[2018-03-15] Bloodbath for cryptocurrencies as Bitcoin sheds 10%, now down 40%

[adel hmdt]

The price of the No. 1 digital currency extended a brutal slide on Wednesday, adding to its recent losses amid another wave of negative news.

A single bitcoin BTCUSD, +2.21% last traded at $8,248.16 late-Wednesday in New York, down 9.9%, after hitting an intraday low of $8,219.73, a 40% decline from the beginning of the year.

Google updates financial services
After beginning the day on the back foot the losses for bitcoin intensified after Google GOOG, +0.04%  announced it was updating its financial-services policy, saying ads will no longer be allowed to service “cryptocurrencies and related content.”

Google said the related content includes those for initial coin offerings, or ICOs, cryptocurrency exchanges and wallets. While the news isn’t ideal for crypto investors.
https://www.marketwatch.com/story/bitcoin-tumbles-further-as-google-clamps-down-on-crypto-advertising-2018-03-14

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[Coin-1]

Google updates financial services
After beginning the day on the back foot the losses for bitcoin intensified after Google GOOG, +0.04%  announced it was updating its financial-services policy, saying ads will no longer be allowed to service “cryptocurrencies and related content.”

Google said the related content includes those for initial coin offerings, or ICOs, cryptocurrency exchanges and wallets. While the news isn’t ideal for crypto investors.
https://www.marketwatch.com/story/bitcoin-tumbles-further-as-google-clamps-down-on-crypto-advertising-2018-03-14

I think Google isn't guilty in the current panic sale -15%. The reasons of this global fall are not obvious yet, but the rich investors and venture funds know a lot, and they are going out from the crypto exchange markets in the high priority. I guess that we are expecting bad news concerned to the world geopolitics in the near future.

[BitHodler]

Market was on its way down already, and that process speeded up the moment became clear that MtGox has been dumping coins quite recklessly. The thing worrying traders is the fact that they still have like ~160,000BTC.

With that in mind, and the lower overall demand, there is just one open road for the market, and that's the road towards the South. It's a great time for people looking to accumulate coins for a longer period of time.

Last year people were accumulating on the way up, and now they can do that on the way down, which means that you get more bang for your buck. As soon as my salary posts, I'll convert 25% of it directly to Bitcoin.

I however have to wait till the end of the month.

[motoprose]

Other then google announcing they are retracting any ads containing bitcoin and cryptocurrencies due to influencing people to invest in it thus losing money
Facebook has also said they are pulling the plug on any adspace purchased on their website entailing anything to do with bitcoin and any other cryptocurrenies as well in late June.

[nhanhzam]

Ahhh, the Mt Gox dude is still selling off his holding. And mainstream media is spreading FUD like crazy. We can expect the price to be down for a couple of months. But i think things will get brighter later this year.
 

[entrepmind23]

With the recent sell-off of bitcoin by Mt. Gox trustee, binance "hack", then google banning cryptocurrency ads, it seems that FUD is never ending. Add to it the opinion of "experts" again valuing bitcoin as zero and so we are heading south. There is just so much FUD that may pose a sign that the bear market is almost over? We may wait for sometime but this bear market will come to an end and we will go back again to our happy days. For those that still have funds, this is a good time to accumulate more and for those who don't have any then just hold. I can see some people already selling and decided to totally leave the cryptocurrency world.

[RamonBTC]

In time like this the community must unite to depend cryptocurrency to those who’re against it for an invalid reason. It’s doable, but if only we do an effort to it. When will be our voice be heard, a petition would be a start. But our anonymity be compromised and that’s doesn’t be a good thing. We need to sacrifice for something we adore. We need a representative politically.

[CryptoBry]

This whole thing happened many times before and I am sure that soon many fund managers would be rejoicing to be able to buy Bitcoin at a much lower rate...they are just guessing now if this can be the lowest that Bitcoin will get into before bouncing back. Less than a month from today...there is a big chance that Bitcoin can be back at $11-12K level and if you buy it below $8,000 then the profit can be so good...you can never found any other investment vehicle that can give such a good return fast. Bitcoin can go low and then can slowly get high...that is a fact.

[Theb]

I am surprised that there are still news circulating for why Bitcoin is going down when we are already on a down trend already. Ever since late January started news from Japanese exchanges being hacked, Mt. Gox, Facebook banning crypto-related ads, and now Google. All of them seems to be why we are going "down" as of the moment. This so-called news sites are only creating content and making a new story while just by simply looking at the chart is enough to tell that Bitcoin is not yet on a up trend or even at least having a reversal.

[Kemarit]

With the recent sell-off of bitcoin by Mt. Gox trustee, binance "hack", then google banning cryptocurrency ads, it seems that FUD is never ending. Add to it the opinion of "experts" again valuing bitcoin as zero and so we are heading south. There is just so much FUD that may pose a sign that the bear market is almost over? We may wait for sometime but this bear market will come to an end and we will go back again to our happy days. For those that still have funds, this is a good time to accumulate more and for those who don't have any then just hold. I can see some people already selling and decided to totally leave the cryptocurrency world.

FUD will be here no matter what sentiments we are in. Its like a shadow that will follow us wherever we go. As for the Mt. Gox trustee offloading, he's just another factor and the rest are FUD. Binance already take the necessary steps before it goes out of hand, and now Goggle banning ads maybe also be another contributing factor. Yes, I wanted to see this bearish market came to and end, however, there is the G20 summit meeting about crypto regulations still up and we don't know how it will affect the market. Although I read that Lightning Network is already operation, but I'm not sure if this is true though. And I'm also seeing the market going green today, maybe we can see another push to $9000 or higher, so let see.