Cryptocurrency Market - Size, Share, Opportunity Analysis, and Industry Forecast till 2025
Cryptocurrency market can be subtly defined as the value of the digital entries in a database that cannot be changed without the fulfillment of the specific defined conditions. It was designed by Satoshi and quoted as a peer-to-peer electronic cash system, which was further realized as an exchange medium that can be electronically created and stored in the blockchain using cryptography to control the creation of additional units. Owing to its limited supply and the potential as an alternative to conventional currency, the technology has gained considerable interests, and is projected to witness CAGR of 56.2% over the forecast period (2017-2025). Request Sample Copy of Research Report @ Market Dynamics Prominent drivers fueling cryptocurrency market growth include the enhanced security through distributed control and utilization of block chain, mainly owing to the limited supply and the growing requirement of intensive infrastructure to mine new units. However, growing number of illegal activities owing to decentralized control, lack of regulatory bodies to efficiently track the transactions, are among the prominent drawbacks of the market growth. Moreover, high volatility of the value over the past few months, outright ban in the countries such as Bangladesh, Thailand, Kyrgyzstan, and Ecuador, are expected to hinder the market growth over the forecast period. Growing popularity of the digital assets is expected to drive the government bodies of major global economies to establish regulatory framework, which would in turn, expected to drive the cryptocurrency market growth across the globe.