🔹 Project Overview
Zcash is one of the prominent digital currencies that was born to be an upgraded version of Bitcoin with the addition of a key feature: complete privacy.
The currency relies on zk-SNARKs technology that allows for encrypted transfers, where the sender, recipient, and even the amount can be hidden, making it a distinctive option for anyone seeking privacy in their financial transactions.
The total supply is fixed at 21 million ZEC, which gives it a scarcity similar to Bitcoin and enhances its long-term value.
🔹 Current and Historical Prices
Current price: $39.3
All-Time Highest Price (ATH): $5,941 in October 2016
Recent lowest price: around $16 in July 2024
🔹 Technical Analysis
Short Term: The price is currently moving between $37 - $40, and a clear breakout above $40 may open the door for levels $45 - $50.
Medium Term: If the overall market continues to rise with strong support from Bitcoin, the price could target a range of $70 - $100, which is a logical level if market sentiment improves.
🔹 ZEC's Relationship with Bitcoin Season
Historically, the Bitcoin season leads to a flow of liquidity towards alternative coins. At this stage, coins that offer distinctive value – such as privacy – become increasingly important.
Zcash is a candidate to be part of this movement, especially with its ongoing technical updates and its role as a leader in anonymous transactions.
✅ Although ZEC is still far from its historical peak, it still carries a strong element of scarcity and privacy, making it a potential option to return to the forefront at the beginning of any altcoin season led by a rise in Bitcoin.
