Zcash (ZEC) has been in the crypto space for a while now. It is one of the most popular altcoins in the market. While Zcash does not make it to the top five best cryptocurrency 2019, it is one of the best privacy-oriented cryptocurrency to invest 2019. Some digital asset investors are attracted to this digital currency because of its private nature. With Zcash (ZEC), a digital asset investor or trader can move funds around without being traced or leaving any tracks behind. While it has its cons, the pros outweigh the cons. This is why Zcash is like the best cryptocurrency 2019 for digital asset investors that want to move funds without being traced.
Privacy-oriented digital currencies seek to overcome the issue of crypto privacy by introducing new innovations into the blockchain. The first digital currency to incorporate ZK-SNARKs into the blockchain is Zcash (ZEC). With this, users can choose between unshielded addresses or private shielded addresses. Zcash is not the only privacy-oriented digital currency in the crypto space. Other privacy coins include Monero (XMR), Verge (XVG), and others.
Zcash Price Analysis – Will Zcash Recover?
Since late last month, the price of Zcash against the USD has been along an upward support line. The massive crypto bull run early this month also boosted the price of Zcash. The value of Zcash surged significantly and tested the $79 mark on the 3rd of April. On getting to this level, Zcash price encountered a stiff hurdle on the upside and it started correcting lower.
The short-term resistance and long-term support created a symmetrical triangle together. The short-term Zcash price prediction was also attained with the massive Zcash price recovery. At the moment, the digital currency has lost most of those gains as it plunged below the $70 mark. Recently, the price of Zcash rose towards the $73 mark twice in a day. But the bullish momentum around the coin is not strong enough to maintain gains.
Zcash Price Prediction 2019 – Does Zcash Has the Potential to Recover this Year?
Zcash (ZEC) was the first privacy-oriented digital currency to integrate ZK-SNARKs into its network. This development increased the positive attention around the coin, it also helped to boost the overall growth of the coin. Since then, the adoption, use cases, and listing of the coin have increased. Zcash was the third digital currency that Gemini exchange added to its platform. The legal defense of Julian Assange is presently accepting Zcash as a means of payment.
Zcash has faced a lot of competition since its emergence. But the digital currency has managed to remain strong and relevant in the digital currency space. Zcash has a lot of potentials to excel in the future. The digital currency is backed by a strong team. The community behind the coin is also very supportive. With all these support and development around the coin, Zcash might be heading for the moon soon.
Zcash short-term price prediction 2019 is $100. This is a quite realistic and achievable price prediction this year. However, Zcash price needs to break over its immediate resistance levels to achieve this.
Zcash (ZEC) Price Today – ZEC / USD
At the time of writing, the price of Zcash (ZEC) is $69 after an increase of about three percent over the past twenty-four hours. The current market cap of the digital currency is $440 million. The trading volume of Zcash (ZEC) over the past twenty-four hours is $193.84 million.
Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.