":"zcash-price-prediction","status":"publish","type":"post","link":"https:\/\/paybis.com\/blog\/zcash-price-prediction\/","title":{"rendered":"Zcash Price Prediction – Can ZEC Return To Its Former Glory?"},"content":{"rendered":"

Since the beginning of this bull market, a large number of cryptocurrencies have already seen large returns. Stimulated by DeFi growth and retail FOMO, altcoins have been showing price spikes matching those in 2017.<\/p>\n

That said, privacy coins<\/a> have been underperforming under current market conditions. Many haven\u2019t even come close to their previous all-time high prices. Could this mean that there\u2019s some untapped profit potential in this crypto niche?<\/p>\n

To find out, we analyzed the market and decided to write up a thorough Zcash price prediction. In this article, we introduce you to the fundamentals of this popular privacy coin and explore some details of the technology behind it.<\/p>\n

Moreover, we lay out the latest developments regarding privacy coins and deconstruct the upcoming updates in the ZEC network.<\/p>\n

Finally, we use our findings to support our technical analysis and provide you with an accurate ZEC price prediction for the short, mid and long term. In the end, we determining if the ZEC price<\/a> can return to its previous highs and strengthen your portfolio along the way.<\/p>\n

 <\/p>\n

A brief introduction to ZCash (ZEC)<\/h2>\n

ZCash is one of the most popular privacy-focused cryptocurrencies on the market. Announced as ZeroCash in a whitepaper in 2014<\/a>, it was finally launched in October 2016 under the current name of Zcash.<\/p>\n

The goal of this crypto was to provide a more private transaction environment than anything available at the time.<\/p>\n

Being a fork of Bitcoin, ZEC is quite similar to its parent crypto, meaning it has a maximum supply of 21 million coins ensuring increased scarcity in the long run. Additionally, ZEC undergoes a reward halving<\/a> event every 4 years, decreasing the number of coins put in circulation over time.<\/p>\n

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How does Zcash work?<\/h2>\n

There\u2019s a general misconception that Bitcoin transactions are anonymous. In fact, most blockchain transactions are pseudonymous<\/strong>, providing only a limited level of privacy to their users.<\/p>\n

In blockchains that don\u2019t focus on privacy, the sender\u2019s and recipient\u2019s address, as well as the amount that was transferred remain accessible to anyone.<\/p>\n

As such, government agencies and hackers can still link the data back to the individuals who made the transactions. ZCash provides a solution to this problem by introducing a privacy protocol known as Zk-SNARKS<\/a>.<\/p>\n

To be more precise, this protocol relies on the concept of zero-knowledge proof.<\/a> This means that you can prove knowledge of information, without ever divulging this information to anyone.<\/p>\n

Zcash users can opt-in for the level of anonymity they wish to benefit from, as the blockchain offers two types of addresses – shielded addresses (z)<\/strong> and transparent addresses (t).<\/strong><\/p>\n

It\u2019s worth noting that, while transactions are possible between these two types of addresses, only z-to-z transactions remain fully anonymous. <\/strong>In this case, neither the sender, recipient, or the transaction amount is known.<\/p>\n

\"multiple<\/path><\/svg><\/a><\/picture><\/p>\n

Source: z.cash<\/em><\/p>\n

 <\/p>\n

Today, the Zcash development is handled by the Electric Coin Company (ECC)<\/a>, with Zcash founder Zooko Wilcox<\/a> as the CEO. Over the years, the network has seen 5 major upgrades<\/a>, each one further improving the security, privacy, and efficiency of the Zcash blockchain.<\/p>\n

 <\/p>\n

Zcash and privacy coins latest developments<\/h2>\n

To justify our Zcash price prediction, we first need to explore the latest developments around privacy coin regulations and the upcoming updates of their networks.<\/p>\n

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Regulations and delistings<\/h3>\n

Privacy coins are often erroneously viewed as a massive gateway for illegal activities. Despite reports showing that they are responsible for only 4%<\/a> of such transactions, governments see them as a threat. As such, they are often under heavy regulatory pressure<\/a>, which can be followed by delistings on regulated exchanges.<\/p>\n

 <\/p>\n

For instance, during a privacy coin delisting trend<\/a> in the second half of 2020, Zcash was removed from major exchanges ShapeShift and Bittrex.<\/p>\n

 <\/p>\n

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#Bittrex<\/a> Customers:<\/p>\n

The $XMR<\/a>, $ZEC<\/a>, and $DASH<\/a> markets will be removed on Friday, January 15th at 23:00 UTC.<\/p>\n

Details: https:\/\/t.co\/8qAdjuwryJ<\/a><\/p>\n

\u2014 Bittrex (@BittrexExchange) January 1, 2021<\/a><\/p><\/blockquote>\n