The ATM ecosystem of Bitcoin has been affected by the long-going bear market. The BTC experienced the lowest growth rate in September 2022. It happened for the very first time now in global net installations. The main reason for this can be considered as the slowdown in the US.
The number of Bitcoin ATMs installed went down to around 37,980 in September. This downward move was indeed not a good position for the BTC. This also affected the growth of the organization in several ways. First, the BTC went down to its lowest from its highest position of 38,776 ATMs which was achieved just in the previous month in August. This created a drop of -2.05%, which CoinATMRadar reported. The data regarding the ATM installations on the internet provides complete validation that in September, around 796 ATMs of BTC were taken away from the worldwide market.
Just in the US, the reduction of ATMs happened for around 825. But there is another picture perspective where some of the new ATMs were installed. So in, some regions of the world, including Europe and Canada, and some other areas, backed up the downfall of ATMs by installing new ones locally.
Even after undergoing a significant downfall, there are speculations that BTC is still maintaining itself. As per the data, it is said that around 14 crypto ATMs are getting installed worldwide every day. Currently, Genesis Coin possesses the maximum share of crypto ATM, around 40.3%, while seeing the shares of other manufacturers. The following most famous manufacturers are General Bytes and BitAccess.
The most crucial reason behind the dip in ATM growth can be considered as the geopolitical tensions happening globally. Currently, ATM installations may have gone down but the countries are increasing interest in crypto ATM installation, which indicates an optimistic scenario.
