Zcoin Price Prediction 2020 and Long Term
What is XZC?
The XZC coin is the native currency of the Zcoin ecosystem. It is a decentralized and open-source asset that focuses on privacy and anonymity. XZC crypto transactions are confidential and it is not possible to trace their history or connect a particular coin to its owner. Zcoin is meant to be a privacy extension to the Bitcoin protocol. Zcoin was founded by one of its main developers, Poramin Insom in 2016. Every coin in the system goes through a process of burning and re-minting to remove all historical traces from it. The network uses the Proof-of-Work consensus algorithm and the Merkle Tree Proof (MTP) mining algorithm.
Zcoin also has a Proof-of-Stake component. Users can create masternodes called Znodes by staking a minimum of 1,000 XZC coins. The entire masternode setup guide is explained in detail on the official website. It requires users to generate a new Znode key and deposit the coins for staking in their wallet. The Znode configuration files need to be configured according to the official documentation. The next step is selecting your VPS package and setting it up. Considering the current Zcoin price, that sum represents an investment of about $4,000. 30% of the block rewards are designated to Znode owners. XZC is a TOP 100 cryptocurrency in terms of market capitalization. By converting the average daily trading volume from XZC to BTC, we observe a value of over 1,450 worth of BTC in trades every day. The total XZC supply is similar to Bitcoin’s and amounts to 21.4 million.
What does the XZC Price Depend On?
Several factors that determine and affect the price of XZC:
- The supply, and market demand for XZC. There will only be 21.4 million XZC in existence. If the adoption increases, the demand for Zcoins can become bigger than its limited supply. The XZC USD chart will, in that case, show a positive trend for Zcoin.
- The mining difficulty of Zcoin. More miners and bigger hashrates make the mining process harder for an individual. The mined coins will thus have a bigger value.
- Listings on exchanges. When a coin gets listed on a popular exchange it usually creates a lot of public attention that results in a price spike. A boost in the value of 50% or 100% is not an uncommon occurrence.
Zcoin Price Prediction For 2020
Many market analysts predict XZC’s price movements both short-term and long-term. Having analyzed many different sources, we can conclude that the majority of predictors are bullish on Zcoin for 2020. The Zcoin price today is $4.00, with the coin suffering a 0.15% loss in the last 24 hours. TradingBeast experts have analyzed XZC and their Zcoin prediction shows a value increase of up to 17% in June 2020 compared to current prices. A valuation between $4.57 - $5.72 is expected. In the months that follow they expect that the price will drop to somewhere between $3 and $3.5, before a change in direction in the last 60 days of 2020. They expect that Zcoin will end the year valued between $5 and $5.50. A professional Zcoin Trading View analyst believes that Zcoin has positioned itself perfectly for an upward breakout of up to 70%. Similar outcomes are being anticipated by looking at the XZC ETH chart where great buy opportunities are predicted at the beginning of May.
Forecasters from Wallet Investor believe that Zcoin will lose plenty of value during 2020. They are very bearish on the coin and believe the price will drop below $0.50. However, a turnaround is expected in December following a remarkable run that could lock the price somewhere between $10 - $25.
Long Term Price Prediction for XZC
By applying a deep learning algorithm, analysts from CryptoGround have concluded that the price of XZC in 2021 can be around $7. In the years that follow, they expect astonishing gains and predict $53 in 2022, $70 in 2023, and $112 in 2025. Wallet Investor has no faith in the project in the long run. They believe the price will go above $30 during 2021 followed by a sharp fall in the next 5 years that the coin will not be able to recover from. Analysts from TradingBeast are somewhat more cautious but they believe in the potential of Zcoin. They expect the price to slowly move from $8 to $10, by 2022, and eventually reaching a high of approximately $12, by the end of 2023.
Where to buy XZC?
Zcoin has been listed on several exchanges and there is a total of 56 different trading pairs. Among the list of exchanges and exchange services, we can find BitForex, Binance, ChangeNOW, Huobi, BKEX, and many more. Before purchasing XZC, it is important to create a Zcoin wallet online or even better, use the officially recommended Core or Electron wallets. Hardware wallets such as Ledger or Trezor are excellent storage methods and both brands support Zcoin. ChangeNOW is a fast cryptocurrency exchange where users can easily and safely purchase XZC in exchange for other coins or fiat currencies. For those who want to learn how to sell Zcoin, there is a detailed guide explaining all steps. To buy Zcoin on ChangeNOW, simply enter your preferred trading pair from the drop-down menus (BTC to XZC for example). Enter how much you are willing to change and the platform will automatically calculate the exact amount you will receive. Click on the Exchange button and enter your XZC wallet address. After the confirmation of your entries, ChangeNOW will display an address where you need to deposit BTC to. Once the address has been funded the platform will release your new XZC coins and send them to your wallet.
Zcoin’s focus on privacy makes the coin a valuable acquisition as a long-term investment. Most market analysts predict a solid growth potential in the next 5 years. Zcoin is, however, not the only anonymous coin on the market. There is stiff competition. Zcoin benefits from a dynamic and skilled development team that is working on introducing state of the art technologies on time. XZC has a very modest supply of only 21 million coins. If the community realizes its potential in the next big bull run, long term investors would be left smiling. Disclaimer: This article reflects its author’s opinion only and is not financial advice. We take no responsibility for the results of any trader’s decision or action.
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