As this year started, ZCash reached a peak price of $876 but sunk down incredibly fast as it soared. If you remember last year wasn’t really a great year for ZCash so all the prediction made about this currency are very controversial. Some optimistic analysts believe that it can reach about $554, others are not as optimistic.
Digital currencies are volatile and predictions have never been simple. The fluctuations in price are dependent on many factors.
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It’s very important to take into consideration all the possibilities and all the factors such as the ones we will discuss here.
The maximum supply of ZCash is limited to 21 million. This limitation can potentially increase the demand for it. Another very important factor is the advantage that Zcash has over bitcoin. Bitcoin still has the greatest reputation as an anonymous cryptocurrency but zcash is able to hide the sender, the recipient and the value of the transaction on the blockchain which makes it even more anonymous than bitcoin. Despite anonymity being connected to illegal activities, privacy coins serve as an important tool in the age of identity theft. The great thing about it is that it is also very easily available and accessible.
ZCash has partnered with strong names on the crypto market such as Ethereum and JPMorgan in order to implement the zero-knowledge security layer.
However, the lack of mainstream adoption can hold Zcash back. If it fails to achieve mass adoption this will probably have a great impact on the value. As far as the competition is concerned, the privacy coin sector is densely crowded and Zcash has to compete with multiple coins with similar features.
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