Market Predictions

What does Data Predict?

New Data studies predict that the global blockchain market that was valued at $26.1 million in 2016 will grow to $9.6 billion by 2024. During the next half a decade, the industry will grow with a compound annual growth rate (CAGR) of 60.8 percent. While the public blockchain sector will continue to grow exponentially, it will be the private sector that will dominate the market, contributing over 50 percent to the market.

Corporate Giants in the Space

 IBM will be one of the most prominent corporations in the blockchain segment as it held over 10 percent of the global blockchain market in 2016 alone. The initial boost could help IBM become instrumental in the sector. Other important corporations in the segment will be Accenture Plc., Intel Corporation, Deloitte and Microsoft Corporation, among others. 

Which Sectors Will Experience the Most Growth?

 The banking, financial service, and insurance (BFSI) sector will experience the most widespread use of blockchain technology.It contributed over 75 percent of the total global blockchain market in 2016 and is expected to continue its dominance to 2024 as well. Growing demand for transaction processing will fuel the rapid growth in these sectors. The media and entertainment segment will grow at the highest CAGR of 64.9 percent during this period as blockchains could help remove intermediaries and ensure better content distribution. 

Disclaimer

 “Emerging market Central Securities Depositories (CSDs) could deploy blockchain as a tool, by which corporate actions could be complemented, and trade settlements will be speeded up. However, lack of technical understanding about the blockchain concept and lack of awareness about the Blockchain and uncertain regulatory status is supposed to curtail the overall market growth.” 

Cryptocurrency Price Index

 

Popular examples are CoinMarketCap, WorldCoinIndex and CryptoCompare. These sites are mainly used for the instant price information they provide on multiple cryptocurrencies but are also a good source of information for benchmarking, monitoring and comparing the growth of the various cryptocurrency assets.

Depending on the listing criteria of individual price indexes, they might provide details on all coins and tokens available on the market or just certain ones which comply with the criteria, such as being available on public exchanges with a sufficient level of trading volume.

Most reputable crypto price indexes will, however, list the majority of coins available on the market and are, therefore, a good way of keeping your finger on the pulse of the entire cryptocurrency market at any given time, without having to manually compile data from hundreds of individual cryptocurrency exchanges.

How is the Crypto market index different from a traditional stock market index?

 

It is essentially the same principal.

Both indicate the financial health of an industry in which an investor has invested.

The biggest difference is, of course, the fact that traditional stock market indexes list the price info for shares in companies while crypto indexes list price info for cryptocurrency assets of the various blockchain-based networks.

Another difference is, where cryptocurrency price indexes tend to list the majority of crypto tokens available on the open market, traditional stock market indexes will only list a limited number of stocks, with some common denominator between them -- usually type of sector or size of company. These indexes are often seen as a snapshot to help investors gauge the health of the overall market.

The Standard & Poor's 500 Index (S&P 500) in the United States lists the 500 largest U.S. companies by market value, while the Financial Times Stock Exchange 100 (FTSE 100) is composed of 100 of the largest companies listed on the London Stock Exchange (by market capitalization).

On the other hand, the FTSE techMARK 100 represents only the top 100 innovative technology companies from the London Stock Exchange while the S&P Global 1200 Information Technology Index lists only companies in the IT sector.

Bloomberg Galaxy Crypto Index

 Bloomberg and Galaxy Digital Capital Management have launched the Bloomberg Galaxy Crypto Index (BGCI). The index is designed to measure the performance of the largest cryptocurrencies traded in USD. The BGCI is market capitalization-weighted and includes cryptocurrencies such as Bitcoin, Ethereum, Monero, Ripple and Zcash. The index constituents are diversified across different categories of digital assets, including stores of value, mediums of exchange, smart contract protocols and privacy assets. 


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