The cryptocurrency Bitcoin or BTC has known a really bad week, falling in the market by about 2000$.
" Bitcoin prices dropped 9 percent Wednesday following news that Google, the world's largest online ad provider, plans to ban cryptocurrency advertising". This is one of the main reason of the fall. Another announcement such as this one was made by Facebook in January".
Even though the news from Wednesday sounded bad, Brian Kelly, CEO of BKCM, said the crackdown could be an advantage for digital currencies.
"It's a good thing for the industry, Facebook and Google ads were always a red flag for me," he said. There won't be any impact on the price of the bitcoin.
Kelly attributed the fall to more global regulatory fears coming from China.
"Selling is driven by fear of another China ban" he said.
It is hard to predict ether the bitcoin will know an increase or not in the next days but one thing is sure, it has known more decreases than increases since few months...
