Twitter Crypto Ad ban, G20 nothingburger,ETH is trouble with SEC?

There was a slew of news this week after the Google ban as Twitter is rumored to be following in the footsteps of Google in banning all cryptocurrency related advertising. This has not been confirmed yet but I expect that it will be confirmed soon and will cause a small dip in the market. The pressure of regulations is forcing these large ad networks to shun crypto for now. This won’t hurt already established coins but it will hurt new and upcoming ICOs.
The regulators of the G20 summit announced that they will not put any new regulations into Crypto but rather review things that are already in place. This caused an immediate $700 bounce in the price of bitcoin. I don’t think this means BTC is out of the woods yet of course because they could still have some harsh words for Bitcoin and other Cryptos in general but at least we probably will not get the type of fear that new regulations usually bring. This most likely improves the floor price of what Bitcoin could fall to in the next week.
Ethereum has been hit extra hard this week because the SEC has decided to clamp down on ICO tokens, many of which are built on the Ethereum network. This of course, threatens Ethereum’s overall volume and demand for the coin. Ethereum, unlike Bitcoin or Litecoin, is not made for everyday transactions but is made more for business transactions on their network and heavy scrutinizing of the tokens built on their network would cause a dip in demand. I think as things pan out, ETH will rise and slowly recover but it may be a long while to wait.
Overall, my sentiment is a bit more bullish than it was a day ago about the overall direction of the market and I do expect the market to start seriously making gains starting in 1.5 to 3 weeks from now.

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