The price of the Bitcoin has plummeted and, recording double-digit percentage losses, it has quickly recovered to 7,700 dollars.
The price of Bitcoin has plummeted again, this time challenging not only the $ 9,000 threshold, but also the $ 8,000 threshold.
The quote has left impressive losses and returned to trade slightly above the $ 7,700 in a matter of hours, all from the highs of $ 9,300 touched yesterday.
To penalize the price of Bitcoin, this time, it was Google 's decision to impose a ban on all the advertising related to the universe of digital money. Yet the listing began to record the largest losses only a few hours after the announcement of the company. A real delayed reaction, that of quotation, which is still losing more than 10%.
According to experts, the collapse of the listing was not entirely unexpected. Once the optimal conditions for braking had matured, a small spark was enough to make the price of Bitcoin slip.
In this specific case, the aforementioned spark was represented by the choice of Google to impose a ban on advertising regarding cryptocurrencies and Initial Coin Offering. The statements of the company echoed those of Facebook : the most famous social network in the world has launched a similar warning in January, sinking by more than 12% the quotation of the most famous cryptocurrency in the world.
Not only has the price of Bitcoin collapsed, but the volatility and trading volumes have jumped, as if to signal the need for investors to exit the market as quickly as possible.
If the decision of Google certainly contributed to the thud of the quotation, this was then exacerbated by the activity of the most avid speculators . That said, in fact, it is worth remembering that despite the choice of the search engine certainly appears a bearish element for the price, Bitcoin is still at + 100% compared to six months ago.
If for one part of the market the decline was determined by the decision of Google, for another part of it the general weakness is due once again to the fears related to a strict global regulation on cryptocurrencies.
For Brian Kelly, CEO of BKCM, the latter could potentially be positive for the industry.
"It's a good thing for the industry. The Facebook and Google advertisements have always been a red flag for me. They are not having an impact on prices ".
For the expert, the sales climate on the quotation is finding its raison d'etre in a new hypothesized ban that should come from China in the next 24 hours.
For the moment, however, the price of Bitcoin is trading with a fall of 13.78% on the $ 7.800 share , in perfect harmony with the rest of the sector, today totally in the grip of weakness.