The value of all cryptocurrency transactions will fall sharply this year to just over $30 billion, compared with $71 billion in 2014, a new report from Juniper Research has predicted.

Although companies such as PayPal have started to allow US consumers to purchase digital goods via Bitcoin, Juniper noted: “The scale of the challenge facing Bitcoin is so great that it will struggle to gain traction beyond a tech-savvy and/or libertarian demographic.”