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Bitcoin Depot ATM

Bitcoin ATM Market Dynamics June 2018

In June the price of Bitcoin followed the trend form May and continued to move in the downward trajectory. At the beginning of the month, the price was $7,535. It continued to fall, even reaching the lowest value in this year at $5,909 on 29th June ended at  $6,381, which is a 15,3% fall since the beginning of the month.

Bitcoin Price June 2018, source: blockchain.info

Unlike the price downward trajectory, the number of new machines continued to grow.

Period Start: 3177, Period End: 3399
Opened: 282, Closed: 60, Net Growth: +222(+7.0%)

Unlike the prices that fluctuate since beginning of year, the number of new machines continues to follow a steady increase. This trend continues in June.

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Bitcoin ATM Market Dynamics May 2018

This May the price of Bitcoin encountered an overall decline. After April’s period of rising ended, this month started with Bitcoin value at $9,075. After a growth in first five days, the price started to fall, accompanied by a few bumps in the middle of the month. May ended with a Bitcoin price of  $7,491 which comes to a 17,5% fall since the beginning of the month.

Bitcoin Price May 2018, source: blockchain.info

Unlike the price downward trajectory, the number of new machines continues to grow.

Period Start: 2938, Period End: 3162
Opened: 304, Closed: 80, Net Growth: +224(+7.6%)

Unlike the prices that fluctuate since the year started, the number of new machines continues to follow a steady increase. This trend continues in May.

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Bitcoin ATM Industry Trends 2018

Bitcoin ATM industry grew over 2017 year with accelerating speed. Back in 2014 we did a forecast of how many installations of machines there will be in several years. You can find the table at the end of the post on comparison of traditional bank ATM growth vs. bitcoin ATM growth. The forecast was done based on bank ATM installations back in 1970-s. After 7 years we assumed there will be 2900 ATMs installed worldwide. Today (~4.5 years since first bitcoin ATM installation) there are already more than 3000 ATMs installed worldwide. And the speed if installations is only accelerating over previous years:

Bitcoin ATM growth

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Bitcoin ATM Market Dynamics April 2018

After experiencing the downfall in March, this April Bitcoin prices went in a different direction. They started to rise steadily from the beginning of the month, starting at $6,794 and peaking at $9,556 on 24.  April ended with a value of $9,260, which comes to a 36% rise since beginning of the month.

Bitcoin Price April 2018, source: blockchain.info

Accompanying the upward price trajectory was the growth in the number of new machines.

Period Start: 2667, Period End: 2878
Opened: 250, Closed: 39, Net Growth: +211(+7.9%)

Unlike the prices that fluctuate since the year started, the number of new machines continues to follow a steady increase. That trend continues in April.

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Bitcoin ATM Market Dynamics January 2018

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.

BTC price January 2018 USD
Bitcoin Price January 2018, source: blockchain.info

The growth rate has remained steady for new machines.

Period Start: 2025, Period End: 2153
Opened: 149, Closed: 21, Net Growth: +128 (+6.3%)

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Bitcoin ATM Market Dynamics July 2017

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.

BTC price July 2017

Bitcoin ATM new locations also increased drastically over July 2017:

Period Start: 1331, Period End: 1402
Open: 112, Closed: 41, Net Growth: +71 (+5.3%)

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Bitcoin ATM Market Dynamics June 2017

During June 2017 bitcoin price stabilized at the $2500 levels. At the end of June price was $2432, which is approximately the same as it was at closing of May 2017.

Bitcoin price June 2017

While price of bitcoin stayed at highest level over history, installation of bitcoin ATMs also reached new highs during June 2017:

Period Start: 1233, Period End: 1324
Open: 120, Closed: 29, Net Growth: +91 (+7.4%)

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Bitcoin ATM Market Dynamics May 2017

May 2017 was a great month for all cryptocurrencies growth. Bitcoin also grew substantially in price ($2400 at the end of May).

Bitcoin price May 2017

This has driven a lot of new demand and new users to cryptocurrency world. New traffic to existing bitcoin ATMs incentivized new installations. Here is the stats for May 2017:

Period Start: 1158, Period End: 1236
Open: 95, Closed: 17, Net Growth: +78 (+6.7%)

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Bitcoin ATM Market Dynamics April 2017

During April 2017 bitcoin continued to increase in price, and reached ATH ~$1400 by the end of the month.

Bitcoin price April 2017
Blockchain.info Bitcoin price chart

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%)

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