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Bitcoin Price Growth Doesn’t Affect Crypto Mobile App Downloads

Cryptocurrencies still need time to capture the attention of common people.

Cryptocurrencies are certainly growing and the bull run has also started after a long wait since Dec 2017, fall down, with a mounting price of Bitcoin which is having a total market dominance of 61.4% and currently trading at a price of $11,044.19, at the time of writing. The price of the leading cryptocurrency has tumbled down contrasting to the last month and the correcting is still visible in the crypto trading market.

With various on going speculations and new analysis from the market experts, a new research has also shown that the surge in the bitcoin price not much affecting the people world over and the market still has to show its charm to create the enthusiasm globally. Bloomberg has reported on June 28, under its market section update.

Reportedly, there is a compressing sign which has come to the notice of App Annie- a mobile app analytics firm and market data platform which aids the developers to build a quality app business. The data claims that from Jan 2019, till date i.e., in the 1st six months, there has been hardly 67 million crypto app downloads seen in the mobile devices as compared to the last year data of the same time which shows around 65.8 million users downloaded the crypto apps. Meaning,  the 1st half of 2019, only shown an increase of 1.82% and that too be in the rising market. The research is reflecting that crypto is still not a hot topic for the people worldwide including U.S. which is considered to be one the most developed nations and possessing the major ranking of cryptocurrency ATM’S (3229), according to the data shown by BTC ATM tracker website CoinATMRadar as on June 25, 2019.

The information in the report displays that now people are searching and looking forward to downloading the relevant apps related to the particular industry in the fiancé group from Google Play store or Apple App Store.

Bitcoin, Ethereum Keyword Search on Google Fall Down

According to the app tracker statistics and Bloomberg’s report, the number of downloads was 15.3 million in 2016, and in the 1st half of 2017, it reached 28.2 million. The progress in 2019, comparing to the past years is not quick and loud. Allegedly, research on Google for keywords like Bitcoin, cryptocurrency, blockchain is also not that intense which was visible approx. 5 times higher in December 2017, and now it has reduced to over 73%. At that time, approx.… 19,000 people joined Bitcoin subgroup of Reddit, presently numbers are less and revolving around 11,000, according to Archive.org. The current stats show that Bitcoin rally is unable to create much eagerness among the people due to various reasons like an increasing number of hacks, price volatility, uncertain government regulations towards the Gold 2.0. However, this year the number of institutional players have increased towards the adoption of Bitcoin and also focusing on other lucrative altcoins.

The reports further indicates the latest research of Genesis capital- an affiliate of Genesis Global Trading, which says that the bull run in the cryptocurrency industry has come due to the entry of institutional market players, not the retail investors. It depicts that the activities from the institutional investors raised high from two to three times compared to the last 12 months record.

Tags: Bitcoin, Cryptocurrency, Cryptocurrency Apps, Blockchain, Alt coins, institutional investors, Genesis Capital, CoinATMRadar, Bloomberg, App Annie, Gold 2.0.