CJ – Crypto Speculator
In the previous day, BTC's price has decreased 1.21% and is currently trading at $16,583.75
Traders and speculators are unable to pinpoint the bottom for BTC
Only a significant market-wide act of violence will be able to lower BTC below $10,000
According to the cryptocurrency market tracker CoinMarketCap, the cost of the market leader has decreased once again during the past 24 hours. At the time of publication, the price of Bitcoin (BTC) is $16,583.75, a decrease of 1.21%. BTC's weekly performance has also been negatively impacted by this, as its price is currently down 0.88% over the past seven days. As BTC's decline continues, traders and speculators are finding it difficult to predict where BTC's price will bottom out during this bear market. BTC hitting $10,000 in this bear market, according to Twitter user IncomeSharks (@IncomeSharks), is a bit of a stretch.
“It is tougher to make a significant drop the lower we go. It required a record event like FTX with maximum fear and the highest selling volume in history for us to decline by 26%, $10k objectives are an additional 40%... How?”, the tweet said. In contrast to the massive amount of sell activity that was only able to drive the price of BTC down 26% this month with the FTX and general cryptocurrency exchange controversy, the price of BTC dropped 43% between June and July, according to the daily chart for BTC/USDT.
Given the number of sales required and the price movement that would follow the demise of FTX, it is reasonable to assume that only a catastrophic catastrophe would be able to drive the price of BTC below $10,000.
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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