Cryptocurrency market size to grow by USD 1.47 billion, Bitcoin segment is the largest revenue generating type segment

NEW YORK, 24 October 2022 /PRNewswire/ — The cryptocurrency market share growth i bitcoin the segment will be significant in the forecast period. Bitcoin is a digital currency that can be transferred peer-to-peer (P2P) without central authorities. It is created, stored, processed and shared using a distributed decentralized system known as the blockchain. The public ledger records everything bitcoin transactions, and copies are stored on all servers worldwide. Therefore, with the increasing popularity of bitcointhe market is expected to witness significant growth during the forecast period.

«Cryptocurrency Market by Type (Bitcoin, Ethereumand others) and geography (North America, EuropeAPAC, South Americaand Middle East and Africa) – Forecast and analysis 2022-2026” report has been added to Technavio’s offering. The potential growth difference for cryptocurrency market size between 2021 and 2026 is 1 USD.47 billion. To get accurate CAGR and YOY growth rate, purchase the full report

Market Segmentation:

47% of the market’s growth will come from North America in the forecast period. The US is the key market for cryptocurrency market i North America. The increase in blockchain investment will ease cryptocurrency the market’s growth i North America over the forecast period.

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Important market dynamics:

• Market driver – Increasing investment in digital assets is one of the key energizing drivers cryptocurrency market growth. Digital assets allow quick transfer of ownership without the need for paper copies or any paperwork. For example, the owner of a digital asset can quickly transfer ownership to a new owner or buyer when the asset is purchased through NFT. Cryptocurrencies are becoming more popular in the global digital asset market as a result of these characteristics. So many people interact with digital assets every day, from investing in crypto as a digital resource to digitize its existing investment funds, digital assets have been integrated into the existing network of traditional financial markets. Therefore, the increasing investment in digital assets is expected to boost the growth of the market during the forecast period.

• Market challenges – Interest rate volatility is one of the limiting factors cryptocurrency market growth. Crypto miners perform calculations using mining hardware solutions to mine cryptocurrencies such as Bitcoin. The valuation of cryptocurrencies depends significantly on their uniqueness and the perceptions of related owners and buyers, as well as the availability of distribution channels. Therefore, it is extremely difficult for a new seller to predict the identity of the next one cryptocurrency buyer or possible factors that may favor or influence the purchase. Therefore the price is on cryptocurrency basically depends on how buyers perceive the value, which leads to fluctuations. Thus, fluctuating prices can hinder market growth in the forecast period.

The story continues

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Table of contents:

1 Summary

2 Market landscape

3 Market size

4 Analysis of five forces

5 Market segmentation by type

6 Customer landscape

7 Geographical landscape

8 drivers, challenges and trends

9 Supplier landscape

10 Supplier analysis

11 Appendix

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