Bitcoin’s price has increased by more than 65% over the past 12 months. With the growing adoption of Bitcoin and other cryptocurrencies, the infrastructure in the cryptocurrency market is also improving.
Bitcoin ATM’s Globally Surge by More Than 100% From 2020
Recent data obtained from CoinATMRadar, a platform dedicated to tracking the number of cryptocurrency ATMs in the world, has revealed that the number of bitcoin ATMs globally has increased by more than 100% over the past 12 months.
A Bitcoin ATM is an Internet-connected kiosk that enables customers to buy bitcoins using fiat currencies. Users can also sell their bitcoins for fiat currencies using the Bitcoin ATMs. The Bitcoin ATMs are not the same as the regular automated teller machine (ATM) that allows bank customers to physically withdraw cash from their bank accounts. Instead, the Bitcoin ATMs blockchain-based transactions that send the bitcoins to a user’s digital wallet, often via the use of a QR code.
At the start of 2021, there were approximately 14,000 Bitcoin ATMs installed globally. The number has grown to 34,000 towards the end of 2021, an increase of roughly 20,000 Bitcoin ATMs within 12 months.
The United States has the highest amount of Bitcoin ATMs in the world, with 30,123 available in the country. Its North American neighbor Canada comes in second place, with 2,216 Bitcoin ATMs installed in the country, while Bitcoin-friendly El Salvador took third place with 205 Bitcoin ATMs.
Bitcoin ATMs are available in virtually every continent in the world, including Europe, Asia, South America and Africa.
Bitcoin Slips Below $50k Again
Bitcoin performed excellently over the weekend, surpassing the $50k level. However, the recovery didn’t last long as the leading cryptocurrency slipped below the $50k mark again yesterday. At press time, BTC is trading above $47k, with the technical indicators showing that the cryptocurrency is currently struggling.
BTC is trading below its 50-day moving average of $53,403. It has traded below that level for the past three weeks. The MACD line stayed below the neutral zone following the latest bearish performance, while the RSI of 39 could dip lower if the current market momentum is maintained.
Bitcoin will need to support the support level at $44k to stand a chance of resuming its recovery soon. A slip below the $44k support level could result in further losses for the leading cryptocurrency.
This article was originally posted on FX Empire