Follow us on:

cc_icon

Post: Crypto ATM Installations: Decline in 2023, Rebound Predicted Post-Halving & Promising Start in 2024

Crypto ATM Installations: Decline in 2023, Rebound Predicted Post-Halving & Promising Start in 2024

Key Points:

  • Crypto ATM installs declined in 2023, attributed to a bear market and the collapse of crypto firms.
  • Bitcoin ATM operator CEO Brandon Mintz anticipates a rebound post-Bitcoin halving due to increased installations driven by crypto FOMO.
  • 2024 has shown a promising start with 1,469 crypto ATMs installed in the first three months, signaling a potential uptrend.

Decline in 2023 Installations:

In 2023, the cryptocurrency ATM sector experienced its first annual decline in installations in ten years due to a bear market and the collapse of several crypto firms. This decline was a significant deviation from the sector’s growth trend.

Post-Halving Rebound Prediction:

Brandon Mintz, the CEO of Bitcoin Depot, expects a resurgence in crypto ATM installations after the Bitcoin halving event, driven by a surge in installations fueled by the typically heightened crypto FOMO during this period. This anticipation suggests a positive trajectory for the sector in the near future.

Promising Start in 2024:

The data from CoinATMRadar indicates a promising start to 2024, with 1,469 crypto ATMs installed in the initial three months of the year. This increase in installations compared to the prior year’s removals by the same period hints at a potential recovery and growth in the crypto ATM space.

Hot Take

The expected rebound in crypto ATM installations post-Bitcoin halving aligns with historical trends where increased interest and price surges in cryptocurrencies lead to expanded infrastructure support. The uptick in installations early in 2024 signals a positive outlook for the sector’s development throughout the year.

Recent Posts
Social Media
Twitter
Email
Telegram
Facebook
Offers
CheekyCrypto Membership Platform
Hardware Wallets
Bitget
Swissborg
Plutus Card