Dom – Crypto Speculator
The CEO of Onchain Capital, a cryptocurrency investment fund and advisory service, Ran Nuener, commented about the cryptocurrency market's lack of movement. He tweeted that "most channels and artists have taken a pause, cut back, or even quit in the bear market in an effort to raise awareness of the problem. We're going all in.”
A bear market in the cryptocurrency world is a protracted period during which values fall more sharply and the market crashes. According to historical patterns, the current crypto winter began in November 2021 and is expected to last for a while.
During this time of doom, most currencies were known to have seen severe losses. Bitcoin has fought to maintain its $28,000 price over the last two months. Additionally, up to 60% less has been paid for Ethereum (ETH), Cardano (ADA), and Polygon (MATIC).
The whole cryptocurrency investment world has become static, as Nuener noted. The employment freeze affected big businesses like Gemini and Coinbase. The share price of Coinbase fell by 86%.
Nuener also mentioned that the internet world was intensifying its efforts in an effort to bring back the better times. There are "5 programs a day and now weekend material too," he announced. “Looking back, we can see that the previous crypto winter lasted for two years, from 2017 to 2020. Investors and traders are heavily restrained in their expectations that the present bear market would extend in a manner like to that.”
Since the launch of Bitcoin in 2009, the market has gone through three bear markets, with a nearly 70% decrease from its peak.
Although bear market is nothing new to seasoned cryptocurrency investors, the present winter heightens investor apprehension. Inflation was out of control when the current collapse started, which led the US Federal Reserve and other central banks to raise interest rates.
The present break is considerably more restricting than previous ones, as former market bears were not exposed to similar forces.
However, bear markets are known as the best time to do research and start investing in projects where teams are building and moving forward despite the drawback. So, if you are looking to start investing in cryptocurrency now, one of the most trusted cryptocurrency exchange platforms is BCBitcoin - a reputable Bitcoin broker that lets you buy cryptocurrency with a credit card or bank transfer and has more than 190 different coins available on the platform.”.
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