Bitcoin Worth $19.48 Billion in 2016

The report titled “Global Cryptocurrency Market (Bitcoin, Ripple, Litecoin, Ethereum)- Insights and Analysis: Technology, Sizing, Growth and Potential – (By Value, By Transaction Volume, Bitcoin ATMs, Company Analysis)” suggests that the cryptocurrencies have a huge potential in disrupting the Financial Technologies space and bring about revolution in the way currencies and payment systems will work out in the coming years. The Global Cryptocurrency Market has been driven by widespread speculation amongst the investor community. The increasing acceptance of the cryptocurrencies and new payment mechanisms by prominent organizations as well as local players has influenced the faith in this new disruptive technology.

The Global Cryptocurrency market has witnessed undulating growth in the period but has seen substantial growth in terms of trade volume. The market is led by Bitcoin, however competing currencies have emerged in the global scenario which have been built upon the blockchain technology first introduced by bitcoin but have been equally innovative.

The market was estimated to be USD 19.481 billion for Bitcoin alone. The other currencies however have substantially lesser value than that of Bitcoin. The market is further expected to grow in value as well as volume and also see widespread use of cryptocurrency amongst the general populace.  The market remains largely unregulated; however regulation of cryptocurrency exchange is seeing the light of the day.

The market was dominated by players like Bitstamp, OKCoin, Bitfinex, Coinbase and Poloniex according to this research. The present report  fulfils the objective of the research which is to present the insights into the cryptocurrency market, analysis of market data and the historical growth (2011-2015) of the global cryptocurrency market by various segments (Bitcoin, Ripple, Litecoin, Ethereum). Historical market growth of cryptocurrency (Bitcoin, Ripple, Litecoin, Ethereum) has been figured out through secondary research (premium paid databases) and confirmed by industry participants. Future projections and dynamics of the crptocurrency market (Bitcoin, Ripple, Litecoin, Ethereum) have been analyzed by conducting extensive primary research and interviewing experts from the industry.

Author: Dylan Jones

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