Opinion: why Google's advertisement ban is not a reason for total panic
When crypto investors learned that Google had announced of its plans to ban cryptocurrency advertisements, they turned bearish. 📈In the 24 hours that followed the announcement, Bitcoin was down 3.47%, Ethereum was down 4.67%, Ripple was down 6.53% and Litecoin 1.26%.
Should we panic? No.
Cryptocurrency regulating advertising can actually cause to be bullish, not bearish, over the long term. At least for major cryptocurrencies like Bitcoin, Ethereum, Ripple, and Litecoin. There are a number of reasons for that. One of them is that these currencies do not need advertisement. They are already known among investors.
Another reason is that the ban will help weed out scam coins from the market, and therefore, install confidence among investors in legitimate coins.▶️ Weeding out scam coins, in turn, will eventually limit the overall supply of coins, and therefore, help the prices of major cryptocurrencies rally.
Anyway, cryptocurrencies still need to gain acceptance among users, which takes a great deal of time. That’s why investors should be extremely cautious on betting on the future of any cryptocurrency.
Based on Forbes article.