Cryptocurrency Marketing Analysis on the basis of Demand, Growth Rate- 2020- 2025
Cryptocurrencies continue drawing the attention from entrepreneurs, investors, regulators and common public. The recent discussion or debate around cryptocurrency triggered because of substantial change it market demand, growth rate and price. Cryptocurrency is a digital asset that is designed to work as an exchange, using the concept of cryptography. Ever since 2017 Crypto Bull Run, digital assets have turned out to be a hot property. Some of the best Crypto Exchange Australia platforms are seeing massive signups. Also acceptance of digital currency around the world as secure and hassle-free trading option is creating a huge impact on its growth.
Market Dynamics
The crypto market is only a decade old but it has created a buzz across financial world. Factors such as low cost, advanced features, safety and quicker transactions are influencing crypto market growth. Regulator perception and new laws towards decentralized nature of cryptocurrency is adding as a fuel to this new sector. Add to it the growing investment across Blockchain technology. Global acceptance of popular digital currencies such as Bitcoin, Litecoin and Ether is further accelerating the crypto market growth. The need of the hour is advanced financial system with state-of-the-art technology and safe transaction, crypto comes with both these features hence growth is expected.
With the advancement of technology, virtual currencies are becoming hugely popular. Though initially virtual currencies were limited to gaming and social economies, its reach has increased massively in last few years. In the last decade virtual currencies have developed into cryptocurrency which effectively eliminates all intermediaries making it fast, safe and decentralized. Top nations around the globe have already started adopting cryptocurrency. Now the growing demand of crypto assets such as Bitcoin, Litecoin and Ether will drive market growth in coming few years. With plenty of advantage on offer with cryptocurrency, companies are investing and collaborating with each other to deliver quality and efficient crypto to fiat exchange services. The crypto market demand has grown consistently in the last few years and this trend will continue as it is the next big thing after Internet.
Crypto Market Offering
Cryptocurrency doesn’t have any physical representation, hence the entire transaction is conducted online. Bitcoin was the first crypto to enter the market, since then hundreds of other alternate coins or Altcoins made entry. At a time when technology has advanced rapidly, there is need to find an alternative to present monetary system. Crypto market is giving that hope and hence there is increase in adoption. Some of the figures and statistics related to crypto market and crypto to fiat exchangewill excite enthusiasts.
At the end of 2019, cryptocurrency market was valued at 1.03 billion (USD) and in next 5 years, i.e. by 2025 it is projected to reach 1.5 billion. The forecasted growth rate during this period will be 6.18%. Some of the major drivers for crypto growth are transparency, high remittance in developed nations, growth in different venture capital investments, fluctuation in monetary schemes and high fees of cross-border remittance.
The popularity of digital currencies such as Bitcoin, Litecoin and Ether are expected to drive the crypto market in coming few years. Already people from developed and developing nations are adapting to this new financial world sensation. Few best Crypto Exchange Australiaplatforms have reportedly seen exponential rise in new users. Following this trend top business names are entering into crypto market, which is further drawing interest of common traders or investors. Facebook is one popular business group to enter the league. Growing number of decentralized currency exchanges are heating up the competition, offering best deals for new crypto fans.
Crypto Market Forecast
By Type
By type Bitcoin will hold the largest share of digital currency market in coming few years (since start it has maintained this popularity though). In most crypto to fiat exchangeplatforms, trader’s first choice is Bitcoin. Cryptos are categorized as Bitcoin and Altcoins. Bitcoin, the first digital currency is maintaining a handsome lead even after a decade in the business. The recent COVID-19 situation and global economic turmoil has only helped the crypto market. Huge section of people has started using different crypto exchanges, with the purpose to save their hard-earned money from present economic crisis. Several Block-chain powered tokens or coins are also slowly reshaping the industry garnering attention from everywhere.
By Application
In terms of market payment the crypto industry is expected to grow at a huge CAGR from 2020 to 2025. Digital currency payments bring along wide range of benefits, such as protection against scams or fraud, low fees, decentralized system, transactional security, quick cross-border transfer and no consumer chargeback. All these are helping crypto adoption rate. The number of crypto to fiat exchange signups and trade has increased massively in last couple of years.
APAC is expected to have the largest share of crypto market in upcoming 2020–2025 period. This market is divided into Australia, India, China, Japan, South Korea, New Zealand, Thailand, Malaysia and Singapore. Government regulations, crypto awareness and zeal among commoners for an alternative currency system will help crypto market to boom in this region. The level of cryptocurrency knowledge and awareness is growing massively in this area, so don’t be surprised if APAC becomes the hub of crypto market in next few years.
Crypto Market Share
By type digital currencies are categorized in different currencies such as Bitcoin, Litecoin, Ether, Bitcoin Cash, Ripple and others. Even though there are thousands of digital tokens in circulation today, Bitcoin is still the king. Bitcoin is today the most traded digital currency and holds maximum market share. Ether is the next popular currency which is seeing huge adoption. Ether is finding wide use for investment, accounting, different decentralized programs and smart contracts. If the recent trend follows, Ether may give tough fight to Bitcoin in coming few years.
Popular crypto to fiat exchangeplatforms allows investors or traders with plethora of cryptocurrencies under one roof. However cryptocurrency use is spreading across different fields. Based on end-used, the crypto market is now categorized in ecommerce, trading, remittance and peer-to-peer payment. In coming few years ecommerce and trading segments are expected to hold major share.
For instance popular business groups around the world are now accepting Bitcoin and other digital currencies for fast, safe and hassle-free online orders. Penetration of digital currencies in digital payment system will only increase with top business honchos accepting crypto. Even financial institutions in some places are heading towards Blockchain technology now which will drive te future markets.
Regional Analysis
Geographically the crypto market is slowly but steadily spreading across all locations. Till 2019 end, the market was mainly spread around regions like Europe, North America, Asia Pacific, Latin America and Middle East, but by coming few years its dominance will increase in other places too. With some of the best Crypto Exchange Australiaentering in the business, crypto awareness and adoption is increasing in other places around the world.
Till end 2019, North America held the largest share in terms of crypto market. People in this region treated Bitcoin and other currencies as a profitable alternative to traditional currencies. Even though it is not regulated by the local governments, crypto adoption and growth saw exponential rise. Developed nations like the US, UK, Singapore and Japan is using cryptos for day to day transactions. Also acceptance of cryptocurrency by retailers and consumers drive growth of crypto market. However recent COVID-19 crisis may put a dent to this trend in the region to an extent.
However in the coming few years crypto market is expected to boom in Middle East and Asia Pacific region. Already there are many crypto to fiat exchangeplatforms coming up offering exciting deals and exchange rates for new traders. The competition is heating up in the region and popular exchanges are finding huge prospect in this part of the globe. Even though crypto awareness and knowledge in the region is limited, things are changing pretty fast. Don’t be surpised if this region turns out to be the next hub for crypto start-ups and Blockchain projects!
Bottom-Line
Despite COVID-19 crisis cryptos have maintained an upward trend and its adoption rate have increased massively during this period. Common people faith on existing monetary or financial system is slowly fading, resulting in crypto market demand. The recent COVID pandemic has acted as a catalyst, where commoners have realized the importance for alternative currency system. There is here crypto market is growing in demand and making new records. The next few years for crypto market is important, where it will cement its place in the global financial system. Time to make the switch slowly, as market experts assume Bitcoin price to reach record $100,000 in next five years!
Originally published at https://www.ausfinex.com on October 27, 2020.
