HLast year was Cryptocurrency year with the likes of Bitcoin, Ethereum etc performing very very well and making some people millions overnight. Bitcoin value for example, increased up to $17,000 in December 2017 but now it's a different story.
Bitcoin and other crypto platforms are on a free fall since January 2018 and to make matter worst, yesterday Google announced that it will no longer allow cryptocurrency-related ads on its platforms. The market sunk, fell and almost collapsed as news spread.
Recall back in January, Facebook Inc., Google’s primary rival for ad dollars, banned ads for cryptocurrencies.
Stats reveals that Facebook and Google control somewhere between 60% - 70% of the online advertising market, so no one wants to be on their bad side.
In a blog post on Tuesday,
Google announced that it would follow in Facebook’s footsteps and ban cryptocurrency ads from its network, beginning in June 2018.
What this means is that Google will now prohibit promotions of “Cryptocurrencies and related content, including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice.”
There are cases of some crypto networks running away with people's money. Example is Prodeum ICO which ran away with investors fund. There is currently an uncertainty in
swisscoin.
All these has led to uncertainty in the Cryptocurrency business although Bitcoin is not an investment scheme because it is a virtual currency, making it more volatile. You can trade with it with other altcoins and make your profit but it is not an investment.
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Reviewed by admin
on
March 16, 2018
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