Bitcoin Price Falls Below $8,000 & Cryptocurrency Market Slump as Twitter Ban Ads

Bitcoin Price

BTC Price: Bitcoin being the top crypto has undergone a great fall this week. The price of Bitcoin (BTC) has declined by 7% today and its current price is $7,907.79 USD. The crypto market is down and all the top cryptos are in red which resembles the bloodbath as same earlier this year.

The main reason for fall in the cryptocurrency market is that Twitter announced that it would ban advertising for cryptocurrencies, following Google and Facebook’s crackdown that aims to protect investors from fraud. It is also to crack down duplicate in initial coin offerings. The company said that they added the new policy for Twitter ads related to cryptocurrency.

Bitcoin Price

New Policy: Twitter Banned Crypto Ads

According to the policy, the advertisement of ICOs and token sales will be prohibited globally. Adverts pertaining to ICO tokens, exchanges or wallets will all be affected by the ban. However, public companies that are listed on some of the biggest stock markets will not be hamstrung by Twitter. This decision will ensure the safety of the Twitter community.

Bitcoin Predictions

Bitcoin has dropped roughly 60 percent from its high near $20,000 in December, according to Coinbase. Earlier this year, the price of Bitcoin falls below $10,000 and has reached $6,000. It has recovered slowly too 9k. But this week again the price has declined below $8,000. It is not able to predict about Bitcoin in future. However, the price of Bitcoin will definitely rise again and reach as same as last year. Crypto traders are in the confusion whether it is the end for Bitcoin and a good opportunity for buying.

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Bhuvi is a passionate blogger, working on many news websites as a freelance writer. She covers sports news in News 24x7.

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