Content adapted from this Zerohedge.com article : Source
This Monday is not shaping up to be a good day to cryptocurrencies.
We are seeing the market move towards it 2018 lows. This after a nice run on Friday.
Another leg down was seen recently.
Bitcoin is leading the pack down, passing through the $8,000 level.
This sell-off looks to be in response to Twitter's announcement to ban ICO and token sales on its social media platform.
“Advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally,” a Twitter spokesperson said in an emailed statement Monday.
“We know that this type of content is often associated with deception and fraud, both organic and paid, and are proactively implementing a number of signals to prevent these types of accounts from engaging with others in a deceptive manner.”
Image courtesy of cointelegraph
Non-adapted content found at zerohedge.com: Source
We have more room to go down!
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As history has many times proved, after a dramatic rise in price like what we experienced in 2017 bitcoin's price crashes and then we enter a bear market. Of course, other cryptos follow. This has happened 6-7 different times in bitcoin's history. Each time played out in the exact same way. There have been bear/bull market cycles that have lasted a few months and there have been bear/bull market that lasted years. As well, since the very existence of alt coins they have ridden bitcoin's coattails. Whatever price direction Bitcoin moves in, up or down, alts generally tend to follow. Again, to varying degrees of magnitude. Historical data is valuable and while I don't see enough evidence to prove the pattern obsolete, there's no telling what will happen this year. Personally, I'm going to put my faith in the data we have. My money is on that this year we see bear trends across the board. It will be very interesting to see if the pattern still holds true or not. Prepare yourself for down trends because that is the way bear markets work. Meaning there's really no reason for a crash other than bear markets are gonna do what they do. I'm not saying we have entered a bear market yet, because I think it's too soon to tell, but mentally prepare yourself for it anyway. Take heart, if this is a bear market and we continue with the pattern we'll never see BTC prices this low again in our lifetimes. Last bear market found it's price floor at $230. Those prices are looong gone. The same will be true for the price floor found in this bear market, if we have entered it.
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Whether this selloff is based on Twitter, Google Facewhat...news doesn’t matter. You have to be emotionally prepared for these kind of dips. I am not emotionally invested in my holdings whatsoever. While I find it extremely thrilling to watch the market and hear all the FOMO/FUD, every dollar I put into crypto is already written as a loss to me/ used as sport, otherwise you shouldn’t invest in crypto. If what you say about all these negative news is true, I’m super pumped to see what type of trends we’ll see at the end of the year (when they run out of bad news) with most shilled coins having their mainnet’s released/just about to release.
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Crypto game lookin hella dirty, but we're cleanin it up!
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hella Korn vibes coming off that beat, son!
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Haha cuz of his hair... the first time I saw this video I was hooked!
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After a far cry from the investors who invested their huge cash earlier this year and loud chants from the new investigators in the market who bought during the huge dip.. Both parties are now getting more agitated with the unending FUD. The bans are creating more panic from all corners of the public which only drives the market in a worse state as people fear investing more in the coins. But I still stick to the coins being a highly profitable venture of investment especially now that they are cheap to access. The investors in panic need to know an investment needs patience.. Waiting up to more than a year to pick returns. And with the world going crypto.. The odds are on our side. Let's grab every opportunity that comes in the market with two arms.
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So the CEO says Bitcoin will be the global internet currency ... and then this happens. Doesn't really make sense.
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He believes in BitCoin and block-chain technology, he is against advertising ICOs because of the wide spread fraud. I'm honestly getting sick of the ads myself.
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It will get better.. Lets be patience.. \o/ Steem on
cheers :D
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Cryptocurrency market is not going to be right now, but let's see how long it is to be in full size. Many are preaching cryptocurrency market is not going to be invested right now so I think we should wait for the right time.
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nice job dude
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isn't this a bit late for a "response" for the twitter ban. The twitter ban is over a week old news. I think a possibility is that oomstitutional money prefer to buy stocks at near 2018 lows rather than Crypto. It makes some sense.
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Thanks for sharing cryptocurrency update providing news.
I appreciate your update news
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ICOs off Facebook and twitter will just slow down market dilution, I hope :))
To much of the market is being siphoned to random ICOs, 500 new coins without market growth might not be to good!
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Good to know. I was wondering what was the reason bitcoin started to raise along with other cryptocurencies including Steem. However, the volume is not too convincing. I expect the selling pressure to continue. The trend is still down, we should get ready for anything. The good news is there are buyers at these levels. I’m still waiting for this panic selling.
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Just when it seems like the market could finally recover slowly... Oh well, I'm sure it's not the last of these bans and we will see more pretty soon. We just gotta live through these dark days!
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That means fbook titter and gooboy buying in.
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Buy! Buy! Buy!...
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Which means is a good time to buy in
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I don´t know which bans they mean. but every time I open Google or Youtube I see advertisements.
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It's tough to know what will come next. 2018 is really going to be a year to remember. But after all this trials, am sure we'll come out with a stronger and more stable market.
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great job
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You got a 20.56% upvote from @postpromoter courtesy of @newsflash!
Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
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good workers, very interesting moments I really like.
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the cycle is nearly complete... prepare your cash. the bull is coming.
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after I read this, I think why should there be this ugly competition by doing fraud
2 hrs ago I was able to read the post @investing who shared about the state of MALTA the pro- blockchain
Binance in Malta. China Fights to Control Crypto
hopefully this will be good news and I personally hope crypto widened its wings and more successful. thanks for your great article @zer0hedge
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