BitcoinZ price prediction: Can principles and profit coexist?

BitcoinZ has a leaderless structure and egalitarian mining distribution

BitcoinZ logo against background of colourful code – Photo: Shutterstock                                 
BitcoinZ shares similar privacy protocols to Zcash – Photo: Shutterstock
                                

Contents

What is BitcoinZ?

BitcoinZ is a community-driven cryptocurrency that launched its genesis block in September 2017. With no central ownership structure or CEO, the BitcoinZ blockchain relies on volunteer development teams and the dedicated ‘ArmyZ’ user community.

Although restructured from the ground up, BitcoinZ was developed using aspects of ZCash code. Consequently, the native BTCZ coin shares a similar privacy feature. Through zero-knowledge proof technology, BTCZ allows for anonymous transactional activity.

Like bitcoin (BTC), BTCZ is mined through the proof-of-work (PoW) mining method. However, true to its motto “In decentralisation we trust”, BTCZ incorporates an algorithm that disincentivises overpowered mining rigs in favour of a fairer distribution of mining rewards.

BitcoinZ recently launched its own decentralised exchange, BITCOINZ-DEX, which allows for P2P trades through user-generated liquidity pools.

For a more extensive rundown of all the interesting aspects of this community-driven crypto project, be sure to check out our comprehensive guide.

Some quick tokenomics

Let’s have a quick look at some key figures before moving into the bitcoinZ crypto price prediction. BTCZ recently hit a trading high of $0.00035. The circulating supply of 10.69 billion is slightly over 50% of the immutable 21 billion total, according to CoinMarketCap. Market capitalisation is $3.77m, placing it down the crypto charts at number 1,392. 

BTCZ had some good trading volume news recently. On 11 December it achieved an all-time high trading volume of $500,000, which also served as a psychological landmark. Better still, on 22 December, the coin reached a 24-hour volume of $700,000.

BitcoinZ never performed an initial coin offering (ICO) or pre-mine. All coins are generated through PoW community mining, with a small reserve set aside for community rewards programmes. As a deflationary precaution, mining rewards are halved every four years, with the fist halving having taken place on 31 October.

BTCZ also has no whales, or large coin holders: coin distribution is highly decentralised, with the top 25 wallets holding only 27.2% of maximum supply, according to the explorer.

BitcoinZ’s decision to go for a high coin count served as a hedge against non-integer pricing formats down the line.

Latest trading activity

Being a very niche coin (at least for the moment), any bitcoinZ coin price prediction is constrained by minimal available chart metrics.

But we can make some educated guesses through recent developments. First, the 31 October halving was a boon to the BTCZ price prediction, as it shot up 57% on a month-to-date basis.

Furthermore, impressive trading activity at 0.2% of market cap shows relatively high engagement in BTCZ coin.

BTCZ rode the early-2021 crypto wave as well as any other altcoin, peaking at $0.0045 on 3 May. Keeping in mind an extremely low pricing floor, that made for year-on-year gains of more than 5,500%. Despite the subsequent correction, BTCZ is still trading at five times above its year-on-year value.

It is currently only available on a range of niche exchanges, and investors will want to keep an eye on some fundamental catalysts. If BTCZ is able to secure major exchange listings, we can expect gains to follow.

You need to thoroughly research the BitcoinZ project, which is highly transparent in providing information. There are certainly some exciting aspects to the project, but do bear in mind that cryptocurrencies, particularly extremely low-cap coins, can be subject to extreme price volatility. Never invest more than you can afford to lose.

Forecaster opinions

Trading Beasts has a bitcoinZ price prediction for 2022 of $0.0005, escalating to $0.0007 by the close of 2024. These predictions paint only a very modest return for BTCZ investors.

The bitcoinZ price prediction at Wallet Investor is a bit more bullish, giving a 12-month price target of $0.0009. The forecaster’s bitcoinZ price prediction for 2025 estimates just shy of a six-times return.

For a bitcoinZ price prediction for 2030, Cryptopolitan believes that BTCZ can hit the $0.1 target, giving “investors an excellent opportunity to invest” in the long run.

At Digitalcoin, the forecaster’s target bitcoinZ price prediction starts at $0.0005 for the coming 2022 period, staying fairly close at $0.0007 until 2025. A total of 15 forecasters propose a sell strategy, 11 are neutral and none recommend buying at current prices.

BitcoinZ is a unique digital currency with egalitarian principles baked into its tokenomics and roadmap. It is recommended to research the project to determine whether it is the right investment for you.

Remember: Currency.com is not your financial advisor. Any information in this article should be used for educational purposes only. Please conduct your own due diligence before placing any money on an investment. And never invest more than you can afford to lose.

FAQs

Is bitcoinZ a good investment?

BitcoinZ could be a good investment for the right person. With a community-driven approach, bitcoinZ users are more than purely profit-motivated. Please conduct your own research if you are considering an investment.

Will bitcoinZ go up?

Forecasters’ BTCZ price prediction data suggests that it will go up in modest amounts. Bear in mind that forecasters use algorithms to determine price projections. These should be used as a guide only, not as financial advice.

Should I invest in bitcoinZ?

That is your choice. It is highly recommended to do your own research on the BitcoinZ project first. This article should be used for informational purposes, not as financial advice.

Further reading

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
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