Upcoming Upgrade Could Give ZCash a Boost

Upcoming Upgrade Could Give ZCash a Boost

ZCash (ZEC) is one of the most important privacy coin in the Cryptocurrency market. Its biggest strength within the private market comes from the actual fact that its wide acceptance in mainstream circles. companies like JP Morgan use ZCash ZEC for its privacy features. Coinbase a mainstream exchange plans on listing ZCash adding to its influence because of the privacy coins for institutional investors. However, this aspect to ZEC is of no much use currently that the market is deep in the grips of the crypto bear. What could give ZCash a boost in the short-run is the upcoming network upgrade which will happen on the 28th of Oct."Upcoming Upgrade Could Give ZCash a Boost"

According to the ZCash team, this upgrade can improve ZCash in 2 ways. the first one is that it'll make ZEC transactions faster. after the upgrade, ZCash ZEC will use new shielded addresses key that will lead to a more than 97-times reduction in ZCash transactions. this can be a big deal and will create FOMO around ZCash as the upgrade date approaches.

The second aspect of the upgrade is that it'll improve on the monetary auditing aspect of ZCash (ZEC). this will ensure that all the ZCash in circulation is known to all, and can be verified. the idea behind is} to avoid a situation where ZCash coins can be counterfeited, inflating the number of coins, and hurting its price. given that scarcity is part of what gives ZCash value, this upgrade will be a major boost to the value of ZCash in the long-term. but even in the short-term market, as this date approaches, ZCash ZEC could experience lots of FOMO and boost up the price.

With the chance of ZCash FOMO coming up in Oct, current prices offer a good entry point for investors in ZCash. That’s as a result of prices are currently depressed, that makes it a low risk buy, as volatility has declined too. FOMO buying could easily give ZCash ZEC a 30 -50% jump in price from the current price. this will be driven by the fact that investors are at now desperate for gains, and any crypto that gives any hope for gains at this point draws in investors in the long-run. this will be seen in the way Dogecoin (DOGE) has pumped after the Dogethereum news. Investors have bought into doge out of the fear of missing out on the dogethereum and it's pushed up Doge by over 150th in the last few weeks.'Upcoming Upgrade Could Give ZCash a Boost'

But even past the network upgrade date, ZCash (ZEC) continues to be a good crypto to hold. The privacy coins is one of the high potential sides of cryptocurrency. That’s because people can always have a need to hide their wealth, and privacy coins offer the perfect method for doing so, minus the bureaucracies of offshore destinations. As such, for a privacy coin with a level of acceptance as high as ZCash (ZEC), long-term price growth is pretty much guaranteed. A $1000 ZCash (ZEC) is very possible in the future.

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