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Bitcoin ATMs popular in Canada, the United States, and Latin America

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• Bitcoin Depot has installed over five thousand Bitcoin ATMs.
• El Salvador allowed the installation of several BTC ATMs after legalizing cryptocurrencies.

One of the most popular Bitcoin ATM companies in Canada and the United States, Bitcoin Depot, reveals that it has set a new record in ATM installation. The ATM company has announced that it completed the installation of 5,000 crypto-ATMs in its countries of operation.

Since the beginning of the year, Bitcoin Depot has not rested in giving access to all crypto enthusiasts with its ATMs. The company is working three times longer than normal, which has pushed its production to staggering levels.

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Bitcoin Depot creates perfect link to cryptocurrencies

Bitcoin ATMs

With Bitcoin ATMs, cryptocurrency fans have the perfect link to invest their money. The United States and Canada have given Bitcoin Depot access to fill the region with their ATMs to buy and sell Bitcoin with their fiat currency. The company has also reached countries in Latin America where the fever for the decentralized market is on the rise.

Bitcoin Depot has grown, but not only because of its dedication to creating ATMs but also because of the partnerships that have strengthened it. The latest link of the crypto company is with Circle K, one which has allowed them to increase its Bitcoin ATMs.

The company is currently in its best moment with Bitcoin reaching new levels of adoption in North America, Canada, El Salvador, and other countries. Bitcoin Depot offers security and a solid crypto transaction system.

Bitcoin ATMs have become a priority for Salvadorans

The cryptocurrency market is on the rise, and with it, the BTC ATMs gain value. One of the new participants in the crypto market is El Salvador, which opens the doors to decentralized commerce with its president Nayib Bukele.

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Bukele authorized the use of Bitcoin as legal tender and allowed the ATMs installation. Although it is not known how many ATMs exist in the Central American country, maybe Bitcoin Depot was involved in their installation. Considering that the company is one of the most popular in that part of the world and is one step ahead in adopting cryptocurrencies.

Although the crypto landscape looks wonderful for ATMs, these products are not far from vulnerable. In the United States, some Bitcoin ATMs have been hacked, which has brought millions in losses.

According to reports from Kraken Security, many of these crypto ATMs have a basic security system where the managers have not changed their QR. It is easy for virtual hackers to steal data and money at these ATMs with a predetermined two-dimensional code. However, the companies in charge of these crypto-ATMs have promised to put in the hours required to fix the failure.

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Peter Schiff Names Real Reason Behind Bitcoin Drop

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Popular digital assets critic believes that measures against inflation are the real reason behind the most recent market correction

The famous Bitcoin and crypto critic, Peter Schiff, provided his Twitter subscribers with a potential reason behind one of the largest corrections on the cryptocurrency market this year.

According to Schiff, Bitcoin’s correction was tied directly to the Fed’s action toward risk assets like cryptocurrencies and some stocks. Previously, Jerome Powell hinted that tapering might happen sooner than the market expects.

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In addition to the end of the quantitative easing monetary policy, Powell has stated that the point rate may be increased sooner than was expected due to the inflation’s change of nature, which has become a real threat to the country’s economic safety and stability.

All of the actions that the Fed is currently taking are designed to control inflation, which is currently hitting highs previously observed back in the Depression era.

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High-risk assets like Bitcoin and other digital assets were allegedly considered a store of value for those who wished to protect their funds from increased inflation. Schiff is a widely known critic of cryptocurrencies, and he believes they should not be considered an inflation hedge.

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Whales Suddenly Move $320,000,000 in Bitcoin to a Single Destination – Here’s Where the Crypto Is Headed

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Crypto whales just moved over 5,800 Bitcoin (BTC) worth more than $327 million into a single destination, according to a whale-surveilling platform.

Whale Alert tells its 1.8 million followers in a series of tweets that in the last 24 hours crypto whales are relocating thousands of BTC amid a correction that saw Bitcoin tumble to a new 30-day low of $52,416.

Five of the transactions involved shifted BTC from wallets of unknown origins to popular US-based crypto exchange Coinbase. Meanwhile, one transaction moved a large sum of Bitcoin from global crypto exchange Binance to Coinbase.

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Here’s a summary of the BTC transactions:

While crypto investors tend to be concerned that a massive influx of Bitcoin into the crypto exchanges might indicate downward selling pressure, insights firm Into the Block reports that centralized exchanges recorded more outflows than inflows during the past week.

The crypto intelligence platform says,

“Bitcoin recorded nearly $2 billion in net outflows from centralized exchanges, the highest level in five weeks.”

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At time of writing, BTC is down nearly 7.14% on the day to $52,557.

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Ethereum Price Analysis: ETH drops 25 percent from previous swing high, ready to recover?

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  • Ethereum price analysis is bullish today.
  • ETH/USD rejected further downside at $3,600.
  • Previous support at $3,950 is currently tested as resistance.

Ethereum price analysis is bullish today as we expect further recovery to follow after a strong reaction higher from the $3,600 was seen this morning. Likely ETH/USD is set to break above the current resistance, moving to regain even more over the weekend.

Ethereum Price Analysis: ETH drops 25 percent from previous swing high, ready to recover? 1
Cryptocurrency heat map. Source: Coin360

The market has seen strong bearish momentum over the last 24 hours. The market leader, Bitcoin, has lost 17.23 percent, while Ethereum 14.83 percent. Meanwhile, the rest of the market has seen even more substantial losses.

Ethereum price movement in the last 24 hours: Ethereum breaks below $3,950 previous support, rejects more downside at $3,600

ETH/USD traded in a range of $3,739.39 – $4,647.29, indicating extreme volatility in the market. Trading volume has spiked by 113 percent, totaling $41.2 billion, while the total market cap trades around $465 billion, resulting in the market dominance of 21.16 percent.

ETH/USD 4-hour chart: ETH reacts back to previous lows

On the 4-hour chart, we can see the Ethereum price swiftly rejecting further downside after touching the $3,600 mark this morning.

Ethereum Price Analysis: ETH drops 25 percent from previous swing high, ready to recover?
ETH/USD 4-hour chart. Source: TradingView

Ethereum price action saw strong bullish momentum during the first half of the week. After establishing and retesting the new low at $3,950 last weekend, ETH/USD started to move higher on Monday quickly.

Ethereum reached $4,750 resistance by Wednesday, as bulls were eager to move towards the previous all-time high. However, more upside did not follow, leading to a reversal over the next days.

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Another attempt to test upside was seen Yesterday, with the following rejection leading to a strong spike lower. Overnight, the Ethereum price broke past the previous swing low at $3,950, leading to more downside this morning. Strong reaction, preventing further downside, was seen at $3,600, with ETH/USD since moving back towards the previous low.

Ethereum Price Analysis: Conclusion 

Ethereum price analysis is bullish today as we saw a swift drop to $3,600 met with a strong reaction higher this morning. Therefore, we assume ETH/USD has set a new swing low, and further recovery should follow over the weekend.

While waiting for Ethereum to move further, see our articles on the Best Crypto Wallet 2021, Decred Wallet, and Ripple vs SEC.

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