Ethereum is taking a direct beating from twitter, FB, google. Might fall to $400

[redhack]

It doesn't matter, ICO's will never stop and Ethereum will always be useful in this economy. Like it or not that's the reality. I'm not a fan of Ethereum but I use it as well.

[Coingrinder]

 Did the banning of porn ads from a various number of companies have a negative effect on the porn industry??

    ICO's will just advertise more specifically, and will create a new niche industry specifically for ICO's to promote. And, at this point many people investing in ICOs search them out and research them. Although ads do help bring in new investors, I don't see it having a tremendous impact .

   Look at industries like Pornography, or other similar industries. Blockchain tech is changing the internet altogether, and we may very well be using new search engines and social media sites altogether in the not so distant future.

   Twitter may be getting prepped to launch it's own ICO.. Might be a good time to buy some of their stock. I'm sure the telegram ICO money raised perked the interest of Twitter and it's shareholders. I wouldn't be surprised if they launched their own.

 

[carlfebz2]

-snip-

When it comes to dominance then erc20 projects is more common and do have most in number and with this such restriction I can say you do have a point regarding to your view that price might really affect even more when those restrictions have been already implemented.We wont know if it would only affect erc20 token mainly but I do presume all coins will be affected with this one.

[lider1971]

Blocks in the main information portals are likely to be very negatively displayed at the real market price of most projects. They have too much influence on capitalization.            

[Nastinmel]

Ethereum is taking a huge beating, and we've all seen that. It started out at 1.1k earlier this month, but today it fell to nearly $490.

People might argue that ethereum is falling because of BTC, and that's generally true. When BTC falls, it usually takes with it other alts, like eth. But there are certain times when eth skyrocketed while BTC fell – like when BTC was congested and people flocked to eth for their transactions.

But now that bitcoin's transaction fees and speed aren't issues, there's no reason for anyone to flock to eth while btc is falling. So eth falls to the mercy of BTC's drop in price.

But Google's new Ad regulations are directly affecting eth more than any other crypto. Why? Because most scam ICOs are ERC20 tokens. Now that the scammers can't hype up their tokens through Google, they might be dropping their plans. And remember that people have been outward about 90 percent of ICOs being scams. And when there's less ICOs, there's less ICO investors.

Plus, the SEC has launched new regulations and investigations into ICOs, which are also predominantly ERC20 tokens. People are being scared away.

And to add to the FUD, even Twitter is banning ICOs and even crypto wallets. Ethereum wallets are actually more in demand than bitcoin wallets because they encompass a wider variety of crypto due to all the different ERC20 tokens that are on the eth blockchain.

So you have FB, twitter, and google – the three whales of social media all banning predominantly ERC20 token ads. Thus, there's a significant amount of people flocking from eth because the money is leaving.

I believe when twitter comes out officially with the ad ban announcement, we'll see a further drop in eth to about the middle of $400. I think this is a good bottom for Eth. I don't see Eth falling below $350, and if it does, then that's a huge steal.

Eth is still a leading cryptocurrency with its versatile and innovative features. It still attracts legitimate startups to its blockchain given the ease of creating an ERC20 token. And there are far too many legitimate companies built on the eth blockchain.

Eth should honestly be near BTC's price a lot more than Bitcoin Cash. So I feel as though Eth is at least 20x undervalued, but you won't see that value until all this regulation FUD clears.

Once everything has stabilized we should see a clear growth in Eth's price.

In fact, people in a panic just withdraw money, because I do not understand how in the future the latest developments will affect the market as a whole. ETH is just an example, a similar situation exists in other projects.

[Cordann]

The problem is that Google, FB, twit etc too significantly influenced the flow of new money into the crypt, now when they start to impose restrictions it can kill the lion's share of the influx of investors.

[xiaoyum]

I think its just a bit true as yeah ethereum was fed with all those ico advertisements. But I personally believe altcoins are in general downfall affected not only by bitcoin, they just corrected themselves after bubble too. Ether will recover so.

[oxonhu]

eth is second big coin on market , many ICOs are still based on ethereum network so many people who wants to join an ICO needs eth. As I always say eth must be at least 0.1 btc but not less. Cuz we all somehow use eth network. We all use eth for transactions.  700k transactions has made yesterday by users. Which coin has such a huge transactions number ? If you look ETH daily RSI graphic you can see its just on dip. And it will turn soon. If you have eth you will never regret for long term !!

