Ethereum Enduring It's First First Big Bear Market as Bitcoin did in 2015
By Luke Flowers – Cryptocurrency Speculator
Chris Burniske, Placeholder partner and crypto investor, believes Ethereum is entering its first-ever mainstream bear market, like Bitcoin (BTC) did between 2014-15.
According to a tweet posted on August 20, Burniske realised that the period served as the best time for best risk/reward for investors to get buy Bitcoin and gain exposure.
Burniske spoke with Cointelegraph adding:
“To objective observers, the network’s momentum was clear despite the bearish price action. Burniske also went on to add “what happened to $BTC then is happening to $ETH now.” As suggested by Burniske, this could be a good opportunity for new users to buy Ethereum.
In response to Burniske’s comments about ETH’s price action, Changpeng Zhao, founder of crypto exchange Binance, tweeted the following about the Ethereum blockchain being almost full:
“I like Vitalik & ETH, but speed & capacity was a problem a year ago, but now a largely solved problem for newer blockchains (for now)”.
Zhao believes that new projects need to increase the real applications for people to use to increase adoption and reach new limits and bottle necks to overcome. Many speculative traders and users buy and sell Bitcoin to try and make a small profit or learn about the technology, but the next wave will be looking for applications.
Buterin replied that the scalability issues are “not solved at all,” saying that even the newer semi-centralised blockchains could only process hundreds of transactions per second. Far from the transactions per second needed for mainstream adoption of buying crypto for everyday use. He claims that EOS has already encountered scalability bottleneck issues would in turn could affect the rate of those looking to buy EOS.
If you’re looking to increase your exposure and buy Bitcoin UK, then head on over to our platform, your trusted Bitcoin 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