Zcash (ZEC) News – Is it time for Zcash to join the party?

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In the last few months, Bitcoin (BTC) has been consistently moving up. It is outperforming the Altcoins as well. Due to this very reason, the dominance of Bitcoin (BTC) is consistently increasing. However, there is another group of coins which is finally beginning to move. These are the coins which offer anonymous transactions. One such coin is Zcash (ZEC). It has already risen by a significant amount. The question which remains is if it can outperform Bitcoin (BTC) anytime soon.

Is it time for Zcash to join the party?

In all fairness, Zcash (ZEC), has risen from $ 52 to current levels of $ 72. It indicates that in the three months, it has increased by approximately 40%. However, when you take into account the current levels of Bitcoin (BTC) around $ 7300, Bitcoin (BTC) has outperformed these coins. The advantage of these coins is that they have an actual application. Hence; the use of these coins is increasing. The question which arises is whether Zcash (ZEC) can finally outperform the likes of Bitcoin (BTC).

Upcoming resistance levels:

Currently, Zcash (ZEC) is trading around $ 71.90. In the past 24 hours, it is up by just 2.36%. However, in the last few days alone, it has risen from $ 64 all the way up to $ 78 (we had predicted this rise in our recent blog post). However, it was not able to stabilize at that level and therefore, fell once again sharply. The current resistance for Zcash (ZEC) stands at around $ 80. Only once it can cross this resistance, it can move higher again.

Till that period in time, it is very difficult for Zcash (ZEC) to outperforming the Bitcoin (BTC). Bitcoin (BTC) has risen all the way from $ 3000-$ 7300. It has touched $ 8000 as well. It clearly indicates that in this very year alone, Bitcoin (BTC) has more than doubled. Bitcoin (BTC) has done so on the back of heavy volumes. It clearly indicates that the rally might be here to stay. Even though it has fallen somewhat from the peak, but still, it offers stellar returns on a year-to-date basis.

While Zcash (ZEC) might not be able to outperform Bitcoin (BTC) soon but once Zcash (ZEC) crosses $ 80, it might move up in a swift manner which will help it rise by a significant amount to accidentally. If you’re looking to get Zcash (ZEC), it would be a good idea to keep a watch on this level and then make a decision accordingly.

About Priya 131 Articles
I am an IT engineer by qualification and like to explore the crypto and blockchain space in my free time.

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