Over the weekend, the price of Bitcoin and other cryptocurrencies continued to slide. Bitcoin reached a low of $7,840 while Ethereum traded below $460. What has contributed to this decline? Get updated on the 19 March Bitcoin Fundamental Drivers Analysis.
19 March Bitcoin Fundamental Drivers Analysis
Early this year, Facebook announced that it would ban ICOs and other crypto-related advertisements from its services. Last week, Google followed suit with a clampdown on crypto advertising across all of its ad platforms. Marketing via Twitter is still allowed, however, a similar policy is perhaps to be expected in the near future.
The news directly affects how cryptocurrency networks and ICOs advertise their products. Before the policy changes, companies could expect maximum outreach by creating a Facebook or Google ad – but things have changed. The revised regulations combined with increased scrutiny from regulators and observers make it difficult to see a silver lining in the cryptocurrency industry.
This article about 19 March Bitcoin Fundamental Drivers Analysis was provided by OctaFX. It should substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.
Also, speculative trading is a challenging prospect, even to those with market experience and an understanding of the risks involved.