Google Bans Crypto Ads and More Regulatory Concerns

This morning Google announced that in June, it would ban all Cryptocurrency related ads on its ad network. This means that Adwords will no longer run ICO ads or ads for new exchanges or tokens. This has hit the Crypto community pretty hard as prices plunged below $8000 during trading today. I believe this news is bigger than Facebook banning Crypto Ads and will have more of an effect as more ads go through google than Facebook. I do expect the market to bottom out perhaps around $7000 in a day or two before starting a recovery barring more bad news so if you want to wait until then to buy back in, that may be a good idea. The IMF also wanted a crackdown on Cryptocurrency but the IMF kind of speaks for the banks and banks see decentralized finances as a threat to their business model so of course they are going to want to shut it down. They keep saying that Bitcoin is like a bubble that is about to pop. But in truth, Bitcoin, unlike tulips, would never have all these wild dips if not for the Financial industry and the governments that are beholden to them repeatedly scaring investors with news and concerns time and time again. In fact, its not like a delicate bubble. Its more like an iron ball and the financial industry and the governments that are tied to them keep trying to poke it and hack it with scissors and knives to try to pierce and kill it and they are frustrated that their tactics are not working. They know its a threat to their political and financial power they have and they are afraid of the change that is coming. I think some like Goldman Sachs are getting smarter and taking up a position in Crypto(by buying Poloniex) because they realize that Crypto can’t be killed so easily and they had better start to adapt before they become obsolete. I believe in the coming months, some other banks will follow and those that don’t eventually will be competed out of existence eventually. So, right now, I’m waiting for a dip to around $7000, maybe $6500 before I buy back in for some more.

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