Zcash (ZEC) Price Prediction for 2023, 2024-2025 and Beyond

2023-01-09 2023-01-09
Zcash Predictions: Should You Invest in ZEC

Jana Kanehttps://www.litefinance.org/blog/authors/jana-kane/

Despite regulation restrictions, the popularity of cryptocurrencies has been growing over the years. We all have heard about Bitcoin, Ethereum, and Litecoin. Still, there are other digital assets that can provide investors with exciting opportunities. ZEC is one of them.  

Zcash is considered a promising token with a high level of anonymity. It’s the first open-source digital asset based on a blockchain. The coin appeared on October 28, 2016 and currently has a market cap of $2.636 billion dollars. The total possible Zcash supply is 21 million coins. Bitcoin’s framework became a foundation for Zcash, which is why both coins have many things in common. Still, their value differs significantly – BTC has broken above $65,000, while ZEC is still slightly over $200. What determines the price of Zcash? How much will Zcash be worth?

Zcash price prediction is not an easy thing. In this guide, we will consider not only historical price movements but predictions of ZEC analysts. To make your future investing more successful, we will highlight factors that affect the coin’s market price, so you will be able to make your own Zcash price forecasts. Will the price of Zcash go up? Let’s find out!

Zcash: What Is Inside?

Before we consider price movements, let’s answer one simple question – what is Zcash? Zcash or ZEC is a cryptocurrency built on a decentralized blockchain that includes open-source code. That is its main similarity with Bitcoin. Another thing Zcash shares with BTC is the cap. Both cryptocurrencies have a limited offer of 21 million units.

However, ZEC, as a privacy coin, takes further steps to protect its users. The system was developed to provide users and their transactions with anonymity. ZEC increases privacy by applying zero-knowledge proofs (zk-SNARKs). It allows users to validate transactions without disclosure of information that could affect the user’s privacy. At the same time, the ZEC coin has an exciting feature. It allows users to share address and transaction information they can select to comply with audits and regulations.

According to its developers, ZEC is built on strong science. Let’s talk more about ZEC addresses. They are divided into two types: 

Z-addresses are private, while t-addresses are considered transparent. There are four transaction types between these kinds of addresses. Two address types are interconnected. You can transfer funds between both address types. The only requirement is to be aware of the privacy implications.

The key advantages of Zcash are low-rate transactions, the anonymity of users and transactions, disclosure of payment data to a third party, transaction expiration, and multiple signatures for transactions.

The main factor that contributed to the development of cryptocurrency is privacy. ZEC submits a high degree of it and can be called a “leading privacy” coin. Yet, this cryptocurrency hasn’t reached the highs of BTC. What is Zcash’s future? We’ll address that next.

The Price History of ZEC: Focus on 2023

Although there are many expert forecasts, it’s vital to be able to predict the price direction independently. One of the most frequently asked questions is, “why is Zcash going up?” Before you forecast a future Zcash trend, look at the historical price movement. 

The development of Zcash dates back to the creation of ZeroCash cryptographic protocol, which was supposed to become a supplement of well-known Bitcoin. As the developers of Zerocash couldn’t agree with Bitcoin founders, a new cryptocurrency, Zcash, was formed. 

This digital currency was supposed to keep the ideology of ZeroCash but use a protocol separated from Bitcoin. On October 28, 2016, the new Zcash cryptocurrency was officially released. The launch of the private ZEC coin attracted a lot of attention. As a result, its price skyrocketed to around $6,000. However, later it balanced in the area of $40-70.

According to Coinmarketcap, ZEC is the 63rd largest cryptocurrency worldwide. Still, despite its functionality, it’s not among the 15 largest digital assets. In 2018, the price of ZEC was around $900. In 2019, it has fluctuated within a broad range of $27-$124. In 2020, ZEC was between $25 – $100. 2021’s ZEC price has fluctuated between $64 and $370. To understand the reasons behind the low value of ZEC, let’s consider historical price movements.

It’s not a secret that the spikes in the price of cryptocurrencies mostly occur due to upgrades in their blockchain or because of cooperation agreements. The same factors led to Zcash’s growth.

The first significant event happened in May 2017. Coin developers agreed with JPMorgan to add privacy technology of Zcash to the JPMorgan blockchain platform. At that time, ZEC coin’s capitalization and market value reached the top and led the currency to the top-10 crypto assets. In June 2017, ZEC traded near $400.

The all-around crypto popularity caused a further rise at the beginning of 2018. The price was around $800. Later, the crypto boom effect calmed down, and Zcash returned to its normal rate.

