By Max S - Cryptocurrency Enthusiast - 11-08-2021
The availability to buy Bitcoin (BTC) has drastically decreased on the futures market and has recently hit its low point in mid-May. The initial decrease in May was due to the crypto crackdown in China. For a different reason, Bitcoin reserves on derivatives markets have fallen again to levels not seen since the initial price meltdown of the year.
According to a report on an analytics platform, CryptoQuant, data shows that on Tuesday this past week, derivatives reserves totalled a shockingly low 1.256 million BTC.
While the fall in price for buying Bitcoin continues, figures reveal that large players have increased their BTC holdings during the slump. Investors who continue to add and buy more Bitcoin investments come while institutions turn back to cryptocurrency products like the Grayscale Bitcoin Trust (GBTC).
One particular analyst took to Twitter to comment on the situation while simply stating, "big money has been buying," this statement appears to be regarding how many organizations have been making large Bitcoin transactions lately.
The crypto analyst, William Clemente III, further went into detail and explained how "entities with 10K-100K BTC have added +269,450 to their holdings ($12.1B)," these figures were a result of after the initial crypto crash on 19th May as more investors put more money into the market. William further mentions how companies investing in Bitcoin have now dedicated around $450M to $4.5B of their capital to the crypto coin giant. These organisation's investments may be one of the leading factors for Bitcoin gaining momentum again after the worst crash in May.
If you are looking to Buy and Sell cryptocurrency, then you can head over to BC Bitcoin where you can safely start investing today.
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