The report focuses on the growth prospects, restraints, and trends of the global crtyptocurrency market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the global cryptocurrency market.
According to a recent report published by Allied Market Research, titled, “Cryptocurrency Market By Offering, Process, Type, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030”, the global cryptocurrency market size was valued at $1.49 billion in 2020, and is projected to reach $4.94 billion by 2030, growing at a CAGR of 12.8% from 2021 to 2030.
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Cryptocurrencies are a digital means of exchange and work using blockchain technology which provides means of security. There is an increase in the demand for cryptocurrency among consumers, as it is reducing the time required to transfer payment. Further, it helps remove the need of third parties in business deals, offers improved capital optimization, and provides better security measurement.
COVID-19 Impact Analysis:
The COVID-19 has affected nearly all reaches of life, including the cryptocurrency industry. Increased business uncertainty and fluctuation of Bitcoin prices which has destabilize the entire Bitcoin ecosystem.
Moreover, increasing concerns about banks’ & financial institutions ability to tackle the new market challenges in the form of revenue pressure, low profitability, tighter regulation, increasing competition, and new digital entrants are major challenging factors to the market during the pandemic situation.
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The key players profiled in the cryptocurrency market include Advanced Micro Devices Inc., Antier Solutions, BitFury Group Limited, BTL Group Ltd., Coincheck Inc., Intel Corporation, Ledger SAS, NVIDIA Corporation, Ripple, Xilinx Inc., and Xapo Holdings Limited.
These players have adopted various strategies to increase their market penetration and strengthen their position in the industry. This study includes market trends, cryptocurrency market analysis, and future estimations to determine the imminent investment pockets.
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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