Dave - Cryptocurrency Enthusiast
Fractals of Bitcoin (BTC) have largely not moved, and prices have been consolidating in the same ranges. Despite the network's hash rate rising and reaching new highs over the previous few weeks, this is still the case. The market leader's and the rest of the crypto market's future course will therefore be decided in large part over the course of the next few weeks.
Because Bitcoin price hasn't experienced a strong bounce, the weekly and monthly charts remain gloomy. More particular, the price of BTC has been harshly rejected from key resistance levels, which may potentially significantly weaken any near-term bullish rally. According to a tweet from @glassnodealerts today, the mining difficulty, or hash rate, for the BTC network has been increasing daily to new highs.
The social media post continues by noting that the mining difficulty for Bitcoin (BTC) has recently risen to an all-time high (ATH) of 158,208,051,864,292,013,637,632. The network's previous hash rate ATH was 152,947,196,320,564,012,646,400 and was recorded on October 23, 2022.
Over time, miners may decide to stop using their mining equipment as the mining difficulty for BTC rises and the price of BTC remains largely stable, which will cause a significant capitulation phase.
In reality, a significant surrender that might drive the price of the dominant cryptocurrency down below $11,000 is rapidly approaching. This is due to the fact that it appears the asset has not yet reached a bottom as selling pressure has continued to build on a monthly basis. As a result, a bearish closure for the price of BTC is probably in store for the year's finish.
If you think now is the right time and looking for the best place to buy Bitcoin, we suggest BCBitcoin – a crypto broker that also serves as a platform for various other services such as buying and selling Bitcoin or other cryptocurrencies, storing crypto assets in private customer accounts, top-notch customer support who can help you with any crypto-related questions.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards