Bitcoin has endured a rough couple of weeks. Following a stint that saw it trading for nearly $10,000, bitcoin sunk last Wednesday by over $1,000 following Google’s announcement that it would ban cryptocurrency and ICO-related advertisements this coming June.
Sadly, despite a few brief price hikes between $8,100 and $8,500, the price has fallen to a one-month low of $7,600. The move likely stems from Twitter’s recent announcement that it would begin banning cryptocurrency ads within the next two weeks.
Should the platform take such action, Twitter would ultimately become the third major player to strike against bitcoin after Google and Facebook last January. Marketing and awareness surrounding cryptocurrency is likely to fall heavily, now that all three companies are turning their backs on marketing strategies.
It’s an unfortunate move to say the least, and one that’s likely to have serious repercussions. Heck, it already has.
Bitcoin has never been able to recover from its massive January fall since hitting nearly $20,000 last December. Mining is no longer considered profitable, and many investors have seemingly lost interest or aren’t paying as much attention to bitcoin and cryptocurrencies. Read more from themerkle.com…
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