  Blockchain and its application on cryptocurrency transactions have gathered a
lot of attention and popularity since the birth of the pioneer Bitcoin in 2009.
More than 1500 cryptocurrencies are currently circulated in the market. The
technology underpinning Bitcoin and other cryptocurrencies is Blockchain and is
a rapidly growing decentralized distributed ledger technology which find its
major involvement in cryptocurrencies. But cryptocurrencies are of extremely
volatile and fragile nature which makes it difficult to be used as a stable
currency for transactions and devoid this market of human trust. Cryptocurrency
market is controlled by various social and government factors which keeps it
fluctuating. This paper identifies and discusses the important factors that
govern the cryptocurrency market and analyzes the impact of these factors. A
pilot user survey has also been presented at the end of this paper to
understand and demonstrate the societal view of the acceptance of
cryptocurrencies.