The next significant upward movement was in June 2019, when the price climbed above $100. The rise could be caused just by the strength of bulls who tried to push Zcash from its lowest level since 2017.

Later the price increased in February 2020. However, bulls were not strong enough to keep the price at highs. And it was expected. The spread of COVID-19 crashed the market. As a result, ZEC plunged below $25 in March 2020. In August 2020, Zcash was pushed to $100. Although ZEC lost in value in September 2020, this surge helped the cryptocurrency move from previous lows.

ZEC protocol went through a vast number of upgrades. Still, halving became one of the most important events of 2020. Halving is a standard procedure for cryptocurrencies. However, it has an impact on Zcash’s future value for sure. On November 28, ZEC underwent halving. It meant that the reward of ZEC miners was reduced twice from 6.25 to 3.125 ZEC per block. As anticipated, the event caused a fall in price, but the coin managed to recover quickly. 

After a challenging year driven by extreme price fluctuations, starting January 2021, the price of ZEC began a strong uptrend, reaching a high of $120. February 2021 saw a continuation of the upward movement, with ZEC trading around $200. By the end of February, the price had fallen. However, the trend recovered at the end of March. The price began rising after the U.S. Federal Reserve announced an open-ended asset purchase program for global markets post-Covid. The ZEC price reached another high of $299 on April 17th after the European Union dumped a decentralized solution. In May, it peaked at $318.92 due to the news that Dogecoin might witness a fall. 

However, it crashed back down to around $100 in June 2021, following several government crackdowns. The downward movement continued till July 2021. On the first day of September, the ZEC price rose to $151.63 and then to $176.05 on the 6th of September owing to the El-Salvador cryptocurrency regulation move, when the country passed Bitcoin as a legal tender. However, the uptrend was short. ZEC dropped to $111.75 due to the Chinese-based property developer Evergrande’s crisis on September 21st and then fell again by the end of the month due to China’s crackdown on cryptos. The new uptrend began in October. Bitcoin’s surge above $60,000 pushed Zcash above $200. 

On November 21st, the cryptocurrency was the biggest gainer as the Electric Coin Company shared plans for Zcash development for the next three years. A major plan is to move Zcash from proof-of-work to proof-of-stake. It will contribute to reducing downward pressure on Zcash’s market value.

Zcash Price Target for 2023: How High Can Zcash Go? 

As you can notice, Zcash is highly volatile, and like other cryptos, it is also susceptible to news or market speculation. It’s not simple to predict its value in advance. The price tomorrow cannot be completely determined by ZEC’s price today. That’s why it’s worth checking the Zcash forecasts of crypto experts. We have gathered several opinions that will allow you to formulate an outlook for the remaining months of 2021. Check the predictions below to find an answer if you are still confused over the ‘Zcash buy or sell?’ question.

#1 WalletInvestor

According to WalletInvestor, Zcash is supposed to be a good investment opportunity. WalletInvestor analysts believe that the Zcash future value will increase in December 2021. The average price will break above $300 by the end of the month. The maximum price will skyrocket above $500. However, the minimum rate projection is too low. It’s a sign of incredible market volatility. 

#2 DigitalCoin

DigitalCoin agrees with WalletInvestor and predicts that ZEC will keep rising at the end of 2021. The website believes that ZEC will remain above $200. The average price of the cryptocurrency is predicted to be $276.28 in December.

#3 CryptoGround 

CryptoGround sees ZEC near $245 towards the end of 2021. This ZEC price prediction means that the cryptocurrency will be going down in December. Read on to know whether Zcash will cost $1,000 in the future.

#4 Previsioni Bitcoin

Previsioni Bitcoin also believes there will be a surge of ZEC in December 2021. The platform sets the Zcash forecast at $355.16 in December.

#5 TradingBeasts

TradingBeasts says Zcash’s average price will be able $175.26 in December 2021, with the predicted maximum price at $219.08 and the minimum price at $148.975. 

Zcash Technical Analysis

Let us start the ZECUSD technical analysis by exploring the monthly timeframe to identify the long-term Zcash trend.

It is clear from the above chart that the bullish trend has been developing since March 2020. Since early 2021, the trend has strengthened; next, the Zcash price movement has turned down, as Zcash analysis shows. The ZEC current price seems to be trading down. 

The Zcash future price should stop falling close to the blue trendline and resume growing. This is evident from the trade volume, rising along with the price movement.

