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The number of Bitcoin (BTC) ATMs installed worldwide has now surpassed a new milestone surpassing 6,000.

Online resource CoinATMRadar shows that there are currently 6,004 machines installed worldwide, over 65% of which are in the United States. 

The United States dwarfs other countries in Bitcoin ATMs

Furthermore, 108 machines have been deployed this month and data also shows that the average daily number of Bitcoin ATMs installed is 11 — the fastest pace this year.

Over three-quarters of the machines installed worldwide are in North America, nearly 20% in Europe and only 2% in Asia. The U.S. is home to 3,924 ATMs, Canada has 653, while the next countries in the top-four are the United Kingdom and Austria with 272 and 189, respectively.

Growth of Bitcoin ATM Installations Worldwide

Growth of Bitcoin ATM Installations Worldwide | Source: CoinATMRadar.com

1,000 new machines deployed since June

The total number worldwide increased by about 1,000 since June, showing that the industry is seeing significant growth. Bitcoin ATMs, sometimes referred to as BTMs, allow users to buy BTC, while over 35% of machines also have two-way capabilities enabling sell crypto for cash.

In mid-October, one such machine was installed by BTM firm Bitstop at the Miami International Airport. The company’s co-founder and chief strategy officer Doug Carillo claimed that explained that Bitcoin is useful for travelers:

“More and more people prefer to travel with Bitcoin instead of cash for convenience and security. Miami International Airport is a perfect place for our customers to conveniently exchange their dollars for Bitcoin and vice versa when traveling domestically or abroad.”

Still, not everyone seems happy about the growth in the popularity of Bitcoin ATMs, particularly in the United States. 

As Cointelegraph reported yesterday, the U.S. Internal Revenue Service Criminal Investigation Chief John Fort said that the regulator is wary of the potential tax issues caused by Bitcoin ATMs and kiosks.

“They’re required to abide by the same Know-Your-Customer, Anti-Money Laundering regulations, and we believe some have varying levels of adherence to those regulations,” said Fort.

Cointelegraph By Adrian Zmudzinski , 2019-11-17 08:58:00 ,

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NewsBlock © 2019 - 2020 All rights reserved.

NewsBlock © 2019 - 2020. All rights reserved.


While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

Featured Image from Shutterstock


Nick Chong , 2019-11-10 12:00:38

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