Crypto Market Analysis

The general cryptocurrency market is estimated to arrive at 1.40 billion dollars by the year 2024, at a compound annual growth rate of 6.18% throughout the forecast interval.

Are you new in this world? Keep reading :)

What is Cryptography?

'Crypto' signifies secret or vault while 'graphy' means 'writing.' So, cryptography is the process of retaining specified news and information with secret codes that allows only the person for whom the message is intended to process it.
In a crypto market, cryptocurrency is used as a mode of transaction. Cryptocurrency is virtual money that implies cryptography to act as a mode of exchange for safe and secure transactions in a platform called 'Distributed Ledger.' The creation of cryptocurrency is controlled by cryptography.

Bitcoin - The First Cryptocurrency

Bitcoin was created in 2009, which became the first-ever cryptocurrency made by man. As of today, there are more than eight hundred different cryptocurrencies that can be alternated with Bitcoin. One such cryptocurrency is Altcoin. Some of the popular Altcoin cryptocurrencies are Ethereum, Litecoin, and Ripple. Bitcoin, as well as some significant Altcoins, are available on TradingView.

https://en.tradingview.com/.com lobby

One fact is that some of the popular top 10 cryptocurrencies are trading below its 200-day flow chart averages such as Bitcoin Cash (BCH), Bitcoin SV (BSV), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Stellar (XLM), Binance Coin(BNB) and EOS.

Bitcoin Analysis

Basing on the daily chart, the price of Bitcoin is moving in a large subsiding medium. The newest intercourse is also seen to be sloping downwards. This makes the general picture bleak in the eyes of common people. The first thing to analyze here is to check whether the price will change or if it could attract enough buyers to elevate the price line and form a sideway medium.

Classification of Cryptocurrency Market

A cryptocurrency market is sorted and arranged according to its component, process, type, end-user, and geography.

1. By Component
   The component is sub-divided into hardware and software.
   ● Hardware - Under this segment, it is further sorted into ASIC, GPU, Wallet, FPGA, etc.
   ● Software - Under this, it is classified into coinchain, blockchain, and mining platform.

2. By Process
   There are two processes which are transaction and mining.

3. By Type
   There are various types of cryptocurrencies in a crypto market. They include Bitcoin, Etherum, Litecoin, Ripple (XRP), and Dashcoin.

4. By End-User
   It is further classified into:-
   • Remittance
   • Media and entertainment
   • Peer-to-peer payment
   • E-commerce and retail
   It is also categorized into the stock market, real estate, virtual currency, and banking.

5. By Geography
   This category consists of the divided regions across North America, Europe, Asia-Pacific, and Latin America and Middle East & Africa.

● North America - It includes the US and Canada.
● Europe - It consists of the UK, France, Germany, Spain, Scandinavia, Italy, and the rest of Europe.
● Asia Pacific - This division consists of Australia, China, Japan, India, Southeast Asia, and the rest of Asia Pacific.
● Latin America - It includes Mexico, Brazil, and the rest of Latin America.
● Middle East & Africa - It comprises GCC, South Africa, and the rest of the Middle East & Africa.

Regional Analysis

North America contributes a big part in a cryptocurrency market because of their prior adaptation to the digital currencies. The region of North America is comprised of 39% of the wallets, 27% of participants in the industry, 19% of digital money payment companies, and 18% of exchanges and transactions.

Europe is the top 2 rank in a cryptocurrency market. Germany issued laws to hold Bitcoin as a type of private currency, free of taxes, unless it is possessed for twelve months or more. This led to a quick growth in the number of token owners.

The Asia Pacific region has seen an escalating growth in cryptocurrency exchanges and introduction and adoption to online wallets. Japan is the leading country in crypto investments issuing norms to bring about official legalization of digital currencies.
The region of Asia Pacific is comprised of 36% of participants of the total industry, 33% of the digital money payment companies, 27% of the transactions and exchanges, and 19% of the wallets.

Key Players in a Cryptomarket

Some of the key players in the cryptocurrency market include Intel Corporation (US), Microsoft Corporation (US), BitFury Group Limited (Netherlands), NVIDIA Corporation (US), Advanced Micro Devices, Inc. (US), Ethereum Foundation (Switzerland), AlphaPoint Corporation, Xilinx Inc. (US), Bitmain (China), Ripple Labs Inc. (US), Coinbase Ltd. (US), BitGo (US), BTL Group Ltd. and Binance Holdings (China).
These major players are consistently undertaking collaborations and partnerships and launching new products to introduce in the market.

Different Types of Cryptocurrency

I have saved this like "The sunshine of the future". (I know, I'm not much good to draw.) :)

1. Bitcoin
   The first original cryptocurrency in the crypto market is Bitcoin, and it still tries to retain its priority state. As stated at coinmarketcap.com, there are approximately 17.1 million Bitcoins in the market. There have been words on 'The Flippening' where another digital currency might have a chance of taking over its predecessor, Bitcoin. However, that is yet to happen, and Bitcoin remains on the top.
2. Ethereum
   The second cryptocurrency in line with Bitcoin is Ethereum. This digital currency is responsible for promoting the arrival of the Initial Coin Offering or ICO. Compared with Bitcoin, it is relatively smaller, with the current market capital of 50 billion dollars and a trading price of approximately 500 dollars per currency. There is only about 100.7 million Ethereum cryptocurrency circulating in the market.
3. Ripple
   The top 3 on the list is none other than Ripple. The present market capitalization of Ripple is over 19.8 billion dollars. Unlike Bitcoin, Ethereum, and Bitcoin Cash, the cost of the Ripple currency is as low as 50 cents per currency. However, Ripple's stand in the market is relatively high, with more than 39 billion currencies circulating in the market.
4. Bitcoin Cash
   The next in line is the Bitcoin Cash, Bitcoin's spin-off. With the total market capitalization of approximately 14.5 billion dollars and the market price per currency of 843 dollars, it has a circulation of more than 17.2 million Bitcoin Cash in a crypto market.
5. EOS
   The top 5 on the list is EOS. It has a total market capitalization of 7.83 billion dollars, along with a circulation of over 896 million currencies.

Major Market Developments

● The world's first Bitcoin miner called Antminer S9 was launched by Bitmain in May 2016 and is established on a 16nm processor chip.
● NVIDIA launched TITAN V in December 2017. TITAN V is the most advanced GPU in the world for PC. It is powered by NVIDIA Volta, the most dynamic GPU architecture worldwide. TITAN V plays a very crucial role in calculating scientific facsimile. It has 21.1 billion transistors with high energy efficiency that produces 110 teraflops of horsepower, which is nine times more powerful than the ones before it.
● EPYC Embedded 3000 series processor was launched by AMD in February 2018. AMD Ryzen Embedded V1000 processor was also launched at the same time, both delivering high-quality performance, remarkable integration as well as on-chip security.

I hope you appreciate the commitment and attention that it took me to write this article!. thanks for reading this far.

See you soon! -Gabriel.