CJ - Cryptocurrency Enthusiast
Bitcoin's turbulent start to the week has been compounded by the failure of First Republic Bank, which marks the second-largest bank failure in the United States. This news has led to potential downside pressure for Bitcoin, which was already facing volatile price action at the start of the week.
After trading sideways over the weekend, BTC/USD began the week facing downside pressure, with prices stabilizing below $29,000. However, the failure of First Republic Bank and its takeover by JPMorgan Chase has added to the potential downside risks for Bitcoin. These events have occurred at the start of a heavy week, in which the Federal Reserve will reveal its next interest rate shift.
As a result, the potential for continued surprises in crypto market investment is clearly evident, with much to take in this week.
Bitcoin experienced classic flash volatility as it entered a new weekly and monthly candle after April's sideways trading. BTC/USD quickly dived lower as bid liquidity was pulled from the Binance order book, leading to local overnight lows of $28,289 on Bitstamp. This has led some analysts to predict potential strength returning to altcoin markets.
If you're interested in staying up-to-date on the latest news and analysis of the crypto markets, visit a BTC broker BC Bitcoin, where you'll find a range of informative articles and resources on Bitcoin and other cryptocurrencies.
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