Crypto analyst predicts Bitcoin market cap could hit ‘trillions’ as gambling and gaming industry grows – TWJ Crypto


Multiple industries have made it a point to bring cryptocurrencies into its fold with gambling and betting applications taking the cream layer. Gambling apps have always been associated with Tron blockchain, but Bitcoin, the world’s largest cryptocurrency, has also been a prime candidate in promoting the industry.

In a recent tweet, ‘themooncarl,’ a cryptocurrency enthusiast talked about how Bitcoin is on its way up by saying:

“When you see the size of the poker industry, gaming industry and the forex market compared to #Bitcoin, it gets obvious that we’ve seen nothing yet.

The market cap of #BTC is going to $trillions.”

Many users in the space have always talked about how cryptocurrency will reach its peak in mainstream applications. But, this latest tweet seems to have stuck with a lot of members because of the growing use cases. Themooncarl was also supported by another user called the internet platypus, who replied:

“Gambling is a great use case for Bitcoin. Lightning Network games are fun with instant micro transactions, I see a big future.”

Looking at statistics, it is pretty evident that some crypto holders have taken the digital asset world, especially after the keen focus taken by cryptocurrency organizations. Bitcoin was the surprise entrant into the field after Tron; the Justin Sun founded cryptocurrency had made its forte. In 2017, the gaming industry was worth $18.4 billion, with the US gaming revenue forecasted to reach the $230 billion mark by 2022. If the prediction is met, the gaming market in 2022 will become the largest trading market in the world.

READ  Where You Goin’ With That Gun in Your Hand? - newsBTC

China, one of the largest gaming markets on the planet, is expected to register a CAGR of 14 percent during the forecast period of 2019-2024. China being a mobile-first country constituting the world’s most extensive mobile subscriber base, and owing to the rapidly rising popularity and increased adoption of mobile games and eSports in the country, the market is expected to witness growth during the forecast period.

The online gambling industry has taken the internet by storm, too, with sources claiming that the total market size is expected to reach $102.97 billion by 2025. This growth will also register a CAGR of 11.5 percent within the same time period.

The above forecasts certainly lend a helping hand to Bitcoin and other cryptocurrencies because of the routine adoption news in the digital asset world. As we write this, the Bitcoin price stands at $9325.07. At present, the most significant cryptocurrency in the market holds a total market cap of 168.09 billion USD. The crypto king also boasts a 24-hour market volume of $21.89 billion after a stellar growth last week promoted its position on the charts.

Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.





READ SOURCE

READ  Analysts Expect Ethereum (ETH) to See Increased Bullish Momentum as Crypto Markets Trade Mixed - newsBTC

LEAVE A REPLY

Please enter your comment!
Please enter your name here