Bitcoin will fight “Bears” this week
Last week Bitcoin Price set the new minimum record — 7, 667$. This so called “Bear trend” features a drop of securities prices and widespread pessimism, which causes the negative sentiment to be self-sustaining.
The main influence factor is of course Facebook and Google ban of cryptocurrency advertising. Igor Doganov, Tokenbox Chief Analytics Officer, told Prime Russia that additional negative impact had also been made by the Visa representative, who had declared that cryptocurrency was perfect for money laundering. The Securities and Exchange Commission (SEC) representative also boosted everyone’s attention with his theses on the verification of ICO projects and cryptocurrency hedge funds.
However, Igor Doganov believes that Bitcoin price will increase after all:
“Advertising of binary options, cryptocurrencies, currency exchanges within Google services will be banned in June 2018. At first glance, it looks like a decision that was taken under pressure and with the aim to dilute the industry.
On the other hand, this decision will positively affect the industry. We will probably stop watching innumerable announcements of cryptocurrency projects, which rely solely on marketing promotion to raise funds, so the new market entrants will less likely be involved in fraudulent schemes”.
