Bitcoin Continues to Rise in 2019: but where is the explanation for it?
By Jamie Green – Crypto Expert
The crazy ride of the digital currency markets proceeds with its climb. In 2018, Bitcoin and the other cryptographic forms of money dove after a high finish to 2017, however in 2019, this market is increasing and the sentiment to buy Bitcoin at a steady pace.
Over the most recent couple of days the value of Bitcoin has increased again and reached $11,000 as per CoinMarketCap, a valuation that was not come since November 2018 and the recent rise is the most noteworthy of 2019 so far. The reasons why more people are buying Bitcoin are not clear but could co-inside with Facebook’s recent announcement of Libra, putting crypto in the spotlight once again.
270% Growth since the Beginning of the Year
Bitcoin has increased in value over 2019 by around 270% since the start of the year, and not surprisingly, this improvement in sentiment has been passed onto the other cryptocurrencies in the market and even many securities are developing alongside this.
Information around the globe of cryptographic money did not appear to predict these developments. Libra, though bringing cryptocurrencies to the limelight, has received negative press. Even the markets most popular stablecoin for buying and selling Bitcoin, Tether, has received bad publicity as it was disclosed the Dollar-backed crypto is only supported by 74% of genuine fiat money.
This digital currency is one of many known as a stablecoin. Backing the token with a physical asset hypothetically gives them lower unpredictability and a specific degree of certainty. Nonetheless, the Attorney General of New York is researching the digital money showcase Bitfinex and Tether for supposed extortion and manipulation.
The capitalization of Bitcoin from November 2018 up to present has seen an increase of 100 billion dollars, which is 50% of the market cap of Bitcoin at the time. It goes to say that selling and buying Bitcoin can be a thrill of a ride.
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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 firstname.lastname@example.org 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 email@example.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 firstname.lastname@example.org Kind Regards