Google bans crypto ads

Another day of strong passion for cryptocurrencies.

Bitcoin: new collapse

Bitcoin (BTC) yesterday fell below $ 8,000, thus extending the already substantial losses recorded for over a week: after having already broken down in the last days the threshold before 10 thousand and then 9 thousand dollars, the main digital currency exchanges at 19.00 tonight at 8.8233 dollars and then yields with today’s losses 55% from the highs of nearly 20 thousand dollars reached last December.

In the meantime, the total capitalization of cryptocurrencies is reported today at the lows of beginning of February to 326 billion dollars, practically now halved by 626 billion year in the year. In fact, in the last 24 hours all the 20 largest coins have registered losses: Ethereum -3.88% to $ 606, Ripple -5.94% to $ 0.68, Bitcoin Cash -4.86% to $ 925, Litecoin -1, 5% to $ 162.

The Google ad

Numerous pressure factors continue to weigh these days on the market. First of all, the decision of Google, which announced that it will follow in the footsteps of Facebook by banning the advertising content related to the world of cryptocurrencies, is still making its effects felt. A decision that intensifies the pressure of internet giants against the proliferation of offers of trading services and promises of easy earnings produced by the last year bitcoin boom.

The announcement came yesterday in conjunction with the publication of the report on “bad publicity” that the group publishes annually, an update of the guidelines on deceptive or controversial content circulating on its network.

In this year’s edition, Google anticipates that, starting from June, it will make changes to its advertising policies related to a whole series of high-risk financial instruments, such as binary options and contracts for differences (CFDs), but also cryptocurrencies: the block, in fact specifies the press release, “will include, but will not limit itself to initial coin offerings, cryptocurrency exchanges, digital cryptocurrency portfolios and cryptocurrency trading services.”

The G20 is approaching

Meanwhile, the increasingly looming shadow of the G20 that will take place in Argentina over the next weekend is also felt.

Even if the chances that specific agreements on this subject are reached or that bitcoins and other digital currencies may be the subject of a joint press release, in recent days the first rumors have already generated a certain apprehension about the intentions of several countries present at the meeting. meeting, beginning with the news that Japan will ask the G20 representatives for a greater common effort to prevent the spread of the use of cryptocurrencies for money laundering.

Regulatory tightening does not soften

That the vice of regulators is tightening more and more they have already on the other hand already showed a few days ago the measures announced by the US Securities and Exchange Commission, which imposed the exchange of “digital assets that are securities” to be accredited at the agency.

The decision came last week, at the end of a period in which the US regulator had already initiated investigations in an attempt to establish a first form of control on many trading and exchange platforms.

“If a platform offers digital asset trading services that are securities (securities) and operates as an ‘exchange’ according to the definition given by the federal securities regulations,” the SEC has announced, then the platform must register with the SEC as a national securities exchange “.

In this climate, new downward predictions are proliferating in recent days.

Bitcoin: Goldman’s new forecast

In a new note last Sunday, Goldman Sachs technical analysts warned that a further fall phase could be on the horizon, explaining that the breakdown of short-term supports placed at $ 9,210 paves the way for a return to the lows of February.

“The break is significant because it implies the potential for a more sustained decline”, writes the bank’s team, stating that the first significant level is placed “at 7-687-7-198 dollars”. The Goldman Sachs team then asked to pay attention to the $ 7,000- $ 7,500 range, with the idea that breaking this level makes the prospect of falling under $ 6,000 more likely.

The Prophecy of Allianz

To make matters worse, finally, a new catastrophic forecast provided yesterday by Allianz analysts, who defined the intrinsic value of bitcoin as “zero”. In an online post relaunched by CNBC, Stefan Hofrichter, head of global economics of the German asset manager, warns that the interest in the cryptocurrency could last for some time, perhaps even recovering partially