Demand for Bitcoin does not Slow through March Price Crash
By Luke Flowers – Cryptocurrency Enthusiast
Bitcoin, the leading digital asset on the market saw no loss of demand as people were buying cryptocurrency during the march downfall of price, as observed by Coinbase.
Immediately after the WHO publicly stated that Coronavirus had developed into a pandemic, investors began to sell large amounts of their liquid assets, stocks and Bitcoin. Flights across Europe quickly halted, and countries began to take preventive measures of lockdown.
In all such circumstances around the world, the cryptocurrency market did not stand alone in suffering. Gold, equity, and even oil prices dropped. The amount of leverage in the local markets is approximately 2-3x. In contrast to this, Bitcoin has different exchange offers of 100x and up leverage but this can be risky in the case of the market going against expectation.
The same report also states that the ratio of digital asset buyers is usually 60%, which is 50% more than the sellers. However, during the crash it raised to 67%. Expectedly, users choose to buy Bitcoin the most among all cryptocurrencies.
Coinbase also noticed a 5x increase in the deposits of cash and cryptocurrency. Added to this, a 2x increase in new-user sign-ups was noticed. The nature of cryptocurrencies themselves leaves one to question if their position within financial markets is strengthened by the foundations they are built on.
You can head over to the BC Bitcoin site to Buy and Sell cryptocurrency from a trusted Bitcoin broker UK.
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