Zcash (ZEC) continues to show no signs of slowing down, breaking above $180 in October after a brief correction. Despite gaining more than 400% since August, many analysts believe the rally is only getting started.
What are their reasons? And what price range might be realistic for this privacy coin? This article breaks it down.
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ZEC Returns to $180 — And Why This Might Be Just the Beginning
The bullish narrative for Zcash (ZEC) began when Grayscale, one of the world’s largest crypto investment firms, actively promoted its Zcash Trust (ZCSH). The fund emphasized that ZEC offers Bitcoin-like security with a superior layer of privacy.
However, in October, discussions around ZEC have gone even further. Investors are not satisfied with the recent rally and expect much higher targets.
Bullish arguments for ZEC share a common belief: privacy is not just a “meta trend,” but the original foundation of the crypto movement. The rise in Zcash’s price is viewed not as the cause but as a consequence of a “reawakening” to crypto’s core values.
This reawakening could attract significant capital inflows into Zcash, increasing ZEC prices.
Thor Torrens, an advisor to the Zcash project and a former US presidential staffer, shared an ambitious scenario: if just 10% of offshore wealth moved into Zcash, each ZEC could be worth $62,893.
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“Friendly reminder that the Grayscale thesis is still in play. If just 10% of offshore wealth goes into Zcash, one ZEC can be worth $62,893 a coin,” Thor Torrens said.
Beyond the privacy narrative, analysts also highlight Zcash’s long-term potential, which is driven by zk-SNARKs technology, which enables fully anonymous transactions.
Others draw parallels between ZEC and Bitcoin, especially regarding their halving events. Zcash went through its second halving in November last year and has since entered a price discovery phase. Some analysts predict ZEC could surge to $20,000, mirroring Bitcoin’s historical trajectory.
“Bitcoin and Zcash both have the same fair, front-loaded emission curve, where it’s just miners dumping for the first eight years. Even Bitcoin couldn’t sustain a price above $1,000 until its second halving — after which it skyrocketed to $20,000,” analyst Arjun Khemani, said.
Even the most conservative forecasts are still far above ZEC’s current price of around $178.
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“Zcash is now going to $1,000 by the way,” market analyst Tyler predicted.
Whether $1,000, $20,000, or $60,000 is achievable remains uncertain. Yet, ZEC has been one of Grayscale’s most heavily accumulated altcoins for years. Privacy on the blockchain remains a lasting theme, and many investors still view Zcash as a second chance at Bitcoin.
How Are Zcash Investors Overlooking the Risks?
Not everyone shares the same optimism. Market analyst Maartunn provided a historical perspective: every major ZEC rally often coincides with market tops.
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“ZCash (ZEC) pumps are usually a red flag for Bitcoin. Historically, these altcoin surges tend to happen near local and cycle tops,” Maartunn said.
Meanwhile, the positive buzz around Zcash has overshadowed serious regulatory concerns about privacy coins. These concerns have already led Monero (XMR) to be delisted from several exchanges and face intense selling pressure.
In May, the European Union passed new anti–money laundering (AML) regulations. The policy includes a plan to ban privacy tokens and anonymous crypto accounts starting in 2027, applying to financial institutions and digital asset service providers.
Other regions have taken similar actions. In 2023, Dubai’s government banned the issuance of privacy-focused cryptocurrencies such as Zcash (ZEC) and Monero (XMR). Japan prohibited privacy coins in 2018, followed by South Korea in 2021.
Investors may now need to consider key risks. Will other governments tighten regulations on ZEC? Could ZEC’s anonymity be exploited for illicit activities?
For now, these questions seem ignored amid October’s bullish sentiment. However, any regulatory announcement or enforcement action could quickly shift ZEC’s market trend and trader sentiment.
