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Live Zcash Price Chart - ZEC Price News, Analysis & History

Zcash is a major cryptocurrency that can be readily compared to the extremely well-known Bitcoin. However, Zcash aims to deliver improved privacy in comparison to the market-leading token, despite being based on Bitcoin's codebase. Zcash also has a fixed lifetime supply of tokens equal to 21 million, in common with Bitcoin. The native currency of the network is known as ZEC.

Zcash makes private transactions possible via the process of selective disclosure, which enables users to prove payments for auditing purposes. Transactions are fully auditable at all times, but disclosure is under the control of participants.

Zcash has established itself as one of the major cryptocurrencies over the last few years, so in this article, we are going to examine some of the most important issues related to it.

Key Zcash Price Metrics

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Zcash (ZEC) Price History

Having begun at a price point of virtually zero, Zcash increased in value rapidly throughout 2017 and 2018. The altcoin peaked at the value of nearly $720 in January 2018 but has since declined in value somewhat from this price point.

As cryptocurrencies experienced a correction in 2018, Zcash was one of the many tokens to decline in this bear market. But it has begun to ascend in price once again during 2020, doubling up from a lower value of just over $30 to reach over $60 at the time of writing.

3 Key Instances for the Evolution of Zcash Price

1

Critical Bug

In March 2018, an employee of Zcash named Ariel Gabizon spotted a critical error in the code of the cryptocurrency, which would have allowed an attacker to create an infinite amount of counterfeit tokens. This was rapidly fixed but impacted significantly on the reputation of Zcash at the time.

2

Rebranding

Moving forward from a difficult 2018, in 2019 the Zcash Company announced a rebranding as the Electric Coin Company, which continues to oversee the Zcash project to this day. The Electric Coin Company worked hard on ensuring that Zcash was compliant with all FATF recommendations in 2019, and its reputation had been significantly enhanced by the end of the calendar year.

3

Bootstrap Project

On 12th October 2020, the Electric Coin Company announced a new non-profit called the Bootstrap Project, as Zcash looked to branch out. Shareholders later voted to donate 100% of the company's shares to this bootstrap company. The move represented a major evolution in the organisation of Zcash and its cryptocurrency project.

Key News for Zcash Price

Many factors have impacted on the price of Zcash over the years, but going forward there are undoubtedly two major issues to address. The ongoing Covid health crisis has undoubtedly dominated the financial marketplace, and this will continue to be the case for the foreseeable future. While there have been optimistic reports that vaccinations could return economic and social life to normal by the end of 2021, in the meantime, Covid will continue to have a massive impact.

This has tended to be bullish for cryptocurrencies which are seen as alternative stores of value. However, the precarious nature of the economic recovery going forward could also have an impact on the price of Zcash. This would tend to be a positive indicator, but it should also be noted that cryptos have tended to fluctuate in value at times, and this could be exacerbated in an uncertain financial climate.

Zcash Price Technical Analysis: How to Identify Good Entry/Exit Points when Trading

It is beneficial when trading cryptos to have a good level of technical knowledge, and a central aspect of this is to engage in technical analysis. This is one of the most commonly used predictive aspects of trading, which enables you to generate trading signals that make it possible for you to anticipate what's coming next.

Among the tools used by traders in technical analysis are Fibonacci indicators, pivot points and various other mathematical based indicators. In particular, volume and volume-related indicators can be a critical sign that the market is heading in a certain direction.

Have a Clear Goal

When trading currencies such as Zcash, it's also important to have a clear goal in mind from day one. There are specific rules for finding the best entry and exit points, so it's important to understand what you wish to achieve before you begin.

This can help mitigate the emotional impact of the market heading in one direction or another, enabling you to make decisions based on rationality. If you don't remember why you entered a particular market, and engage in sensible risk management on all trades related to Zcash and other cryptocurrencies, you are unlikely to exit in a timely fashion.

Make Use of Analysis Tools

There are a variety of analysis tools available for Zcash traders, and one of the most important is laddering. This is particularly valuable, as it can enable you to remove some of the risks from cryptocurrency entry decisions.

Laddering essentially means that it is not necessary to enter or exit a particular trade all at once. In fact, in many cases, it’s better to enter and exit gradually, in order to mitigate the effects of market volatility. 

If the price of Zcash is going down, but you believe that it will head up imminently, it can be very difficult to catch the bottom. So gradually entering with a series of small trades effectively means that you enter the market more safely. 

Volume indicators are also particularly valuable. Notable volume changes communicate important insights into the way the market is behaving. When there is an unusually large trading volume, it means that the market is entering a new position. From this information, it is usually possible to ascertain whether this trend is bearish or bullish.

Experienced and savvy investors also use charting to their benefit. Using stock charts constructively can help you to understand the current status of a particular stock, and thus time buy and sell signals effectively. Stock charts include important information such as price and volume, moving average lines, and relative strength index, and charting patterns in these factors can help you to understand what will happen next.

Fundamental and Sentimental Analysis

Fundamental analysis involves evaluating the value of an asset based on the fundamental characteristics that underpin the project. Engaging in this form of analysis can help ascertain whether an asset is undervalued or overvalued in the market

Conversely, sentimental analysis focuses on market sentiment and sees traders gauging the way that investors are currently investing their funds. This can be achieved via dialogue with other traders, reading media, conducting market research and gathering data.

While fundamental analysis is considered more scientific, both methods have their advocates and success stories.

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Frequently Asked Questions

  1. Zcash can be purchased from a range of online exchanges. There are also community maintained lists such as the Zcash community site.

  2. There are many third-party wallets available for Zcash, and the people behind the project also officially endorse Zcash.

  3. According to its public statements, the Electric Coin Company aims to “empower everyone with economic freedom and opportunity”.