Bitcoin Price Move Likely Affected Due To Halving And Covid-19 Crisis
By Luke Flowers – Crypto Broker
With the halving about to occur soon, analysts and experts alike are interested in seeing what becomes of the network. There are many Bitcoin miners on the network and with the reward reducing this could see many stop mining. People are looking at historical indicators on what could happen after the halving but are also factoring in the current pandemic and the part that could play in any possible movement.
Bitcoin’s halving is due to happen in May. In a month, the prices can either rise or reduce, but after the event, Bitcoin’s supply gets halved. Most experts are assuming a positive impact on the price in the long term, which is good for people who are currently holding onto and looking to sell Bitcoin. The future scarcity could lead to people buying Bitcoin, driving the price up.
Since the creation of Bitcoin, halving has proven to be a turning point. While history isn’t always perfect when describing the future, it can often be an indicator, and an increase in Bitcoins price has occurred shortly after previous halving’s. There are those who disagree, however, with the CSO at CoinShares Meltem Demirors, among others, still believing that halving won’t impact the price as major trading takes place within Bitcoin derivatives. Many people still wish to buy Bitcoin so they own and control it whilst also using its functionality.
At BC Bitcoin we offer a trusted service on our website if you are interested in buying and selling Bitcoin as well as other cryptocurrencies. We can exchange crypto to fiat or hold your cryptocurrency for you to sell later as we are the most trusted Bitcoin broker in the UK.
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