GiveBitcoin has a goal to Create At Least 21 Million New “Bitcoiners” this Christmas SeasonNovember 26, 2019
Bitcoin recovered over $7K after it crashed down to $6,500. A whale movement likely causes the current price dump. Chinese authorities are bullish on blockchain technology, although they are all set to scrutinizing cryptos.
Shortly after the Bitcoin fell to $6,500, the token started with a reversal trend. The digital currency has now recovered to the 7K level.
A twitter user, Ergo, stated, “While the mainstream bloggers are busy writing clickbait headlines about Chinese miners the elephant… whale in the room is slowly dumping through Huobi.”
The selling trends in the cryptocurrency market took off after the Chinese authorities took an arrogant stand towards the cryptocurrency projects. The People’s Bank of China recently stated that they would be clamping down on digital currency trading platforms. China continues to research the use of cases of blockchain technology.
Geopolitical and financial factors have a major role to play for the price of the Bitcoin having dropped down to $6.5K. Investors are worried about China’s crackdown on cryptocurrencies, and many of them sold their tokens, hoping to get it at a lower price.
The tax obligations concerning Bitcoin is also considered to be a popular reason for the drop in the price of the Bitcoin. It is thought that several investors in the United States are attempting to drive the market to lower price trends to record negative gains on their holdings for the year 2019.
The Bitcoin liquidity now is seen to be evaporating fast. The market trend seems to be like it can snap in any direction. The Bid and offer spreads are very wild, and investors need to be careful.
Despite the fact that the massive sell-offs of Bitcoin in the cryptocurrency market, GiveBitcoin is providing a new way by which one can gift Bitcoin to their friends and family on special occasions and holidays. They are doing things just in time for the holidays. The goal of this company is to create at least 21 million new “Bitcoiners” this Christmas season.
Bitcoiners are continually chasing “mainstream adoption.”
The current gifting process comes with a time lock. The consumers who are gifting the bitcoin will give it with a time lock, and the minimum time lock is set for one year, and the maximum is for 5 years. Customers can also set the time lock in a way to have the funds made available during birthdays and anniversaries. These funds will be stored in Prime Trust, a regulated and insured custodial platform.
Cory Klippsten, GiveBitcoin founder, stated that getting into crypto can be very complicated for the first time.