Zcash and other cryptocurrencies have been at the forefront of financial media headlines in recent months. These cryptocurrencies could potentially represent the newest way to facilitate everyday transactions, and there is simply no telling just how high prices for these currencies could get. Zcash, like other currencies, offers consumers a convenient, fast and low-cost way to make and receive payments anywhere on the globe.
These currencies have only been around for a few years now, but they are already accepted by some merchants as a form of payment. With all of the potential benefits of these currencies, their use could potentially see exponential growth in the years and decades ahead.
Zcash was launched in 2016 and for a period of time was valued at less than $50 per unit. In the spring of 2017, however, the bulls began to get active and prices began to climb. By June of 2017, the price of the currency had reached almost $400 as investors became increasingly interested in cryptocurrencies. That first rally proved to be fairly short-lived, however, as prices then sank to a low of under $200 the following month.
After a couple shallow rallies and insignificant dips, the currency once again began to ascend in the later months of 2017. This rally led to an all-time high of almost $668 being reached at the beginning of 2018. These higher values once again proved to be unsustainable, however, and the currency began to trend lower, eventually falling below the $200 level once again in July, 2018.
Whether you are interested in actively trading Zcash or want to invest for the long-term, price charts can be an extremely useful guide for making investment decisions. Price charts may be used to spot trends in the price of the currency and may be useful for determining entry and exit points. Charts can also be useful for identifying overbought or oversold market conditions.
As cryptocurrencies become increasingly popular among investors and consumers, there is no telling how high prices could get. Due to the convenience and low-cost of using such currencies, demand could potentially see a much more significant rise and the supply/demand equation could potentially tilt heavily in favor of higher values.
Zcash and other cryptocurrency markets have shown-and may continue to show-a large degree of price volatility. That being said, prices are not likely to go straight up or straight down. If the longer-term trend points to higher prices, then investors may utilize price charts to spot potential support areas to buy at on any significant dips.
Zcash price charts are available in numerous time frames. These time frames may be as short as a single minute of price action to as long as weekly, monthly or even yearly charts. Short-term traders may focus on the smaller time frames, while long-term investors are likely to be more focused on the larger time frames.
Charts provide a simple, graphical depiction of price action in a market. Although charts cannot tell an investor where the market is going, they can potentially provide some solid clues as to where prices may be headed, and where prices may find support and resistance.