Bitcoin ATM Count Slumps: First Decline in 10 Months
CryptoNewsTerminal Staff21 May, 2024
Bitcoin ATM Count Slumps: First Decline in 10 Months
In a surprising turn of events, the global Bitcoin ATM count has witnessed its first decline in 10 months, since July 2023. This notable shift, reported by Cointelegraph, indicates a change in the industry's growth trajectory. Since the start of May, over 300 Bitcoin ATMs have been removed, with a staggering 302 of these removals occurring in the United States alone. According to CoinATMRadar, the total number of Bitcoin ATMs worldwide currently stands at 37,621. The reasons behind this sudden decline remain unclear, but it's worth noting that the cryptocurrency market has been experiencing a downturn in recent months. The value of Bitcoin, in particular, has fluctuated significantly, leading to uncertainty among investors and potential ATM operators. Analysts are closely monitoring the situation to determine whether this decline represents a long-term trend or a temporary setback. The accessibility of Bitcoin ATMs has played a crucial role in expanding the reach of cryptocurrency, and any sustained reduction in their numbers could have implications for the industry's growth.
