Bitcoin prices tend to be unstable. In the past month, it can even fall by 50 percent. Especially after Facebook blocked ads related to the digital currency.
Based on information reported by Ubergizmo, Sunday (4/2/2018) after Facebook blocked Bitcoin ads a few days ago, the price continues to crawl day by day. Every day, the price of Bitcoin even decreased by 11 percent.
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As of Friday (2/2/2018), the Bitstamp Exchange page reported that Bitcoin's price hit its lowest point of US $ 9,022 (equivalent to Rp 121 million).
The amount is considered very low, considering the price of Bitcoin was at US $ 20,000 (Rp 268 million) in December 2017.
Bitcoin is not the only digital currency affected by blocking Facebook ads. Ripple for example, the third largest digital currency is also decreased to double-digit. So even with Bitcoin Cash.
Misleading Practices
Bitcoin Illustration. Liputan6.com/Mochamad Wahyu Hidayat
Bitcoin Illustration. Liputan6.com/Mochamad Wahyu Hidayat
The reason for Facebook blocking ads about digital currencies is none other than because they want to eradicate misleading practices such as Initial Coin Offering (ICO / Initial Coin Offer) and binary options.
"We are creating a new policy, which prohibits advertising to promote various financial products and services, often associated with misleading promotional practices such as binary options, ICO and cryptocurrency," said Director of Management Product Facebook, Rob Leathern, as quoted by Reuters, Thursday (1/2/2018).
Facebook will also implement the new policy to all company-owned platforms. In addition to Facebook, Audience Network and Instagram will apply the new policy.
This new policy is enforced to keep users comfortable while using all of Facebook's services.
"We want people to continue to discover and learn about new products and services through Facebook advertising without fear of being deceived," said Leathern, a company that advertises binary options, ICO and cryptocurrency.
Bitcoin Value Equals Google Search
Bitcoin Currency Must Have International Rules
The Japanese government said the regulation of bitcoin should involve international agencies to avoid the risk of hacking.
Bitcoin's own value is valued in harmony with search in Google Search. According to Co-Founder DataTrek Research, Nick Colas, if Google's search data on Bitcoin has increased, then it will impact on its value.
The more you search the Bitcoin, the value will go up, and vice versa.
"The current Bitcoin search is really decreasing, so it's the same as the current Bitcoin value," Colas said.
Furthermore, Colas lays out other evidence supporting the Bitcoin search in November last year. At that time, the search trend on Bitcoin increased when Thanksgiving 2017 in the United States. The condition is in line with the number of Bitcoin wallets that are formed.
"However, a few days later, the price of Bitcoin fell, so did the search," he continued. Nevertheless, Colas assess the future of Bitcoin is not too worried because armed with technology, this investment is still safe for the long term.