Bitcoin Watch – Bitcoin dives almost 10% after Twitter bans ads

The extremely volatile nature of Bitcoin strikes again, this time as a result of Twitter banning ads on its platform. The cryptocurrency fell almost 10% overnight to under USD7,900, despite positive improvements over the last week. Yesterday, Twitter announced it would ban advertising for cryptocurrencies, following similar bans by Google and Facebook to crack down on fraud in initial coin offerings. A Twitter spokesperson told CNBC, “We are committed to ensuring the safety of the Twitter community. As such, we have added a new policy for Twitter Ads relating to cryptocurrency. Under this new policy, the advertisement of Initial Coin Offerings and token sales will be prohibited globally.”

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