Despite bitcoin’s (BTC) recent price surge, the download count of cryptocurrency-

related mobileapplications is not increasing, Bloomberg reports on June 28

Data form mobile app analytics firm App Annie shows that, while in the first half of
2018 there were 65.8 million cryptocurrency-related app downloads, in the first six
months of this year there were 67 million, an increase of about 1.82%.

This growth is not nearly as sharp as that reported in previous years, considering that
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 individuated 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 also notes that the number of
relevant apps is up 35% from January 2018 and points out that searches for bitcoin are
down 73% from the peak registered in December 2017.

The report postulates that low crypto app growth is an indicator of low consumer
enthusiasm for the asset class, despite the recent rally. Indeed, recent research from
institutional crypto lender Genesis Capital — an affiliate of Genesis Global Trading —
indicates that institutional participation in cryptocurrency markets is on the rise, and
could be a driver of the recent bull market.

As Cointelegraph reported earlier this week, veteran trader and author Peter Brandt
predicted in a recent market forecast that bitcoin will continue to grow, but altcoins will
not feel the benefits.

Also this week, Galaxy Digital founder and crypto enthusiast Mike
Novogratz predicted that Bitcoin’s price will stabilize between $10,000 and $14,000.