Bitcoin revives having dived below $8,000

Bitcoin revives having dived below $8,000

On Thursday, crypto assets went down in the face of ongoing bearish sentiment in the financial market.

Bitcoin inched down below $8,000 hitting a five-week minimum in early trade, although it has since revived to trade nearly flat.

Digital currencies have been affected by a sell-off in the crypto market, which started in the beginning of March. The previous week investor confidence was punctured by worries of regulation, huge sellers liquidating holdings in the market as well as gossips of another exchange hack.

Market participants were heavily affected by the latest blow delivered by the number one search engine. So, on Wednesday, Google made up its mind to have all crypto ads banned. The move undoubtedly hurt already fragile market sentiment. As a result, digital currencies found themselves in the red.       

The CEO of crypto-expert PR company Ditto, Trey Ditto told on Wednesday that Google’s shocking decision to forbid crypto ads on its platform is similar to throwing the kid out with the bath water.

Ditto pointed out that they make use of Google and Facebook to educate users and potential investors as for a range of opportunities and topics. He added that he really worries that it painfully punishes the promising actors in this rapidly growing space and thus it will affect the investors and consumers who are hunting for information to make rational crypto investment decisions.

CEO of Apex Token Fund, Chris Keshian offered a more upbeat view on the subject. He told that banning happens to be a so-called 'pause' button because organizations look for better ways to regulate an asset class, which is still incomprehensible to them. He also told that he expects further bans, but there’s a likelihood that the clampdown is going to be lifted in the nearer future.     

Similar

Popular

Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera