Zcash Soars After Bitcoin Skyrocketed. Is There A Correlation Between These Coins?


BITCOIN

Bitcoin has assumed its bull run for some time now, with the coin having soared past the $50,000 price barrier. It is now commonplace to hear conversations about the unprecedented growth of this pioneering coin—even among people who have no stakes at all. 

Surely, this strong run of growth has affected Zcash, but is this positive or negative? Let’s see!

Bitcoin Price Analysis

Price News

February’s Growth

In February, Bitcoin grew astronomically. It was a growth never seen before, with the coin growing a whopping 5% at a time. In fact, this brought its year-to-date gain to 74% and its price to over $50,000. 

Dropping Down

Following its growth, BTC experienced a fall from around $50,000 to a price in the range of $40,000-$48,000.

Rebounding

Never one to remain low, BTC has built upon its decline to surge even higher than before. The coin, today (15.03.21), is worth $55,000+.

BTC Price Predictions

According to experts, the bullish run of BTC is not ending soon. There are strong suggestions that the coin may grow up to $70,000+ very soon. 

The growth is predicted to continue through 2021. There are strong beliefs that BTC will be worth over $180 000 by the end of 2021. This is difficult to argue, considering the trend the coin has followed.

Relationship Between Zcash and Bitcoin

The growth in the price of Bitcoin has led to a positive impact on the overall crypto industry. Coins are becoming more accepted, and with this comes higher prices. This is obvious in the upward projections of major competitors, such as Litecoin and Ethereum.

For a closely related coin like Zcash, you can expect that there can only be good news. For example, Zcash was worth $124 at the end of February, but it now goes for $150+. This has led experts to suggest that the costlier that BTC gets, the costlier Zcash becomes too (all variables remaining the same).

How to Buy Zcash

Buying Zcash may be a wise decision as BTC doesn’t offer that much privacy. And the forecasts are favorable.

Zcash can be bought on certified decentralized services. Godex.io, for example, prioritizes user privacy and ensures transactions are prompt and easy.

Step-by-Step Guide to Buying Zcash 

This process should only take a couple of minutes:

  • Select the coin to be exchanged on the homepage (Zcash in this case);
  • Ascertain the value;
  • Make your deposit; and
  • Withdraw your Zcash to your preferred wallet.

You can always check the current rates on this BTC to ZEC calculator

Summary

The impressive recent run of BTC has done the entire cryptocurrency world good. Several coins have grown alongside the giant, and forecasts still look favorable. Zcash is closely related to BTC, so it has also risen. There are further positive expectations on the coin. 

You can buy to hold now on trusted platforms, such as Godex.io.