Twitter’s crypto ads ban is already factored in the market: Don’t panic sell!
There are many crypto holders who are feeling jittery about their investments right now. That’s after Twitter announced a ban on all crypto related adverts. However, you really have nothing to worry about, because that information is already factored into current prices.
To understand this, you just need to compare the current price drop to the drop after Google announced that it was banning crypto adverts. After Google’s announcement, the market dropped drastically, with bitcoin dropping from over $9000 to lows of $7200. That’s because the move was unexpected, and naturally, investors panicked.
From that point on, speculation was rife that Twitter would be following suite, and pull a similar move as Google and Facebook. That’s why when the move finally happened yesterday, people were not surprised. You can see this in the price of most cryptos at the moment. After Twitter’s announcement, Bitcoin dropped slightly from $8400 to around $7700 before stabilizing back at around $8000. Most other cryptos are in the green too, after slight drops yesterday. This is an indication that Twitter’s move was well anticipated, and already factored in at current prices.
The future of cryptocurrencies is still bright even after this blackout by major internet companies. In fact, this relentless push to silence cryptocurrencies is an indication that there is something powerful about blockchain technology that governments and big business are afraid of.
Personally, I believe their fear is that this technology could easily render their business models obsolete, and take away their power. Why would Google not be afraid of blockchain technology, when a platform like Dtube has the potential to take business away from YouTube? Why would Facebook and Twitter not feel threatened, when decentralized social media platforms that allow users to earn from their data, are on the rise? One American bank recently announced that cryptocurrencies were a threat to its business! That should give you perspective, on where all the negativity is coming from.
With this mind, you need to stay strong and hold on to your cryptos. The current environment is tough, but we are in the middle of a major revolution. Whoever stays strong will reap big once blockchain technology and cryptocurrencies go mainstream. In fact, a smart investor would capitalize on the current environment, and stock up on good coins.
PS: THIS INFORMATION IS NOT FINANCIAL ADVICE, AND I AM NOT A QUALIFIED FINANCIAL ADVISOR. ALWAYS INVEST WHAT YOU CAN AFFORD TO LOSE.