- ZEC/USD market still trades around the same range zones that it has been maintained overly.
- The pair seems getting set to experience the same trade scenario that took place between February 18 and 24 while the market got a slight drop.
ZEC/USD Long-term Trend – Ranging
- Distribution territories: $65, $70, $75
- Accumulation territories: $45, $40, $35
The market worth of ZEC/USD still moves around the same range zones that it has been maintained overly. The US dollar appears not having the strength to press down the crypto’s trend southwards past its current range spot.
The market has touched $55 market point, and now, it has continued to hover around it. The two trading SMA indicators are yet conjoined together tightly at $50 mark. The Stochastic Oscillators have now penetrated into the overbought zone, and they seemingly point north-east. That could mean a signal against the expectation of seeing more probable trade uprising.
The trade now looks like getting set to create another market pace that could eventually give birth to what was obtained between February 18 and 24 while the market got a slight drop. However, the crypto-trade is as well found in more response to its current market choppy movements than been going either bearish or bullish in the near trading sessions.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
Zcash Price Analysis: Zcash (ZEC) Records 5% Downtrend Within A Day Falling Below $50
- Zcash may go as low as $48 before climbing back up
- Zcash may record better growth in the next few months
It has been a roller coaster ride for Zcash token holders since the past few days. After reaching up to $124 in the last 90 days, the coin has had a steep fall and now trading below $50. The traders, however, anticipate growth from this token in the next couple of months. The current market performance may change towards a positive side very soon.
Zcash Price Statistics:
In the last one day, Zcash has shown a downtrend of over 5% dipping from $51.90 to its current value at $48.83 as on August 22, 2019, at 02:39:10 UTC. The coin started today on a slightly better note trading at $49.97 but very soon tumbled down to trade below this value. It may further go as low as $48 before surging upwards again.
- The price of ZEC is noted to be $48.83 and 0.00494350 BTC
- The market cap is now $351,565,000
- The 24 h volume is $167,647,243
- The ROI of the coin has reached -98.86%
- The circulating supply of the coin is noted to be 7,243,519 ZEC
The token is currently trading below yesterday’s closing value at $49.87, but it may close on a higher note by trading around $49.90.
Zcash Price Prediction and Conclusion:
The all-time high value of Zcash is noted at $5941, and it is a very big target for the coin which does not seem to be crossed this year. But, the coin may start trading at around it’s 90-day high value by the end of the year.
It is a good time to plan long term investments in the token and save for future benefits
Insider Reveals Why Coinbase UK Abruptly Delisted Zcash: Report
New details on why Coinbase UK suddenly delisted the privacy-centered cryptocurrency Zcash are emerging.
Rumors that Coinbase UK is delisting Zcash first surfaced a week ago. The Electric Coin Company, which is the firm behind Zcash, then released a statement confirming the coin’s delisting while also stating that the crypto asset is fully compliant with regulators in the UK. According to the company, no other exchanges listing Zcash will be affected.
“[To] those affected by Coinbase UK issues: This is limited to Coinbase UK only. UK residents can still buy/sell Zcash through CEX.IO. No other exchanges in the UK are affected. To pre-empt speculation, we confirm that Zcash is 100% compatible with UK regulations & KYC/AML requirements.”
Now, a “person familiar with the decision” tells CoinDesk it’s directly connected to the crypto exchange’s recent change of banks from Barclays to ClearBank. According to the source, Clearbank was “uncomfortable indirectly supporting a currency with features that make law enforcement’s job harder.”
Barclays first started providing banking services for Barclays last March when the San Francisco-based exchange began expanding its operations in Europe.
The exchange is fully regulated in the UK, and earned an e-money license from the country’s Financial Conduct Authority in May of 2018.
Zcash investors on Coinbase UK have until August 26th to withdraw their holdings or convert it to another crypto asset. If they don’t meet the deadline, users will have their Zcash automatically converted to British pounds.
Coinbase Pro first began supporting Zcash in November of 2018. At the time, the company addressed how it would handle the coin’s anonymous transfer features.
“Initially, we will support deposits from both transparent and shielded addresses, but only support withdrawals to transparent addresses. In the future, we’ll explore support for withdrawals to shielded addresses in locations where it complies with local laws.”
Last May, New York-based Gemini, a fully regulated cryptocurrency exchange, became the first licensed trading platform to support Zcash.
Why Zcash Was Dumped By Coinbase UK
Users of Coinbase in the UK continue to hear bad news. This one is specifically going out to the holders of Zcash. This rumour started to float around this week when the cryptocurrency was all of a sudden dropped by the US giant.
Coinbase and the UK Banking giant Barclays recently ended their relationship and now Coinbase is now banking with ClearBank who allegedly demanded that Zcash was to be delisted.
The Editorial Director for the American Institute for Economic Research, Jeffrey Tucker commented on the split and suggested that it might portend more ‘headwinds’ for the USexchange than for Zcash itself.
“Another solution for moving from Coinbase crypto to cash and back again will emerge. At the same time, it is not getting easier for crypto banking institutions like Coinbase. It is getting harder. Keep in mind that Coinbase is a financial intermediary itself, of the very type that crypto was supposed to make unnecessary.”
“There is a growing consensus that traditional Bitcoin, which enjoys a 65% market domination, is not suitable as a means of exchange. Other tokens might benefit from this shift. But the market is extremely crowded and will continue to shake itself out in the coming years.”
Tedra Desue writes for CCN that Zcash is embraced by holders due to its optional privacy features. But the ‘anonymous’ token has concerns surrounding it about it not-passing regulatory muster in the UK.
Holders of Zcash in the UK now have until 26th August to convert their holdings into any othercryptocurrency or run the risk of having them forcibly converted into British sterling.
Currently priced at $50 following an 8.29 percent change in value, Zcash is in the red, much like the rest of the market.