Crypto Industry News:
In 2020, there was a sharp increase in the number of ATMs that handle digital coins. As of today, the total number of Bitcoin ATMs has surpassed 10,000 worldwide.
According to Norwegian financial services company AksjeBloggen, the number of Bitcoin ATMs (BTMs) increased by 87% last year from 5,336 registered in September 2019. In 2020 alone, almost 3,900 new ATMs were added. Monitoring the CoinATMRadar asset shows that there are currently 10,014 ATMs in 71 countries that allow users to buy and sell Bitcoin and altcoins for cash.
Today, the United States leads the world market with a significant lead, with over 7,800 BTM. Canada ranks second with 869 machines. Depending on the device, crypto holders can buy and withdraw, among others Bitcoin, Ethereum, XRP and others.
However, adoption is not growing everywhere. CoinATMRadar data shows that Austria was one of the few countries with negative installation growth since 2019. The country currently has 149 BTMs, up from 244 in September 2019. This decrease may be related to the regulatory atmosphere, namely the new regulations in neighboring Germany, which only has 27 BTMs. Machine owners are now required to obtain a license from the national financial regulator, BaFin, to operate. German companies can be held liable for unlicensed Bitcoin ATMs on their premises, regardless of who owns them.
Technical Market Outlook:
The BTC/USD pair has reversed back to the channel after the quick breakout and rally to the level of $11,039. The momentum behind the move up was visible lower than usual momentum, so not so many bulls participated in the breakout. The zone located between the levels of $11,062 - $11,222 is still seen as the supply zone and if there is no breakout higher above this zone in the coming days, then the market might be moving sideways for some time and event reverse lower again. The nearest technical resistance is seen at the level of $10,890 and $10,940 and the key short-term technical support is seen at the level of $9,922. The weekly time frame trend remains up.
Weekly Pivot Points:
WR3 - $11,302
WR2 - $10,908
WR1 - $10,609
Weekly Pivot - $10,206
WS1 - $9,887
WS2 - $9,466
WS3 - $9,157
Trading Recommendations:
The weekly trend on the BTC/USD pair remains up and there are no signs of trend reversal, so buy orders are preferred in the mid-term. All the dynamic corrections are still being used to buy the dips. The next mid-term target for bulls is seen at the level of $13,712. The key mid-term technical support is seen at the level of $10,000.