Bitcoin Price to Rally Even Higher, Says CNBC Crypto Analyst
By Luke Flowers – Crypto Broker
From the looks of it, the $8,000 support level appears to be an important one for the original cryptocurrency Bitcoin (BTC). Since plummeting from the $9,400 mark, the crypto market leader has lost and regained the $8,000 level several times, where it was holding up at $8,200 at the time of writing.
Usually, Altcoins follow Bitcoin in terms of price, which makes the crypto giant’s activity a huge example of how the current market state could be like. If sentiment is to sell Bitcoin and a dump initiates, the other coins can experience similar effects.
Following the enormous $1,700 price drop on September 24 that saw many sell BTC, the market of cryptocurrencies has taken a few steps back to evaluate the situation. Popular Twitter crypto analyst ‘Big Cheds’ says the days ahead will probably be bearish for the crypto space in the short-term but remains bullish for the long run with increasing demand to buy and sell Bitcoin.
On October 6, Cheds said that Bitcoin closed out another weekly candle with a tweezer bottom. The candlestick pattern only shows when two price candles upper and lower wicks align to form the shape of tweezers.
This pattern can also be an indication of a reversal in an asset’s price movement. Candlestick formations and patterns typically have strength based on their candle time frame strength, with larger time frame candles that have more importance. If the larger time frame candlesticks suggested a negative reversal, many could sell cryptocurrency as they believe it could fall further.
Always remember you can sell Bitcoin UK to Exchange Bitcoin to GBP through your local cryptocurrency broker.
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