There have been no trend reversal signals so far. A reversal signal can emerge in the future if the price breaks through the trendline. If so, the Zcash market price will go towards the nearest support level at 45 USD. The support is marked by the red line in the chart. 

Zcash price prediction for next three months

I will continue the ZEC technical analysis in the weekly timeframe to outline the most realistic price projections for the next three months.

The Zcash chart analysis suggests that the price should resume growing after it touches the trend line. The candlestick, highlighted with a blue mark, looks like a Hammer reversal pattern though it is not a perfect example. The next three candlesticks should signal a bullish movement.

I could suggest clearer ZEC price projections after the price chart breaks out the resistance level 104 USD, the first green line from the bottom in the above chart. One more signal of the projected growth can be sent by the MACD. As it is a lagging indicator, there are no obvious reversal signals yet.

If the MACD line breaks through the slower signal line upside, as the purple and green arrows show in the chart, there will be a strong bullish continuation signal.

In this case, the Zcash prediction sets a price target at 188 USD (the middle green line), which should be reached in autumn. 

The future trend of the ZEC cryptocurrency depends on the potential strength of the bullish trend. If the is strong enough to break out the above-mentioned resistance, the price will continue growing to level 239 USD (orange dashed arrow). Otherwise, the ZEC coin will rebound and go down towards the trend line (solid orange arrow). 

Monthly ZEC price forecast for 2021/2022

Based on the historical data and the Bollinger Bands pattern, I suggest the Zcash forecast and prince range projections for the next twelve months.

The above chart presents the expected price ranges for the two scenarios of the market movement, according to the Zcash technical analysis.

Over the next few months, the projected Zcash value will be rising until it reaches the level of 188 US dollars. The further ZECUSD rate will depend on bulls power.

If level 188 USD is broken out, the ZEC market price will be rising towards 239 USD. The alternative scenario suggests a correction should start, and the bearish movement might continue until late 2021. By late spring-early summer 2022, I could predict that the ZEC value will be trading in the range of 110-180 USD, possibly approaching the trend line.

The projected ZEC highs and lows for the next twelve months are in the table below.

Long-term trading plan for ZEC/USD

Having performed the Zcash technical analysis, I suggest the following ZECUSD trading plan, based on the most realistic outlook:

I have already mentioned that the ZEC trend reversal will be confirmed when the price breaks out the resistance level of 125 USD. Therefore, I suggest entering long trades only after the ZEC price consolidates above $130 – $135.

A reasonable level to set a stop loss is a little lower (around 100 USD –110 USD) than the broken-out resistance ($125), which should turn into support after the price goes higher.

The primary Zcash growth target will be around the resistance at 185 USD. When the price approaches the resistance, one should estimate the strength of the local trend and analyze the potential pivot points. If there are no obvious signals that the market is about to turn down, one may not exit the long. I suggest moving the stop loss to the breakeven. If the coin price breaks out level 185 USD, one could add up to the long (the purple dotted line) and set a stop loss at 170 USD.

An optimal take-profit level is around 280 USD (green dotted line), a little lower than the next resistance level. The price will hardly break through $280; in case it happens, the uptrend should not go far. 

Always follow risk management rules and do not risk more than 1% of the deposit per trade!

 ZECUSD Technical analysis provided by Michael Hypov.

Weekly Elliott wave ZCash analysis as of  09.01.2023

The ZECUSD market continues forming the multi-year correction as a double zigzag W-X-Y. After the ascending linking wave X finished as a double zigzag [W]-[X]-[Y], the market has been forming the bearish wave Y as a double zigzag [W]-[X]-[Y], with the final motive wave [Y] developing inside. Let us study the most recent chart section in more detail in the H8 timeframe.

Wave [Y] is developing as a double zigzag (W)-(X)-(Y), with zigzag-shaped sub-waves (W)-(X) completed and the final motive wave (Y) forming inside. The (Y) is unfolding as a double zigzag W-X-Y, where the final motive wave Y is also a double zigzag [W]-[X]-[Y] of a smaller degree. There is forming sub-wave [Y] as a standard zigzag (A)-(B)-(C), as outlined in the chart. The first impulse wave (A) has completed, and correction (B), currently unfolding, should finish at a level of 47.65, the high marked by sub-wave W.

Weekly ZECUSD trading plan:

Buy  41.31, TP 47.65

ZECUSD Elliott wave analysis is presented by an independent analyst, Roman Onegin.

Zcash Price Target in 2022: Is Zcash Expected to Rise?

