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.
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.
The Bitstamp Exchange page reported 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.
Reasons Facebook block ads related to digital currency not because they want to eradicate the practices considered misleading as Coin Initial Offering (ICO / Coins Offer Premium) and binary options.
"We are creating a new policy, which prohibits advertising to promote a wide range of financial products and services, which are often associated with the practices of promotion is misleading as binary options, ICO and cryptocurrency," said Director 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 the various products and services through Facebook ads without fear of being cheated. That said, many companies advertise binary option, ICO and cryptocurrency, not operating in good faith," said Leathern.
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.