If you’re interested in Zcash (ZEC) coin, either as an owner or someone following its prospects, then you’re probably interested in predictions concerning its worth in 2021. In order to understand and correctly predict the ZEC price, you have to consider its price history and technical aspects.
Let’s get started!
This is an open-source and decentralized cryptocurrency known for its selective transaction transparency and privacy. Zcash is a result of a fork on Bitcoin protocol. This coin was developed by an engineering team that specializes in security and is based on peer-reviewed, cryptographic research.
Price History of ZEC
The price of ZEC has varied over the years since its launch in 2016. Here’s an overview:
ZEC Price in 2016
ZEC was launched in October 2016 and during that time, the creators explained the zk-SNARK (zero-knowledge proofs) encryption tech in detail and attracted much interest. The price initially increased to $4,000 and then stabilized between the range of $40-50.
ZEC Price in 2017
By 2017, ZEC was among the 10 best cryptos based on capitalization, reflecting its popularity. The agreement signed between ZEC developers and JPMorgan saw the price rise to $429 in June.
ZEC Price in 2018
Its peak market cap came early in the year, growing to more than $2.5 billion, with a price of $600-700. By December, the crypto boom decline made the price fall to $50-60.
ZEC Price in 2019
The downward trend from 2018 continued into 2019, Q1, with the price falling to $40. A bull run in June saw the price rise to $123. However, it couldn’t maintain its price tag above $100 and dropped massively by December to $26.
ZEC Price in 2020
The year 2020 started bullishly for ZEC. By February, the price had grown to $75, from $27 the previous month. However, the 2020 decline in the crypto market affected Zcash as well and by March 13, it reached an all-time low of $18.94. It started growing with BTC up to $100 by August, before falling to $50 the next month.
Zcash Price Forecast for 2021
Predicting crypto prices isn’t easy and straightforward. The volatility of the market, as well as many other factors, make it complicated. There are important factors that should be considered before predicting the price.
Factors That Can Drive the Growth of ZEC
- Supply: ZEC has a supply limit of 21 million. This supply limit can potentially increase Zcash demand.
- Demand: The anonymity of this coin is a major feature and is a reason for its rising demand, which will eventually push the price.
- Availability: This coin is available on numerous crypto exchanges, which increases the coin’s credibility and legitimacy.
- Partnerships: The goal of the partnership with Ethereum is to introduce zk-SNARKS to bigger platforms. While the partnership with JPMorgan is to introduce ZSL (Zero-knowledge security layer) to the Quorum blockchain or JPMorgan.
Now you can draw your own conclusions about the price of ZEC for 2021.
Where to Exchange BTC for ZEC
If you want to know the BTC to ZEC price, or convert your coins fast, you can use a Godex.io exchange.
There’s a high possibility for Zcash to grow in the future – privacy coins are in high demand due to their anonymity. And this coin is constantly being developed. Plus, you can easily exchange ZEC on Godex.io.