Global Cryptocurrency and Bitcoin Market is Boosted by Rising Acceptance, Surging Investment by Venture Capitalists, Highly Volatile Value of Cryptocurrency: Ken Research

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Dec 07, 2017, 06:06 ET

GURUGRAM, India, December 7, 2017 /PRNewswire/ --

Global cryptocurrency market by market cap of major players, Global bitcoin market by revenue, by bitcoin circulation and revenue from mining, segment (by volume of trade in exchanges, by use of bitcoin, mining facilities around the globe), Global bitcoin mining market (by type of mining, exchanges, matrix for bitcoin mining pool and type of payment methods) and Competitive landscape of major mining pools including AntPool, F2Pool, BitFury, BTCC Pool, BW.com, ViaBTC, SlushPool, HaoBTC, BTC.com and 1Hash.

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Global Cryptocurrency and Bitcoin market value has augmented positively, majorly owing to increasing acceptance of cryptocurrency by merchants and shopkeepers. Users majorly witness cryptocurrency as a lucrative form of investment which has aided market growth over the years.
Global Bitcoin market is majorly propelled on account of highly volatile price which is attracting new users and is backed up with low transaction cost and instant transfer at a very minimal fee.

A cryptocurrency is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency. The prominence and popularity of crypto currency technology quickly spread through the general public as means to store and to transfer wealth, as well as engage in secure e-commerce. Growth in the crypto currency market has been driven largely by venture capitalists investing in technology infrastructure, and other investors seeking to profit from price fluctuations, rather than by consumers actually using crypto currency. Venture capitalists with formidable experience investing in the technology sector have been pouring capital into the market, expecting that consumer demand will drive future growth of this market, resulting in huge market growth.

Increasing investment in cryptocurrency has positive correlation with increasing revenues of global bitcoin and cryptocurrency market. Awareness about cryptocurrency continues to grow as governments are forming regulations regarding the usage of cryptocurrency. Minimal transaction fees and almost instant transfer has aided the overall bitcoin market growth over the years. The blockchain technology used in mining bitcoins has increased prominence over the years which have increased the interest of users in the bitcoin market.

Increasing global retail e-commerce, increasing price of bitcoin and bitcoin block rewards are some other key factors that may have positive impact on the market creating additional and replacement demand in the future, according to the Analyst at Ken Research.

Ken Research in its latest study, Global Cryptocurrency Market by Market Capitalization of Major Cryptocurrencies (Bitcoin, Ethereum, Bitcoin Cash, Ripple, Dash, Litecoin, Monero, NEM and Others), by Mining Facilities and by Use of Bitcoin - Outlook to 2022, suggested that demand for cryptocurrency in the market will grow manifold in the future years albeit with restrictive government policies to consider the digital currencies as a legal tender. The digital currency market has crossed the all time high of USD 300 billion in terms market cap as of December 2017.

Key Topics Covered in the Report: