This time, Twitter is the mainstream media that has set out to start banning proponents of cryptocurrency.
In a report that came out yesterday, the social media giant Twitter said that they would be banning anyone shilling crypto-based scams. That is a very broad statement, especially if you are worried about cryptocurrency disrupting your current business model. I supposed that Twitter will be actively monitoring accounts that are touting cryptos and ICO's and ban some according to what they see to be "scammy".
Twitter is not the first large social media website to "ban crypto". Earlier this year, Facebook banned crypto ads at the same time many other negative news stories were being published about Bitcoin and other cryptos in the mainstream media. It seemed like all of this was one big coordinated effort to drive the price of cryptocurrency, and while the price is much lower than the all time high, I would say that the cryptocurrency market is still in great shape. There was more "bad news" for crypto during the last couple of months than there has been during it's entire existence. If all of that couldn't drive the price down more than 50-60 percent from it's all time high, than I don't know what will.
Unless the United States or a group of smaller countries ban crypto at the same time, I can't see any other scenario in which Bitcoin and the crypto market doesn't rise back up to new all-time high levels within the next year or 2.
There's no telling how long we will be stuck in the bear market, but if there is 1 thing that I have learned about crypto since 2012 when I first got into Bitcoin, it's that the rebounds are always faster and always waiting around the corner. I'm not sure if the rebound will be this week, next month, or next year, but I am certain that it is looming.
To the moon,
@bwells