Bitcoin or Zcash: Which Is the Better Buy After Zcash’s 26% Monthly Drop?
Zcash has surged over 400% in the past year while Bitcoin quietly dominates ETF flows at a scale no privacy coin can match. Before you decide which deserves a spot in your portfolio, there are some uncomfortable trade-offs worth examining.
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
With Zcash (CRYPTO:ZEC) down 23.9% over the past month and trading at $1,236 as of today, many investors are weighing Bitcoin against Zcash. They are wondering whether Bitcoin (CRYPTO:BTC), down 2.8% this month and trading at $81,858, is a better investment option.
Both cryptocurrencies faced challenges on October 22, with Bitcoin falling 3.3% and Zcash declining 7.6%. In the last 24 hours, Zcash’s price has fluctuated between $1,188 and $1,259, while Bitcoin has moved between $80,989 and $81,912.
Each coin boasts a notable price peak: Bitcoin reached $126,080 on October 6, 2025, while Zcash hit $3,192 on October 28, 2016. This raises the question: which coin is more likely to return to its previous high, and which is a better fit for different types of investors?
Zcash Needs a Far Bigger Rally Than Bitcoin to Reach Its High
Bitcoin holds the top position in the crypto market with a market value of around $1.64 trillion. With 20.1 million of its 21 million coins in circulation, it trades 35.1% below its all-time high. To reach that peak, Bitcoin would need to rise 54.0%, to a market cap of about $2.53 trillion.
On the other hand, Zcash, ranked 10th in market value at about $21.0 billion, is trading 61.3% below its all-time high. To return to its peak, Zcash would need to climb by 158.2%. However, reaching that high is more complex because of supply considerations.
Zcash set that high the week it launched, when only a small number of coins were in circulation. Currently, approximately 17.0 million ZEC are available. To match its high of $3,192, Zcash would need a valuation of about $54.3 billion, 2.6 times its current market value and more than it has ever been worth.
Zcash has seen impressive growth in the past year, surging by 400.6% and climbing 139.2% in 2026, while Bitcoin has dropped 26.2% over the same period and lost 7.2% this year.
Bitcoin ETF Flows Swung From $528 Million In to $635 Million Out
Spot Bitcoin ETFs, which hold actual Bitcoin, reflect investor interest through their daily inflows and outflows. As of October 22, U.S. spot Bitcoin ETFs had net assets of $104.7 billion and cumulative inflows of $57.3 billion.
However, investment flows shifted notably. After experiencing inflows of $526.6 million on October 19 and $528.4 million on October 21, investors withdrew $635.5 million on October 22, marking the largest single-day outflow since September 23. Despite this, cumulative inflows remained above $57 billion, suggesting that long-term investors are holding steady.
Additionally, public companies that invest in Bitcoin generally have the capacity to buy at a scale that Zcash cannot match. Bitcoin has also risen 26.3% over the past 90 days, despite recent declines.
Zcash’s NU7 Upgrade Targets a November 5 Mainnet Launch
Zcash is preparing for its next upgrade, NU7, with a mainnet launch targeted for November 5. This upgrade will reduce the time between blocks from 75 seconds to 25 seconds, allowing faster transaction confirmations. It also introduces a reserve of 60% of transaction fees, held until February 2031.
On October 4, NU7 went live on Zcash’s testnet, where coins have no market value. In the coinholder vote, 98.9% supported maintaining the existing halving schedule. However, the final decision on NU7’s activation is still pending.
So far, exchanges, wallets, and funds have not announced any plans related to the NU7 upgrade. Additionally, the fee reserve system mainly delays when those coins reach miners since the total supply of ZEC remains capped at 21 million.
Bitcoin or Zcash: Which Is the Better Buy?
For most investors, Bitcoin is likely the better choice because it offers a more stable risk-reward profile. Although neither cryptocurrency appears poised to regain its previous highs by the end of 2026, Bitcoin had $24.8 billion in 24-hour trading volume, compared with Zcash’s $806 million.
This larger volume enables Bitcoin to absorb substantial sell orders with less dramatic price swings, which helps explain why Zcash fell 7.6% on October 22 while Bitcoin fell 3.3%.
Investors drawn to Zcash should be prepared for the volatility that comes with accepting a 23.9% monthly drop while potentially enjoying a 400.6% annual increase. For Zcash, a key milestone will be successfully activating the NU7 upgrade on November 5, followed by a close back above $1,498, its September 23 price. Conversely, Bitcoin’s crucial test will involve moving above $84,378 while cumulative ETF inflows surpass $58.0 billion.
Contact [email protected] for any questions or corrections.
Sam Daodu is a crypto analyst and the editor of 24/7 Wall St.'s Crypto Desk, where he covers Bitcoin, XRP, Ethereum, Solana and the altcoins investors search for most. His work focuses on price levels, spot ETF flows, on-chain data and the regulatory decisions that move crypto markets, written so a first-time buyer and a seasoned trader can both use it.
Sam has written about crypto professionally since 2019 and has published more than 2,000 articles. Before joining 24/7 Wall St., he wrote for crypto media outlets and Web3 companies and ghostwrote for crypto founders and token launches. His analysis is syndicated on Yahoo Finance, MSN and AOL and has been cited by other crypto news sites. He also founded MacLabs Marketing, a content and personal branding agency for crypto founders and executives.
When he isn't reading charts, Sam is usually at the gym or watching One Piece, a series he maintains has better tokenomics than most altcoins.
