Zcash (ZEC) Price Analysis: Doubts Raised By Deloitte Executive On Zcash Had No Impact; Bullish Trend Likely – CryptoNewsZ

  • Deloitte specialist raises concern about Zcash over trust issues.
  • Zcash’s new stop is at 100 USD.

Zcash (ZEC) is one of the major crypto coins aimed at the privacy of the users. Recently Tim Davis- Deloitte’s blockchain specialist said that Zcash (ZEC) is soon going to struggle in the market and it can also harm its own users. Deloitte is actively looking for crypto firms to integrate blockchain technology into their business model. “Zcash is a defunct initiative,” he said. “It will only go so far.” He also attacked Zcash’s heavy dependence on trust. He added, “Zcash’s inherent flaw is that it relies on trust.” But these things don’t seem to be affecting the market largely. The price prediction goes with a target at 100 USD by the end of 2019. We should now analyze the current facts to understand the growth pattern of Zcash price.

Current Zcash Price Statistics-

zcash price chart

zcash price chart

  • Zcash (ZEC) is ranked at 24th position in the crypto market.
  • The ROI (Return on Investment) of Zcash value stands at negative 98.48%.
  • A total of 6,527,644 ZEC coins are in current circulation.
  • The current market cap as on 14th May at 04:44 UTC stands at 427,439,832 USD.
  • The value of each Zcash coin stands at 65.48 USD and 0.00822386 BTC.
  • The 24h volume at the same UTC stands at 532,874,826 USD.

Comparison-

Zcash coin has gone through many price variations until now. The major downtrend started after 11th January, and the lowest point of the coin was achieved on 06th February at 46.29 USD. The major gain was made after the 1st April market boom. ZEC price gained almost 20% in just 4 days. The coin is undergoing a price correction phase currently. The market cap on 14th April was 437,046,668 USD, and the value of each coin stood at 69.20 USD and 0.01360880 BTC. The current market cap and the value of each coin are respectively 2.19% & 5.37% less than the figures for last month.

Zcash Price Prediction –

As mentioned earlier, the value is likely to soar now. The next resistance will be placed at 73 USD. We predict the coin to reach as high as 100 USD by the end of 2019. The 2020 prediction goes with a targeted amount of more than 200 USD. It should be noted that the growth pattern is not going to be very different from the past trend.

Conclusion-

The new entrants to the Zcash market need not be worried about the sudden change in the price. Long term holding of the coins is advised.

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