ZEC’s current price is

In 2021, ZEC’s most noteworthy highs were witnessed in April at $299 and May at $386. ZEC hit its lows in January, being below $100 and in July, falling below $100. Though long-term predictions are tough, below is what the analysts have projected for 2022: 

#1 CryptoGround

Crypto Ground is among the few predictors who see the price of ZEC constantly rising. At the end of 2022, the price is forecast to be $293.79.

#2 Previsioni Bitcoin

Previsioni Bitcoin sees the lowest price of ZEC in August at $311.69 and its highest at $595.04 in February 2022. The crypto asset will fall while approaching 2023 but will still be above its 2021 levels.

#3 DigitalCoin 

According to DigitalCoin, Zcash will fluctuate throughout the year. The cryptocurrency will start 2022 at $327.27 and move to $391.74 in June. Although the final figure for December ($349.96) is lower than the overall ZEC rate for the whole year, the source doesn’t expect a big crash. 

#4 TradingBeasts

TradingBeasts predict a downtrend for ZEC. The experts are sure that ZEC will move sideways. The average price will rise in May to $176.817, the highest for 2022. They have set a projected value of  $172.618 for December 2022, the minimum average price ZEC will witness for the year. 

#5 WalletInvestor

WalletInvestor has projected growth for ZEC in 2022. Although the first half of the year will be highly volatile, the average price will rise above $400 in October. Again, the source points out increased market fluctuations as the difference between the highs and lows is enormous. 

Zcash: Should You Buy or Sell in 2023?

Below you can find the predictions analysts have made for 2023: 

#1 CryptoGround

Crypto Ground has predicted ZEC’s estimated growth to $550.31 by the end of 2023.

#2 Previsioni Bitcoin

Previsioni Bitcoin says that for 2023, the lowest ZEC price is forecast at $252.45 in August and the highest – at $353.01 in July. 

#3 DigitalCoin

DigitalCoin forecasts that Zcash will equal $470.56 in September 2023, the maximum for the year, and $375.85 in March 2023, the minimum for the year.

#4 TradingBeasts

According to TradingBeasts, the projected value for 2023 will be much lower than in 2022. The average price in January and maximum rate in 2023 of Zcash is $171.180. Bears will lead the cryptocurrency to $148.549 in December. 

#5 WalletInvestor

ZEC will start the year at $357.82. WalletInvestor analysts believe November 2023 will witness a maximum ZEC price of $925.80. By the end of the year, ZEC will experience a  projected growth to $414.281.

Zcash Price Prediction for 2025-2030

Although many analysts make long-term ZEC predictions, you should know they are approximate. As ZEC is one of the most volatile crypto assets, it’s hard to predict its price with a high degree of accuracy. To not be fooled, we recommend applying fundamental and technical analysis and reviewing your projections frequently.

Not all analysts are ready to provide such a long-term forecast. 

#1 WalletInvestor

WalletInvestor says that ZEC will rise from $478.90 (on January 1, 2025) to $535.26. The maximum rate will be reached at the beginning of November 2025 – $1,625. In October 2026,  the highest price will reach $2,000. There are no forecasts for 2027 to 2030.

#2 DigitalCoin 

DigitalCoin believes ZEC will reach $517.67 by the beginning of 2025, $672.03 by January 2026, $795.28 by the beginning of 2027, and $823.30 by 2028. Analysts at DigitalCoin have made no predictions for 2029 and 2030.

#3 CryptoGround

CryptoGround has forecast ZEC’s price at $1,050.53 in 2025 and at $1,268.34 in 2026. No forecasts have been provided for 2027-2030.

Conclusion

Have a look at the table below by Coin Price Forecast to gather a summarized answer to your Zcash price prediction questions:

Despite mixed forecasts, Zcash seems to still be among cryptos with potential. It means that it’s unlikely the coin will disappear as other small cryptocurrencies have done. If the developers come up with new ideas, the currency will keep climbing. 

Although the Internet is full of price predictions, let’s be realistic – you shouldn’t dive into them blindly. That’s why we recommend using a LiteFinance demo account that will provide you with real market conditions but will allow trading without losses. 

If you don’t try trading fake money before entering the real market, you risk losing a lot despite analysts’ predictions. As you could notice, ZEC is one of the most volatile crypto assets. The price suffers significant spikes. Thus, the risks of mistakes increase significantly, especially if you are a newbie trader. 

Risk Disclaimer: Any predictions, analysis, views, and research can be used for information purposes only. The article does not constitute investment recommendations. Additional research is required before decision-making.

Price chart of ZECUSD in real time mode