[lovenlifelarge]

ethereum is multibillion smart contract, isn't it obvious that people will make FUD out of it. people wants to earn money by spreading bad news all over the network. only weak hands will suffer because for me, ETH is one of the best crypto out there.

[unusualfacts30]

Ethereum is taking a huge beating, and we've all seen that. It started out at 1.1k earlier this month, but today it fell to nearly $490.

People might argue that ethereum is falling because of BTC, and that's generally true. When BTC falls, it usually takes with it other alts, like eth. But there are certain times when eth skyrocketed while BTC fell – like when BTC was congested and people flocked to eth for their transactions.

But now that bitcoin's transaction fees and speed aren't issues, there's no reason for anyone to flock to eth while btc is falling. So eth falls to the mercy of BTC's drop in price.

But Google's new Ad regulations are directly affecting eth more than any other crypto. Why? Because most scam ICOs are ERC20 tokens. Now that the scammers can't hype up their tokens through Google, they might be dropping their plans. And remember that people have been outward about 90 percent of ICOs being scams. And when there's less ICOs, there's less ICO investors.

Plus, the SEC has launched new regulations and investigations into ICOs, which are also predominantly ERC20 tokens. People are being scared away.

And to add to the FUD, even Twitter is banning ICOs and even crypto wallets. Ethereum wallets are actually more in demand than bitcoin wallets because they encompass a wider variety of crypto due to all the different ERC20 tokens that are on the eth blockchain.

So you have FB, twitter, and google – the three whales of social media all banning predominantly ERC20 token ads. Thus, there's a significant amount of people flocking from eth because the money is leaving.

I believe when twitter comes out officially with the ad ban announcement, we'll see a further drop in eth to about the middle of $400. I think this is a good bottom for Eth. I don't see Eth falling below $350, and if it does, then that's a huge steal.

Eth is still a leading cryptocurrency with its versatile and innovative features. It still attracts legitimate startups to its blockchain given the ease of creating an ERC20 token. And there are far too many legitimate companies built on the eth blockchain.

Eth should honestly be near BTC's price a lot more than Bitcoin Cash. So I feel as though Eth is at least 20x undervalued, but you won't see that value until all this regulation FUD clears.

Once everything has stabilized we should see a clear growth in Eth's price.

I also heard somewhere that EOS team was dumping ETH and then there was other fud that may have caused panic in investors. It's a good time to buy but not so great time to sell. I think it should recover fine once fud settles down but I'm not sure if it'll reach $1000 anytime soon.

[J Sykes]

Allot of the dip is due to EOS dumping a whole bunch of ETH onto the market.
Eth they received during their ICO. On top of it being allot to dump on the market it also made a few investors feel slightly insecure and question the long term success of the platform.

[Lovecove]

It looks like I was unfortunately correct, and the market has turned more bearish. ETH has now dipped to $472, at the time of writing this.

@Coingrinder:

Although ads do help bring in new investors, I don't see it having a tremendous impact .

I'm not here to mince words, but it looks like the ads did have an impact and are continuing to have an impact on keeping the price down.

Added to that, someone just told me that Medium is now banning crypto ads!

@lider1971

Blocks in the main information portals are likely to be very negatively displayed at the real market price of most projects. They have too much influence on capitalization.    

I really like your take on this. It's not the ads themselves but that main sources of crypto info and crypto news are getting censored per se.

Now I can't find info anywhere saying that Medium is actually banning crypto articles... but if this is true, we're going to see another massive drop. If ETH hits $300, that's certainly a steal within a steal. No doubt, whichever ERC20 token you're interested in will be that cheap too. I'd advise buying into it hard at that point lol.

Medium is a huge crypto news source, in fact, I'd argue that it's the only news site for crypto. You have twitter, then the company blogs of coins, and then you have Medium. In fact, most alts' sites have a “Blog” link that simply redirects you to their Medium blog page.

So it's really going to be serious if Medium bans crypto. An effect that would send prices tumbling very hard and too much panic. You'll have over 20 coins scrambling to find another place for their blogs, and they'll have to immediately create a blog section on their respective sites.

Would be chaos.

[starblocks]

It did lose some ground around that time but getting closer to $400 is because the whole market has been in a recent downtrend

Facebook just changed its policy toward crypto advertisements and hopefully other social media platforms will do the same which should solve some issues