Last week there was a wave of advertising bans and ICO. So Google, Instagram, Facebook, Baidu, completely banned the promotion and advertising of block projects. Next in line is Twitter. Such events today have a negative impact on the overall market trend. So we see that the course is in the hands of bears. However, some experts believe that such prohibitions are a positive moment for bitcoins and other coins, in the long term.
"The news is not the most pleasant, but it is worth considering the situation from a different angle. Banning advertising crypto and ICO, will not allow to enter the market fraudulent projects, which in our time, unfortunately, quite a lot. Already existing crypto-currencies will remain, which will lead to greater stability and a high level of investor confidence, "Craig Cole, director and founder of CryptoMaps, commented on the situation.
Last year, many people suffered from unscrupulous developers. So some projects that collected several million dollars, just disappeared without a trace with all the contributions. This provokes a lack of trust in a reliable and active ICO. In addition, some developers of small projects that use the Etherium platform use incorrect and complicated code, which leads to problems with scalability of the network.
Craig Cole also added that after all suspicious and minor projects have left the market, and the news of the market will crypt out about the new rally of coins and first of all the growth will be demonstrated by bitcoin. The coins that we see today in the TOP-10 on CoinMarketCap do not need advertising, so they will only be banned from advertising. But not everyone agrees with this opinion.
Some believe that banning online advertising by giants will be able to provide protection from scammers for a short period of time. However, such actions can affect the entire crypto industry, which will now be even more difficult to move forward.
It is important to note that Google and other companies have made this decision under the strong pressure of various regulatory bodies. Revenue from advertising in 2017 in google. Exceeded $ 25 million, so it becomes obvious that the ban on advertising, it was forced action.
Good projects will look for other options for reaching the masses, and PR managers will look for new options for promotion. It is difficult to say what is better, the growth and stable existence of existing crypto-currencies, or the general development of the entire industry as a whole. Opinions differ, but we only need to monitor the situation that has developed in the crypto community today.