Facebook’s lifting of its controversial ban on bitcoin advertising will prove to be another catalyst for the unstoppable cryptocurrency revolution.
The lifting of this controversial ban must be welcomed. While we respect Facebook’s good intentions behind prohibiting the adverts, an outright ban on new concepts and innovation is seldom a positive or helpful stance.
With the social media giant taking this proactive step, which is fueling global speculation that it could now also have its own crypto ambitions, I believe history will show that this decision to lift the ban will prove to be another catalyst for the unstoppable cryptocurrency revolution.
The crypto market has been in bear territory over the last week or so. Facebook’s step can be expected to help take it back toward the bulls.
While there is likely to be bearish sentiment for a while, savvy investors are looking at the bigger picture. For instance, bitcoin, the flagship cryptocurrency, is still 140% higher than this time last year.
The long-term trajectory for cryptocurrencies is upward. I believe this to be true for four main reasons. The world needs and demands digital currencies in a digital age.
Also, cryptocurrencies are beginning to be adopted by established financial institutions. And household name retail and institutional investors are jumping on board the crypto train.
Finally, regulation of the cryptocurrency sector is now becoming inevitable. Facebook’s latest step, and indeed its next moves, are likely to have a positive impact on the crypto space.