Punch-drunk from a series of crunching blows, dazed and confused, staggering for the ropes. It’s hard not to get the image of Bitcoin being pummeled by the market, getting the wind knock out of it. But is this picture true? Instead of focusing on what swirls around in the media, a cautious investor would instead reach out for what might drive their profits.

Google has moved to ban Bitcoin-related adds. This shouldn’t be particularly surprising, given the fact that there’s been precedent in the form of Facebook pursuing similar actions. In an article on CNBC, we read:

Bitcoin prices briefly fell below $8,000 on Wednesday following news that Google, the world’s largest online ad provider, plans to ban cryptocurrency advertising.

Facebook, the second largest online ad provider, took similar action in January.

Tech giant Google announced an update Wednesday to its financial services policy that will restrict advertising for “cryptocurrencies and related content” starting in June.

Bitcoin fell 12 percent in late January after Facebook announced it would ban ads on “binary options, initial coin offerings and cryptocurrency.” The social media giant said it would prohibit ads for financial products and services “that are frequently associated with misleading or deceptive promotional practices.”

It’s always tempting to associate moves in the market with pieces of information coming in from the media. This is a tenuous relationship at best but the real question is if this has got anything to do with Bitcoin and if it could increase the profits on our hypothetical positions. Let’s break this down.

If Bitcoin doesn’t really react to the news of a Google ban, then it might be best for our readers to look at the short-term picture and sense the waters this way. If, however, the current move is linked to the ban, we possibly have an important indication on our hands, one which extends signs we saw a couple of days ago. As it turns out, whichever interpretation is correct (influence of the ban or complete lack of impact), both points of view lead in the same direction.

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