Bitcoin Forum

BITCOIN got an unlikely boost yesterday after Facebook became the first major technology firm to reverse its decision to ban crypto advertising. One expert said that Facebook’s step will help take the bearish crypto market "back towards the bulls."

Bitcoin is priced at $6,108 following an overnight dip and recovery. Ethereum has dropped to $433 with Ripple down at $0.46.

Facebook has decided to drop its controversial ban on cryptocurrency adverts is what could well be a massive boost for all cryptocurrencies.

In January Facebook said that it would “prohibit ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings and cryptocurrency.”

The statement announcing the u-turn said: "In the last few months, we’ve looked at the best way to refine this policy — to allow some ads while also working to ensure that they’re safe.

"So starting June 26, we’ll be updating our policy to allow ads that promote cryptocurrency and related content from pre-approved advertisers. But we’ll continue to prohibit ads that promote binary options and initial coin offerings."

More... https://www.express.co.uk/finance/city/980757/Bitcoin-price-ripple-cryptocurrency-ethereum-BTC-to-USD-XRP-news

The good thing here is big company like facebook do reverse their decision which is nice but talking about price boost i dont even feel it coming.Inspite of that positive news the price still tanks on same prices we do see some percentage gains but later on the price had gone down again. Current cap as of writing $247,033,798,773 which i had seen on last days it was on $252B.

I feel like that Facebook is hidden something or do have some plans behind their sleeves.  ;D

It's a bad idea to attribute small price changes to some events during that timeframe, because Bitcoin is so volatile that it's most likely just a coincidence. People need to distinguish small, unimpactful news from something that can really move the crypto markets. It's no longer 2011, the volume is huge, and expectations are much higher, so the news the news that could move crypto market have to be really huge - some official announcements from governments, integration by huge companies, etc.

I was thinking if the news had insisted that price was still in the "bull" position, I would have wondered if I am looking at another bitcoin price or there is another global market different from the one I watched but alas its still the same thing and price has equally gone above $6000 even though its just by a small margin. I think its good that its happening that way because if there had been a significant increase in price because of review of policy of Facebook then its like giving all the glory to Facebook as the determinant of the price of bitcoin. More so, I don't expect a drastic increase in price which has been decreasing since they started the policy lasting for months and I would be surprised if a review of policy and not even the eradication of such policy would cause such expected increase in price.

And it looks like its not the case though as bitcoin somewhat fall below $6000 again after a few days of Facebook announcing the lift on the ban. So we can conclude that its just a coincidence that bitcoin price suddenly spike even for a small percentage during their U-turn. It will really take a lot of positive news to turn this "bear" market to a "bull", but sad to say that this news hasn't have enough push to move the price significantly.

The whole crypto market is in bearish mood. I think it will take some time for price to recover.

I would like to agree to this. It’s possible that the news about Facebook lifting the ad ban and the price boost was just a coincidence. Many have commented that the news about facebook would contribute a price hike but it’s possible that it had a boost just becuase it went down lower than $6K. Perhaps adoptions by countries or statemnts from the government could have an impact on the price or make it go up significantly.

Yeah, bitcoin doesn't loose so much after this new, but what if almost all your investments are in Etherum, which lost serious percent during last 10 days?
I truly think that it was smart decision for Facebook, but I actually do not understand what it has with the price for bitcoin. Look all market in red! I hope that was the last drop and the bull market is on the road.

They are trying to point out that the recovery from new lows was due to FB lifting add bans. I doubt that. There's always a recovery after a harp drop and we are really oversold right now with many people waiting for an opportunity to jump back on the train. The FB news are nice and bullish, but it's not enough to reverse the trend. It has to burn out and reverse on its own.