Categories: Cryptocurrencies

Facebook move to boost crypto space

“Whilst 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,” he says. “With the social media giant taking this proactive step, which is fuelling 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 towards the bulls, Green believes. “Whilst 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.”

He adds: “The long-term trajectory for cryptocurrencies is upward. I believe this to be true for four main reasons. First, the world needs and demands digital currencies in a digital age. Second, cryptocurrencies are beginning to be adopted by established financial institutions. Third, household name retail and institutional investors are jumping onboard the crypto train. And fourth, regulation of the cryptocurrency sector is now becoming inevitable.”

Scott Thompson

Scott has been working in technology and business journalism for nearly 20 years, with a focus on FinTech, retail, payments and disruptive technology. He has been Editor of such titles as FStech, Retail Systems and IBS Journal and also contributed to the likes of Retail Technology Innovation Hub, PaymentEye, bobsguide, Essential Retail, Open Banking Hub, TechHQ and Internet of Business.

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