Google Says Ban of Crypto & ICO Adverts Near, Ethereum is in Trouble
The statement from Google will add fuel to an already nervous cryptocurrency and ICO marketplace.
Market Psychology of Speculators Facing an Important Test
Google has announced they will begin to suspend cryptocurrency and Initial Coin Offering advertisements. Google has now joined Facebook by issuing a ban and its effect may cause more turbulence on already beleaguered cryptocurrencies. Many of the major digital assets are testing low water marks last seen in early December of 2017, which was before the huge upsurge in values for cryptocurrencies took place. The next few days could prove very important for market psychology among speculators.
Ethereum Swimming in Danger Waters, Sustaining Buying Yet to Emerge
Ethereum is within a dangerous range for speculators. The current price of Ether is near 690.00 U.S Dollars per coin. Extremely important support for Ethereum lurks around 624.00. And should that support juncture fail to hold, speculators could be concerned Ether may aim for its late November and early December ratios between 500.00 and 400.00 U.S Dollars per coin. Ethereum has been under a wave of pressure the past week without any sustained buying yet to emerge short term.
Euphoria among Speculators Wearing Thin as Steep Losses Hurt
Euphoria among cryptocurrency traders may be wearing thin. Since December’s 2017’s massive run-up in value, the marketplace has not been stable. Most major cryptocurrencies are now back to their early December price ratios. Which means many speculators who joined the frenzy in December are looking at potentially steep losses. The question traders need answering is: when will stable ranges emerge for values in order to practice better risk management?
Innovation Blockchain Event in NYC Next Week
On March the 22nd an Innovation Workshop for Blockchain will be held in New York City, it will include participants from the financial and banking sectors.
- March 22nd, U.S, Innovation Workshop: Finance and Banking on Blockchain
Yaron Mazor is a senior analyst at SuperTraderTV.
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