By Max S - Cryptocurrency Enthusiast - 09-07-2021
As Bitcoin (BTC) trades sideways after falling below $33,000 on Thursday, Galaxy Digital CEO Mike Novogratz makes some geopolitical remarks about the market conditions and industry.
Novogratz stated that the price to buy crypto giant, Bitcoin, is now consolidating between $30,000 and $35,000. The price implies that the crypto community in the United States is now assuming the leading position in the market despite a bearish trend in Asia.
Novogratz stated that if you run a hedge fund and you are also having a hard time "getting whacked in your rate position and your equity position and your oil position, you’re probably going to sell some of your crypto as well," he explained.
After the coin reached an all-time high of around $64,000 in mid-April, Bitcoin steadily declined in recent months. Since the decline, there have been environmental concerns about Bitcoin mining, with crackdown measures toward crypto investments and mining seen by the Chinese government.
The overall sentiment in the crypto markets has deteriorated to "extreme fear" levels due to several actions taken by global financial regulators against Binance, a large cryptocurrency exchange platform.
Nonetheless, despite the market's growing concerns, certain significant companies in the United States have maintained their attempts to further develop the business in the country. Gryphon Digital Mining, a prominent U.S. mining business, purchased a large crypto mining rig from Bitmain. This Chinese mining powerhouse had to cease its spot sales owing to China's ban on crypto mining on Thursday.
In June, Miami Mayor Francis Suarez officially welcomed foreign crypto mining companies to explore installing data centers in the city after Chinese miners surrender.
If you are looking to Buy and Sell cryptocurrency but you’re not sure where to buy Bitcoin or other popular crypto; you can head over to BC Bitcoin and register an account to start trading 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