Cryptocurrency Mobile App Downloads Not Increasing Despite Surge
According to Bloomberg, despite bitcoin’s recent price surge, the Cryptocurrency Mobile App Downloads rate and cryptocurrency-related mobile applications download rate is not increasing.
Per data from mobile app analytics firm App Annie, in the first half of 2018 there were 65.8 million cryptocurrency-related app downloads but in the first six months of this year there were 67 million. This is an increase of about 1.82%.
The first half of 2017 saw 28.2 million crypto apps downloads from 2016’s 15.3 million, a 45% increase.
Apps related to the industry were determined by looking for apps including words like bitcoin, cryptocurrency, or blockchain in their description in the finance category of the Apple App Store or Google Play store.
Bloomberg reported that the number of relevant apps is up 35% from January 2018 and points out that searches for bitcoin are down 73% from December 2017.
The report suggests that low crypto app growth is an indicator of low consumer enthusiasm for the asset class, despite the recent rally.
Crypto enthusiast, Mike Novogratz, last week predicted that Bitcoin’s price will stabilize between $10,000 and $14,000.
Cryptocurrency is gradually taking over the globe. If the rate of awareness of cryptcurrency continues with this speed it has now, by 100 years to come the fiat currencies might gradually be going into extinction. It should be noted that with the advent of Facebook into the cryptocurrency space, the cryptocurrency industry’s awareness has doubled or even tripled and this will bring the much needed boost which cryptocurrency needs.
If other giants like Amazon, Google should issue a cryptocurrency, there will be what will be termed as the “Cryptocurrency Revolution” at your door steps. It has been reported that interest in cryptocurrencies and cryptocurrency related products poses risks to banks. The number of cryptocurrency mobile app downloads will definitely overshadow the download space and charts in the coming years.