FOMO

Bitcoin

when

<p>The cryptocurrency ATM sector (Crypto ATM) could soon see a significant revival, according to predictions by Brandon Mintz, CEO of Bitcoin Depot. With the anticipated surge in Bitcoin FOMO and the upcoming Bitcoin halving, a new wave of Crypto ATM installations seems to be on the horizon.</p>
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     <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">This morning we released our Q4 results and full year recap for 2023.<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">It was a record year for Bitcoin Depot, setting new highs for revenue and adjusted EBITDA. Get the details here.<a href="https://t.co/PA6EG7lOxj" rel="noopener noreferrer nofollow">https://t.co/PA6EG7lOxj</a></p>— Bitcoin Depot <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@Bitcoin_Depot) <a href="https://twitter.com/Bitcoin_Depot/status/1772273309712826586?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 25, 2024</a>
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  Global leader in Crypto ATMs, Bitcoin Depot reports satisfying results in 2023
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<h2 id="h-crypto-atm-brandon-mintz-anticipates-a-revival">Crypto ATM: Brandon Mintz Anticipates a Revival</h2>
<p>Despite the decrease in Crypto ATM installations in 2023, Brandon Mintz remains optimistic about the future of the industry. In the first quarter of 2024, in fact, there is a notable increase in installations: <strong>1,469 new ATMs installed</strong>, according to <a href="https://coinatmradar.com/charts/growth/" target="_blank" rel="noopener noreferrer nofollow">data from CoinATMRadar</a>. This significant recovery contrasts with the decrease observed around the same period the previous year, where more than 3,000 ATMs had been removed.</p>
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<p>According to Mintz, this positive trend is a promising sign for the Crypto ATM industry. This growth indeed constitutes <strong>a potential indicator of renewed interest</strong> in cryptocurrency cash transactions.</p>
<h2 id="h-an-acceleration-of-crypto-atm-installations-during-the-fomo-period">An Acceleration of Crypto ATM Installations During the FOMO Period</h2>
<p>Generally, the FOMO period often accompanies the Bitcoin halving. Mintz explains:</p>
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 <p><em>«&nbsp;In the past, the increase we’ve noticed mainly occurred after the halving. After the halving, that’s when the price skyrockets. And that’s when the FOMO phase begins.&nbsp;»</em></p>
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<p>This historical trend suggests that <strong>the rise in <a href="https://www.cointribune.com/en/crypto-markets/bitcoin-btc-en/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin (BTC) price</a></strong> often attracts new investors, which could boost the demand for Crypto ATM services.</p>
<p>Despite the optimistic outlook, Mintz acknowledges, however, that the industry has encountered obstacles. Specifically, the <strong>bankruptcy of several cryptocurrency companies</strong> (including Coin Cloud in February 2023) which has had a significant impact on the market.</p>
<h2 id="h-what-predictions-for-the-industry">What Predictions for the Industry?</h2>
<p>Bitcoin Depot plans to <strong>install 940 new ATMs</strong> at convenience stores in 24 U.S. states in the first quarter of 2024. Meanwhile, other ATM operators continue to play a major role in the Crypto ATM landscape. This is particularly the case with Coinflip and Bitstop.</p>
<p>Despite past challenges, the Crypto ATM industry thus appears to be moving towards a new <a href="https://www.cointribune.com/installation-datm-bitcoin-btc-laustralie-cree-la-surprise-et-squatte-le-top-5/" target="_blank" rel="noopener noreferrer nofollow">growth phase</a>.</p>

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

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