By Ollie H - Cryptocurrency Professional - 01-10-2021
Recently, a crypto veteran has come forward to state that the price to buy Bitcoin (BTC) is likely to reach the $100k mark in a FOMO (fear of missing out) rally. The co-founder of BTCC, a well-known cryptocurrency trading platform, Bobby Lee, believes that before the end of the year, Bitcoin's price will increase past $100,000. He stated that if a new bull run comes up, we will see the price rally to the long-awaited milestone. More specifically, Bobby (the brother of Litecoin (LTC) founder Charlie Lee) predicts that the next bull run will be fuelled by investors who fear missing out on the asset.
Lee made his predictions during an interview with Bloomberg. In the interview, the crypto veteran brought up the topic of China's ban on buying crypto and all cryptocurrency transactions. The ban led to all cryptocurrency exchange platforms having to shut down their services within the country, to which Lee stated that this was to be expected for quite some time. Lee explained that all mining companies that operated with a Proof-of-work (PoW) consensus had to leave the country due to their hardware usage.
In comparison to mining companies, Lee noted that people can still stake cryptocurrency within China due to its lack of need for hardware making it hard for the government to trace activity. However, Lee stated that the negative news that was long overdue is now out of the way, which leaves space for the cryptocurrency to continue growing.
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 email@example.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 firstname.lastname@example.org 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 email@example.com Kind Regards