Hard forks are not uncommon for digital assets. This model is typically implemented to upgrade a Blockchain’s core code. For this content, we will be talking about the long-anticipated Zcash hard fork. Zcash’s coming hard fork is called Overwinter. Overwinter will basically be an upgrade to Zcash’s network. The entire upgrade period will include up to 90 days. This time period will be enough to effectively make sure users who use crypto exchanges that hold their ZEC tokens, support the Zcash’s new protocol.
The upcoming upgrade has dignified the reputation of Zcash already. This has led investors to hold lofty expectations for the network upgrade. Many consider it the best cryptocurrency to invest in 2019.
Moreover, people have now begun to realize that Bitcoin lacks privacy. Hence, they have started to shift their choice to Zcash. The Zcash protocol is famous for maintaining anonymity during the transactions. Back in 2018, after Zcash’s first hard fork happened, it managed to increase the price of Zcash greatly. The same is expected from the long-anticipated hard fork for Zcash.
Zcash Price Prediction: The Price of Zcash Was $75.23 at Press Time – Zcash Price Forecast
The coming hard fork will likely impact Zcash’s price. However, the current status of the price of Zcash is fair. According to data given by coin market cap, as of press time, the price of Zcash stood at $75.23. Zcash had a market capitalization of $494,938,249 and is currently number 23 among the top cryptos by market cap. Zcash has a circulating supply of $6,579,056 and 24-hour trade volume of $408,893,997.
Zcash Price Prediction: Comparing the Price of Zcash From One Month Earlier to its Current Levels – Zcash Price Forecast
The chart from Coin Market Cap shows that currently, ZEC is getting traded at 74.90 USD or 0.00946819 BTC. Its present 24h volume is worth of 408,893,997 USD (UTC time 09:04). The same chart makes it evident that approx. One month earlier, ZEC had a trading value of 59.76 USD with a market cap of 382,492,262 USD. So, within this duration, the value of ZEC has spiked up by 25.33% with 68.67 USD as a good support resistance.
Zcash Price Prediction: The Price of Zcash Could Research $80.68 by Year End – Zcash Price Forecast
The overall market sentiment remains positive for the price of Zcash. For the medium-term, it appears this is positive as well. Analyts came to this conclusion going by the basis of the predictions and analysis given above. Considering the current facets, it is believed that the price of ZEC can go on to trade at $80.68 by the end of this year.
Although the crypto market sphere is really turbulent, the upcoming hard fork is holding a lot of expectations from ZEC. Besides that, its number of users are on growing due to its focus on anonymity. Overall, it is a great option for long term investment. The year 2018 was an excellent year for Zcash. The network saw changes to its mining structure as well as several network upgrades. The blockchain is constantly evolving and this is necessary to stand tall among other coins.
Do you think Zcash is the best cryptocurrency to invest in 2019?