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Global Online Gambling Market 2018-2022 | Introduction of Bitcoin Gambling to Boost Growth | Technavio

LONDON–(BUSINESS WIRE)–#Casinosandgaming–The global online gambling market is expected to post a CAGR of close to 11% during the period 2018-2022, according to the latest market research report by Technavio. Request a free sample report

Consumers are increasingly using freemium business model because it allows them to try the product with free or limited features for a specific duration before making the purchase. Under this model, vendors offer consumers free coins when they first join the game. Once the coins are exhausted, users can choose to buy more coins to continue playing the game, try other games or exit. This flexibility helps vendors to attract new users. These factors will propel the online gambling market growth during the forecast period 2018-2022.

To learn more about the global trends impacting the future of market research, download free sample: https://www.technavio.com/talk-to-us?report=IRTNTR22686

As per Technavio, the introduction of bitcoin gambling, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2018-2022.

Global Online Gambling Market: Introduction of Bitcoin Gambling

Peer-to-peer payments on the Internet are encouraged by bitcoin, a cryptocurrency. Bitcoins are also increasingly being used as currency in online gambling business due to the advantages offered by cryptocurrency over normal currency. They can be used for cross-border transactions since the fee involved with comparatively lower. Furthermore, bitcoin transactions are also secure and much faster. Vendors like Bitcasino.io, Slots.lv, Ignition, and Bovada are offering bitcoin gambling which is expected to boost the online gambling market growth during the forecast period.

“The significant contribution of the gambling industry to the economy and the rising need for mobile gambling are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.

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Global Online Gambling Market: Segmentation Analysis

This market research report segments the global online gambling market by type (casino, betting, and lottery), end-user (desktop and mobile), and geographical regions (APAC, Americas, and EMEA).

The APAC region will witness the highest incremental growth during the forecast period. This is due to the launch of new casinos, lottery events, and liberalization in regulations in the region.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Business Wire , 2019-11-20 07:37:17 ,

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While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

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Nick Chong , 2019-11-10 12:00:38

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