At the lowest – Bitcoin records week after week declines in its price. This sometimes long period for investors is dragging companies in the crypto sector down with it. Like the king of cryptocurrencies, BTC ATMs are also struggling. Building on dynamic growth in 2021 Propelled by positive markets, bitcoin adoption in El Salvador, ATM Bitcoin is looking bleak, and its May review doesn’t seem to show hope.
A long winter for Bitcoin ATMs
Present in the four corners of the world Bitcoin ATMs have been able to develop, according to so-called pro-crypto companies and institutions. Scattered mainly in South America, certain businesses such as Tahini restaurants or even stores walmart we also made the choice to acquire these large orange boxes in their shops.
However, all good things come to an end. The results for the month of May for the business of cryptocurrency distributors are catastrophic. It records only 202 distributor sales. These are his worst results since 2019.
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Bad weather for BTC distributors
But then, why this slowdown? Several avenues open to us to explain these unfortunate results:
- international geopolitical tensions;
- increasingly pronounced anti-cryptocurrency regulation in certain countries;
- market saturation;
- the economic consequences of the Covid 19 pandemic.
Thus, since January 2022, the company has continued to see its sales decrease. The company then delivered 1969 Bitcoin ATM in December 2021, against 1687 in January 2022. 5 months later, therefore, she only sells 202.
Regulatory wrath weighs on Bitcoin and by extension on these distributors who nevertheless use a reliable, secure network whose speed is well established. However, the beginning of June offers a glimmer of hope. In effect, Bitcoin ATM has recorded 817 ATM sales in the first 5 days of June. This result is already more than twice as high as the poor scores for the month of May.
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