Allied Market Research

Bitcoin Technology Market: Demand, Growth Analysis and Industry Forecast by 2023


Portland, OR -- (SBWIRE) -- 10/05/2017 -- Bitcoin is a digital currency, which uses decentralized technology for storing money and secure payments that do not require the name of the person or the bank. It works on a public ledger, which is called as a blockchain. It holds a decentralized record of all transactions that is updated and held by all the users of the network. Bitcoins exist either on a users computer or in the cloud and are stored in a digital wallet. The wallet is similar to a virtual bank account, which allows users to pay for goods, send or receive bitcoins, or save their money.

Increase in adoption of the digital currency drives the Bitcoin Technology Market. In addition, the growth of disposable income among middle-income group as well as economic boom propels the growth of the market. However, lack of proper valuation systems due to which bitcoin can be subject to high volatility in price and constantly fluctuating value of bitcoins according to demand limits the growth of this market. Furthermore, rise in awareness about benefits of bitcoin technology, which includes lesser transaction fees, no intermediaries or third-party involvement, daily cash outs, and others is expected to provide numerous opportunities for this market to grow. In addition, increase in adoption of this technology by most of the online merchants and startup companies to cut overhead costs compared to credit or debit card transactions is opportunistic for the market.

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Bitcoin Technology Market Report Key Benefits:

The study provides an in-depth analysis of the global bitcoin technology market and current & future trends to elucidate the imminent investment pockets.

Information about key drivers restrains, and opportunities are provided.

Porters Five Forces analysis illustrates the potency of buyers and suppliers operating in the industry.

The quantitative analysis of the global market from 2016 to 2023 is provided to determine the market potential.

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Bitcoin Technology Market Key Segment:

By Denominations

-Micro Bitcoin
-Milli Bitcoin

By Industry Verticals

-Entertainment & Media

By Services

-Payment & Wallet Services
-Bitcoin Exchanges
-Remittance Services

By Region

-North America

Key Market Players Profiled In The Report
-BTCS Inc.
-ANXBTC Bitcoin Exchange
-Blockstream, Inc.