Bitcoin ATM Operator Expects Resurgence as FOMO Drives Bitcoin Price Higher

cryptonews.com:

Brandon Mintz, CEO of  Bitcoin (BTC)  ATM operator Bitcoin Depot, predicts a global surge in Bitcoin ATM installations following the Bitcoin halving. 

Mintz anticipates that the period after the halving, when crypto FOMO (fear of missing out) typically intensifies, will drive increased demand for Bitcoin ATMs. 

In 2023, crypto ATM installations experienced their first-ever yearly decline in a decade, likely due to the bear market exacerbated by the collapse of several crypto firms.

However, the start of 2024 has already shown promising signs, with 1,469 crypto ATMs installed in the first three months alone, compared to the over 3,000 removed during the same period in 2023, according to  data from CoinATMRadar . 

Mintz expects the FOMO phase and increased adoption of cryptocurrencies to drive more customers to Bitcoin teller machines. 

“It’s looking really positive that the industry continues to see a lot of growth in kiosk count.”

However, he believes it is still early in the cycle, as the halving event, scheduled for late April, approaches. 

Historically, the uptick in Bitcoin adoption and ATM usage tends to occur after the halving, when the price of Bitcoin experiences significant growth.

While the number of teller machines has increased recently, Mintz notes that over the past 18 months, the number of ATM operators has actually decreased.

3 machines in a row at a local chain grocery.

I'm thinking Bitcoin ATM market may be saturated. pic.twitter.com/g4BWIxuHLr

— Neil ₿