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RE: Bitcoin (BTC) Morning Update: Two Patterns Converging into One
I'm pretty sure that Google's ban on cryptocurrency-related ads only has a very small impact on price. If anything, the ban by Google is actually very good news in my opinion. I've made a Steemit post about that here: https://steemit.com/bitcoin/@mjglqw/google-bans-crypto-ads-good-news-short-post
I agree that the Google ad ban has its positives, with scams not being promoted left right and center. However, this type of news is always seen as bad from an investment perspective and in a market where a lot of the investors are just regular inexperienced people, in my opinion it certainly has an impact on price in the respect that people won't buy more because of it, but people will certainly sell because of it.
I think buying in general right now is trying to catch a falling knife, however the $8,000 price level for Bitcoin does have a lot of support as price bounced up a good bit when it hit that price. Just need to wait and see if it levels out or goes lower!