It soon may reach the level of technologies that changed the world – Internet, computer-aided teaching and electricity. These examples show that bitcoin and cryptocurrencies in general start to receive more and more support from institutional investors and, consequently, have the growth potential. The total number of assets, blocked in the DeFi ecosystem, exceeded USD 13 billion (it was less than USD 3 billion in 2019). 4: USD 318,000 from a Citibank analyst. People believe that this is a store of value. Baofeng (the so-called ‘Chinese Netflix’). Research Methodology The global cryptocurrency market is estimated to grow at a CAGR of over 7% during the forecast period. Market Forecast by Consumption: The consumption and consumption value forecasts included in this section are for the global Cryptocurrency market as well as for key regional markets. Global Cryptocurrency Market (Actual Period: 2017-2018, Forecast Period: 2019-2024)? If you refuse cookies we will remove all set cookies in our domain. The Final Report will cover the impact analysis of COVID-19 on this industry: Download Sample of This Strategic Report: https://www.kennethresearch.com/sample-request-10094852. The market bitcoin capitalization reached USD 337 billion, which exceeded the previous record of USD 328 billion in December 2017. If you do not want that we track your visit to our site you can disable tracking in your browser here: We also use different external services like Google Webfonts, Google Maps, and external Video providers. The MarketWatch News Department was not involved in the creation of this content. At the beginning of the year, the bitcoin futures price fell to the low of USD 4,210 in March 2020. We fully respect if you want to refuse cookies but to avoid asking you again and again kindly allow us to store a cookie for that. Blockchain technology exerts more and more influence on human civilization. [188 Pages Report] The cryptocurrency market size is expected to grow from USD 1.6 billion in 2021 to USD 2.2 billion by 2026, at a CAGR of 7.1%. Market Sizing, Growth, Forecast? He also mentions that the FRS interference and nearly zero interest rates, introduced for minimization of the coronavirus pandemic impact, caused the inflation surge. The Ruffer fund by itself invested USD 740 million during the past few weeks. Facebook is to launch its own cryptocurrency called Diem. No additional cost will be required to pay for limited additional research. He believes that the cryptocurrency hasn’t yet completed its upward impulse and he sets the level of USD 170,000 as the target BTC price for the year 2022. You always can block or delete cookies by changing your browser settings and force blocking all cookies on this website. Thus, a trend for the inflow of institutional investors’ money in bitcoin funds was gaining momentum during the whole 2020. Up to USD 500 million of fresh capital entered the funds at the end of December 2020, which is a record-breaking indicator. “If you look at the past results, which potentially may point to the future, a zero could be added to the price in a year or two. Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. We use cookies to let us know when you visit our websites, how you interact with us, to enrich your user experience, and to customize your relationship with our website. Remembering about the bitcoin price exponential growth in 2010 and 2011, Fitzpatrick expects that the similar movement would gain momentum in 2021. Since these providers may collect personal data like your IP address we allow you to block them here. We provide you with a list of stored cookies on your computer in our domain so you can check what we stored. It happened against the background of the, coronavirus-caused panics in the financial markets. LiteBringer is the first decentralized role playing fantasy game on the basis of Litecoin. Since the bitcoin mining benefit reduces twice every four years, supply gradually goes down. Up to USD 500 million of fresh capital entered the funds at the end of December 2020, which is a record-breaking indicator. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. The crypto needed all these years for the financial infrastructure development and adaptation in the sphere of traditional financial assets. The Galaxy Digital Director General and investor billionaire Mike Novogratz believes that the bitcoin boom in 2020 is caused by institutional support and investors, who wish to insure their capitals against devaluation of the traditional fiat money. Company Analysis - Bitmain Technologies, BitGo, NVIDIA Corporation, Ripple Networks and Coinbase, Get Complete Access of Study Report:https://www.kennethresearch.com/sample-request-10094852. The team has a big number of well-known partners, including: TRON ecosystem works as a content-sharing platform. Seventeen months later, the bitcoin price reached the record-breaking level of USD 20,000. Changes will take effect once you reload the page. Please be aware that this might heavily reduce the functionality and appearance of our site. Click to enable/disable _gat_* - Google Analytics Cookie. BTC/USD forecast No. Analysis by Type - Bitcoin, Ethereum, Ripple, Litecoin, Others, Other Report Highlights? Is there a problem with this press release? The report offers a 360-degree overview of the Cryptocurrency Services Market, primarily emphasizing on growth drivers, restraints, market … Information in this article cannot be perceived as a call for investing or buying/selling of any asset on the exchange. BTC/USD forecast No. By continuing to browse the site, you are agreeing to our use of cookies. Transparency or distributed ledger technology … COMTEX_383274125/2606/2021-03-24T03:33:28. The Cryptocurrency market has been analyzed By Region (North America, Europe, Asia Pacific and Rest of the World) and By Country (U.S, Germany and Japan) for the historical period of 2017-2018 and the forecast period of 2019-2024. People believe that this is a store of value. He believes that bitcoin would skyrocket in 2021 reaching the target of USD 318,000. A wider application and introduction is the key step for cryptocurrencies, which would allow them to unfold their full potential as an asset category and to continue positive dynamics in 2021. The Ethereum open code blockchain network always served as a preferable network for decentralized applications (dApps). “People buy bitcoins because the general number of coins cannot exceed 21 million. Bitcoin completed 2019 at the level of USD 7,000 and now it is traded above USD 17,000, having added the figure of one in the beginning of the price value; perhaps, it might add zero in the end of the price value, which would be USD 170,000”, – said McGlone. However, the most optimistic opinion was expressed by Tom Fitzpatrick, a Citibank analyst. Ripple prospects seem to be brighter than ever due to: The market capitalization of LTC is USD 5,792 billion. The 4.0 upgrade introduced confidentiality functions in smart-cards, which provides a new reason for optimism in respect of the TRX cryptocurrency forecast in 2021. offers a high reward to miners – LTC 25 per block. then it may fall again to the level of USD 16,000. but it will grow to the level higher than USD 60,000 by the end of 2021 due to its ‘network effect’ with the attraction of new buyers and reduction of bitcoin supply. “If you look at the past results, which potentially may point to the future, a zero could be added to the price in a year or two. Click to enable/disable _ga - Google Analytics Cookie. It serves as a more transparent monetization system than those that are used in traditional social networks. The platform launched the TRON 4.0 Great Voltage protocol upgrade in summer 2020. Market Sizing, Growth, Forecast? Contact the source provider Comtex at editorial@comtex.com. It soon may reach the level of technologies that changed the world – Internet, computer-aided teaching and electricity. Market Sizing, Growth, Forecast ? DeFi is believed to be one of the fast-growing tendencies in the cryptocurrency area, which may transform insurance, lending and saving programs, making them independent of banks and other centralized financial institutions.
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