First of all I'm not a cryptocurrency enthusiast, just got to know about blockchain back in November when I joined Steemit. Back then the total cryptocurrency market cap was around $250 Billion and after a month it shoots up to a whopping $800 billion. Since then the market cap is at a decline and as of now the total market cap stands at $332 billion.
There seems to be a lot of reasons for the current decline, the decline in January was due to the speculations that South Korea was planning to ban cryptocurrency after they uncovered a crypto related crimes worth $594 millions. The ban result the market cap to decline to $450 Billion.
After crypto recovered a bit and was at $590 Billion, Facebook announced that they are banning crypto related ads on their website. Result another dip and this time straight down to $332 Billion. That was a huge decline and the biggest cryptocurrency Bitcoin was down from $19000 to $7500.
After a month or so the market cap was slowly growing and was stable at $490 Billion. But it was not for long, Japan decided to attack crypto exchanges and shut down two exchanges, after a massive hack of about $530 million. Crypto was back at $429 Billion but soon recovered to $470 billion.
But that was not the end, recently Google announced just like facebook they are also banning crypto related ads on their search engine as well as youtube, which is a huge loss, resulting the market to crash down to $350 Billon and is currently (at the time of writing this) at $332 Billion.
Seeing that google has banned crypto ads, Reddit released a statement that they have banned cryptocurrency ads since 2016 and now they have even banned crypto advertisers from purchasing Google cached ads.
Seems like there has started a trend to ban crypto related ads, so what do you think who is next to ban these ads, Twitter?
Where there is a need, there is a market.
I can see ad-friendly networks and pages specifically for crypto ads coming.
What???
They're banning crypto currency.
That's going to be a huge hit to a lot of people.
That use Google a lot.
I'm one of those people.