Crypto ATM: A new wave expected with the rebound of Bitcoin

 Crypto ATM: A new wave expected with the rebound of Bitcoin

The crypto ATM (Crypto ATM) industry could soon see a significant revival, according to predictions from Brandon Mintz, CEO of Bitcoin Depot. With the expected rise of Bitcoin FOMO and the impending Bitcoin halving, a new wave of Crypto ATM installations appears to be on the horizon.

Crypto ATM: Brandon Mintz anticipates a revival

Despite Crypto ATM installations declining in 2023, Brandon Mintz remains optimistic about the future of the industry. In the first quarter of 2024, there was indeed a notable increase in installations: 1,469 new ATMs installed , according to data from CoinATMRadar . This significant recovery contrasts with the decrease seen around the same time last year, when more than 3,000 ATMs were removed.

According to Mintz, this positive trend is a promising sign for the crypto ATM industry. This growth is indeed a potential indicator of a renewed interest in cryptocurrency cash transactions.

An Acceleration of Crypto ATM Installations During the FOMO Period

Generally the FOMO  period often accompanies Bitcoin halving or Bitcoin halving. Mintz explains:

This historical trend suggests that rising Bitcoin (BTC) prices often attract new investors, which could boost demand for Crypto ATM services.

Despite the optimistic outlook, however, Mintz acknowledges that the industry has encountered obstacles. In particular, reference is made to the bankruptcy of several cryptography companies (notably Coin Cloud in February 2023) which had a significant impact on the market.

What are the forecasts for the industry?

Bitcoin Depot plans to install 940 new ATM Crypto ATMs in convenience stores across 24 states in the United States in the first quarter of 2024. At the same time, other ATM operators continue to play a major role in the landscape Crypto ATMs. This is particularly the case for Coinflip and Bitstop.

Despite past challenges, the crypto ATM industry seems to be heading towards a new phase of growth .