Despite the recent increase in Bitcoin (BTC) prices, the number of mobile applications downloaded for crypto-currency is not increasing, reports Bloomberg on June 28.
App Annie's mobile app analytics data show that while in the first half of 2018, there were 65.8 million downloads cryptographic in the first six months of this year, it was 67 million, which is 1 , 82% more.
This increase is not as sharp as in previous years, given that in the first half of 2017, 28.2 million cryptographic applications were downloaded from 15.3 million in 2016, up 45%.
Apps that are affiliated with this industry have been individualized by searching for applications, including words such as bitcoin, crypto, or blockade in their description in the finance category of the Apple App Store or the Google Play store. Bloomberg also notes that the number of applications has increased by 35% since January 2018 and indicates that Bitcoin searches are down 73% from the peak registered in December 2017.
The report postulates that the low growth of cryptographic applications is indicative of low enthusiasm of consumers regarding the asset class, despite the recent rally. Indeed, recent studies by Genesis Capital, an institutional creep trader (the Genesis Global Trading subsidiary), indicate that institutional participation in cryptographic markets is increasing and may be the driving force behind the recent bull market.
According to Cointelegraph earlier this week, the veteran trader and author Peter Brandt predicted in a recent market forecast that Bitcoin will continue to grow, but altcoins will not benefit.
Also this week, the founder of Galaxy Digital and crypt-enthusiast Mike Novograz predicted that the price of Bitcoin will stabilize from $ 10,000 to $ 14,000.