The price of cryptocurrencies is always fluctuating and seems to be impossible to predict. Although there is one factor which seems to have a direct impact on crypto prices and ICO’s. The driving force behind ICO’s and crypto tokens are adverts, without adverts no one would be able to know when a new coin is being offered and when a current token is for sale.
Google and Facebook are banning cryptocurrency advertising, with Bitcoin ads already being blocked by major search engines and social networking sites like Facebook. By June, adverts from cryptocurrencies, ICO’s, wallets and exchanges will be banned.. following on from Facebooks ban of crypto in January.
The ad ban is part of Google’s crackdown on scam tokens and unregulated financial products. Google said in a blog post: “We updated several policies to address ads in unregulated or speculative financial products like binary options, cryptocurrency, foreign exchange markets and contracts for difference (or CFDs).”
Google also said: “As consumer trends evolve, as our methods to protect the open web get better, so do online scams,” said Scott. “Improving the ads experience across the web, whether that’s removing harmful ads or intrusive ads, will continue to be a top priority for us.”
How Is Ripple Affected By Ads?
The price of Ripple (XRP) is subject to fluctuation when people stop purchasing and trading cryptocurrencies. With the ban of ads this means that less people will be purchasing digital coins or tokens, and as a result XRP trading volume will lower, together with all the other main currencies. and exchanges will be trading less. This causes stagnation of cryptocurrency market and lowers cryptocurrency prices across the board.
Another reason for Google banning cryptocurrency ads may be because they are trying to create their own cryptocurrency network. By banning other big cryptocurrency ads, Google leaves a major hole in the market which they intend to fill. In the future we could see some type of GoogleCoin.. if so this market domination will cause other cryptocurrencies like Ripple to plummet.
Although this is complete speculation, the banning of cryptocurrencies ads will undoubtedly cause prices to drop. Over the next few months it will be clear to see what comes of the crypto ad ban.