Our last review covered September through November. Now we will take a look at the first month of the new year. The price of Bitcoin steadily soared to record highs through the first half of December. After peaking at $19,499, volatility has been the norm since then. The price of Bitcoin has seen sharp rises here and there, but overall for the month of January, it has progressively declined in value. In spite of the downward trajectory, the price of Bitcoin still remains high when compared to previous years.
The growth rate has remained steady for new machines.
Period Start: 2025, Period End: 2153
Opened: 149, Closed: 21, Net Growth: +128 (+6.3%)
Previous similar review was about August. Filling the gap of 3 months in this post we cover what are the main changes in bitcoin ATM statistics over last 3 months: September — November.
There was a drastic change of bitcoin price over this time, it grew from $4912 in beginning of September to $10884 at the beginning of December (more than 2x growth).
Demand for buying cryptocurrency supported the installations of new machines and new operators entering the market. Here are general figures for 3 months:
Period Start: 1514, Period End: 1890
Opened: 519, Closed: 143, Net Growth: +376 (+24.8% or 7.6% per month)
During July 2017 bitcoin price fluctuated a lot. In the beginning of the month it fell to less than $2000 per BTC, but then quickly gained back and month closed at roughly $2700 per BTC, which was higher than the price of end of June 2017.
During April 2017 bitcoin continued to increase in price, and reached ATH ~$1400 by the end of the month.
Such price increase definitely led to hype in bitcoin demand. As bitcoin ATMs are one of the easiest ways to purchase bitcoins, usage of bitcoin machines also reportedly increased. To some extent it led to growth of number of bitcoin ATMs installed. The following statistics illustrate changed bitcoin machines number during April 2017:
Period Start: 1113, Period End: 1156
Open: 63, Closed: 20, Net Growth: +43 (+3.9%)
Bitcoin ATM industry is relatively new, however, it develops very dynamically. There are many new players entering the market, at the same time there is definitely a trend of some major participants increasing their machine networks size. In this article we evaluate how high is the concentration in bitcoin ATM industry w.r.t. manufacturers and operators. For assessment we look at top 3 countries with highest number of bitcoin ATMs installed: United States of America, Canada and United Kingdom.
For the purpose of this article three types of indexes are used:
Concentration ratio 3 (CR3) – market share controlled by top 3 manufacturers or operators;
Concentration ratio 5 (CR5) – market share controlled by top 5 manufacturers or operators;
Herfindahl index – is a concentration index, which is calculated as a sum of squared market shares, and gives more weight to the situation with dominance of a single or small group of companies.