Cryptopocalypse Again: How Facebook New Policy Caused Bitcoin 10% Price Crash
The value of all cryptocurrencies has shifted a few hours ago. The reason is unknown, but the few suggestions can explain the unstable situation of Bitcoin and Ethereum and other main cryptocurrencies.Â
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Cryptopocalypse again
The state of cryptocurrency wasn’t trustworthy for the recent weeks. This crash has proved it: at one time almost every cryptocurrency has decreased in price for 10%.
Probably, the reasons are connected to the massive prohibition of cryptocurrencies in some countries (South Korea, Ukraine, China threats to ban Bitcoin and other cryptos).
Also, Facebook started to delete all the ads and posts connected to cryptocurrency as they stated it was “frequently associated with misleading or deceptive practices.”Â
Facebook new policy
According to Business Insider, the company is banning all ads related to games that pay real money, bitcoin, cryptocurrencies, and ICOs.Â
The statement published on Tuesday “prohibits financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings, and cryptocurrency.”
Due to the high popularity of cryptocurrencies, a great deal of frauds is creeping around the pages of Facebook.
The company decided that was enough and announced the new policy, followed by a number of posts and adds deleted once and for all.
Source: Facebook
See the overview of Bitcoin price change:Â
Source: cryptocompare.com
As it can be seen, the price had fallen to $9,700, but now it’s more or less stable.
See the overview of Ethereum price change:Â
Source: cryptocompare.com
The same happened to Ethereum as it crashed to $1030.Â
See the overview of Ripple price change:Â
Source: cryptocompare.com
See also:Â
- Coincheck: 3 Facts You Must Know about Japan Largest Exchange Service
- 19-year-old Bitcoin Millionaire Creating His Own Cryptocurrency and Here Is Why It Might Be Just Another Bubble
- Blockchain Technology in Education: Is It Only Good for Cryptocurrency Transactions?
