The global crypto currency Market augmented positively from USD 10.9 billion on 2^nd January 2014 to USD 346.9 billion on 4^th December 2017 at a CAGR of 137.7% during 2014-2017. Growth in the crypto currency market has been driven largely by venture capitalists investing in technology infrastructure, and other investors seeking to profit from price fluctuations, rather than by consumers actually using crypto currency. Venture capitalists with formidable experience investing in the technology sector have been pouring capital into the market, expecting that consumer demand will drive future growth of this market, resulting in huge market growth.

The market of bitcoins surged during 2017 at a very high pace majorly owing to soaring demand in the Asian countries. Increasing market value of Bitcoin and increasing awareness around the globe will result in market growth in the future.

Bitcoin is the market leader in terms of market cap dominating the crypto currency market around the globe. On 4^th December, 2017 bitcoin accounted for over 55.8% of the overall market cap among all the crypto currencies in the world.

It has been expected that bitcoin market will have three potential futures scenarios during 2017-2022. Firstly, bitcoin market may witness a major bubble burst and the value of bitcoin will witness major fall and then stabilize over the years. It has been witnessed that price of bitcoin has gone up at a faster pace than any other speculative vehicle in market history which has attracted a lot of investment and speculation in the market. The experts at Ken Research believe that the bubble is expected to burst and the price of bitcoin will fall drastically and stabilize with time. Secondly, it is highly expected that respective governments will accept and introduce norms against bitcoins and the market witness steady growth in coming years. Criminal activities in and around the world have raised the concern for the government to introduce new regulations in the market for using bitcoins. Many countries have officially started using bitcoins as mode of payment but the regulations imposed aren’t strict enough in the countries to avoid illegal activities. It is anticipated that as the prominence of bitcoin in the market increases, it will be mandatory for the government to impose necessary regulations to avoid misuse of the currency. Thirdly, it has been anticipated that the bitcoin market will grow at same growth rate and will rise at a good pace in coming years. It is expected that three to four major cryptocurrencies will grow in future and bitcoin will be one of those and the major reason for the same will the first-mover advantage, the scale and the pioneering. The price of bitcoin has been highly volatile but its value has increased at a double digit CAGR in past five years. It is anticipated that the value will increase at higher or same growth rate in near future.

The report titled “Global Cryptocurrency and Bitcoin Market by Market Capitalization of Major Cryptocurrencies (Bitcoin, Ethereum, Bitcoin Cash, Ripple, Dash, Litecoin, Monero, NEM and Others), by Mining Facilities and by Use of Bitcoin – Outlook to 2022” by Ken Research suggested that Japan has secured 56.2% of the global bitcoin exchange market share, processing more than twice as much bitcoin trades as the US market.

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