Tanya Abrosimova
Independent Analyst
- Google announced the ban on advertising digital assets and ICOs.
- BTC/USD is resilient above the pivotal $9,000 level.
Google turns against crypto announcing the ban on online advertising and promoting everything related to cryptocurrencies and initial coin offerings.
The internet-search giant explained that the decision was in line with its broader approach towards high-risk financial products marketing. Thus the company also limits the advertising for binary options.
The decision comes into force in June and follows the similar step took by Facebook in January. As a result, two biggest advertising platform will be out of reach for the newly-born cryptocurrency industry.
BTC/USD technical picture
Meanwhile, Bitcoin, the largest cryptocurrency by market value, showed little reaction to Google announcement, paring early gains. BTC/USD is trading around $9,000 pivot with no clear downside bias visible either on intraday or long-term timeframes. The market reaction may become more pronounced when European and American players join the game. In this case, a sustained dip below $9,000 will increase the selling pressure and pus the coin towards the next support at $8,800. The upside is still capped by $9,300.
BTC/USD the hourly chart
-636566117209462818.png)
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
TRON gains 10% in 2024, supply of stablecoins reaches over $50 billion in Q1
TRON, a blockchain-based digital platform, has seen positive growth in the first quarter of 2024, as seen in a Messari report. TRON noted gains across several metrics like market capitalization, revenue and total value locked.
XRP hovers near $0.50 as Ripple CTO addresses concerns related to stablecoin launch
XRP is hovering near $0.53 on Friday, spending nearly all week below $0.55. Ripple CTO David Schwartz addressed concerns on stablecoin and XRP utility on Thursday.
Terraform Labs set to restrict access for users in the US after recent ruling in SEC lawsuit
Blockchain company Terraform Labs said Thursday that it will restrict access to some of its products and services for US-based users as it expects to receive a court order soon in light of its legal battle against the US Securities and Exchange Commission (SEC).
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s (BTC) recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Bitcoin: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s (BTC) recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.