Bitcoin (BTC) is having a stellar year. From lows of $3100 in late 2018, it has tested highs of $13100 in the last few hours. However, altcoins haven’t followed it, as many had expected. If anything, altcoins have continued to bleed in 2019, just like they did in 2018.
For someone with heavy bags, this scenario doesn’t feel good. However, this is actually a good time to accumulate good altcoins. Savvy investors know that the best time to buy is when there is blood on the streets, and altcoins are bleeding at the moment. All one has to do is identify high-quality altcoins and invest, before alt season kicks in. One altcoin that has lots of potential, in the long run, is Zcash (ZEC).
Like the majority of altcoins, Zcash (ZEC), has been on a decline since early 2018, and the recent Bitcoin (BTC) rally hasn’t helped it much. However, it has lots of improvements (implemented and upcoming) that could see the value of this altcoins shoot up in the future. One of them is the development of a light client protocol. Before this protocol was built, the only way to send a shielded transaction on Zcash was through the Zcash client. This was limiting because it required one to run a full node, which is not feasible for most people. However, this is changing as the Zcash developer team recently completed work on the light client protocol that will reduce block sizes. This makes it possible for anyone to send shielded transactions, from most devices that people use on an everyday basis. In the long run, this will boost Zcash private transactions by a huge margin. It’s a factor that could help Zcash outperform the market, once altcoins start to rally. Other upcoming developments that add to the intrinsic value of this crypto include harmony mining that will make it impossible for ASIC manufacturers to make Zcash specific miners, among others.
Then there is the fact that, Zcash is one of the best in anonymizing transactions. In a market full of privacy coins, ZEC’s Zero-Knowledge Proof protocol remains the undisputed king. Given that people will always have a need to send money anonymously, this crypto’s tech strength on this front gives it significant leverage over the rest. This means that once altcoins start to rally, it could be one of those that could draw the most volumes, and this could drive up its value significantly.