The crypto markets have taken a hit today, March 15, with Bitcoin (BTC) dropping below $8,000 and Ethereum (ETH) below $600. The slump can most likely be attributed to Google’s update of its Financial Service policy that means a ban of all crypto-related advertisements starting in June 2018.
As the crypto ad ban won’t go into effect for another four months, CNBC anchor Jon Fortt tweeted an image yesterday of a cryptocurrency Google-served ad up on the CNBC news piece about the Google crypto-ad ban:
— Jon Fortt (@jonfortt) March 14, 2018
The last time BTC’s price was below the $8,000 line was over a month ago, on Feb. 6, as part of a general market drop that has since been attributed to the large sell off of BTC by a Mt. Gox trustee. BTC is currently trading at around $8,928, down almost 8 percent over a 24 hour period by press time.
Ran Neu-Ner, the host of the Crypto Trader show for CNBC Africa, tweeted yesterday, March 14, that he had lost a bet with Civic CEO and industry influencer Vinny Linghamafter BTC went below $8,000:
— Ran NeuNer (@cryptomanran) March 14, 2018
ETH is currently trading at around $619, down almost 9 percent over a 24 hour period by press time. The last time ETH had dipped below $600 was also on Feb. 6, a little over a month ago.
Total market cap is currently at around $332 bln, a level that it last fell below on Feb. 6…