The recent news coming from the U.S. government is not being warmly welcomed by crypto investors. In what many see as an onslaught against crypto’s regulation-free community, the Treasury Department is looking for transaction transparency. Privacy blockchains like Horizen (CCC:ZEN-USD) are now coming to the front of the pack as investors look to keep their transactions private. Horizen (ZEN) price predictions reflect a belief that this will bolster the coin’s value.
So what do you need to know now? And where will Horizen head by the end of the year?
To start, President Joe Biden apparently wants to get ahold of the digital currency reins. A new proposal from the Treasury recommends requiring large transactions of crypto between businesses, exchanges and custodians to be reported to the IRS. This is obviously upsetting to blockchain users; keeping crypto and government separate is a priority of DeFi advocates.
Analysts already think a shift in interest is occurring. Digital Currency Group CEO Barry Silbert said in April that privacy will become an increasing interest in the crypto world this year. The prescient take is looking quite accurate, thanks to the recent news. He mentions blockchains that offer more private transactions, and he specifically names Horizen, a coin that is soaring after the Treasury proposal as investors’ privacy concerns grow.
Horizen seeks to subvert the intrusion of outside eyes with its sidechain private data scaling. The platform allows businesses to build private chains for transactions, an appealing tech for those looking to keep their crypto assets away from prying eyes. ZEN is seeing a 27% gain today as crypto fans look toward private tech. The coin is currently exchanging for $104.13.
Horizen (ZEN) Price Predictions Turn Hot Amid Privacy Concerns
Horizen offers a product that’s only going to be more desirable as these attempts to regulate crypto ramp up. As such, predictions are very bullish on ZEN. Let’s take a look:
- DigitalCoinPrice predicts ZEN prices will rise to $153 by the end of 2021.
- WalletInvestor forecasts that ZEN will near $200 in the near future. Their 12-month forecast is calling for a $195 value.
- Cryptocurrency Price Prediction sees massive gains for ZEN throughout the year. As privacy concerns ramp up, they think Horizen will see multi-hundred dollar boosts through the summer. By the end of the year, they believe ZEN will reach $554.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
