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Microsoft’s Bing Ads blocks over 5 million ads related to Bitcoin [BTC] and other cryptocurrencies

Priya

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Microsoft's Bing Ads blocks over 5 million ads related to Bitcoin [BTC] and other cryptocurrencies
Source: Unsplash

Bing, one of the leading search engine platforms around the globe, released a report on January 25, 2019, stating that they blocked more than 5 million ads related to cryptocurrencies. Notably, Bing Ads were third in the suit to announce a ban on cryptocurrency advertisements last year, after Facebook and Google.

The platform is well-known as it is operated by Microsoft, which promotes paid advertisements on Microsoft, Yahoo, and other platforms. Prior to the acquisition by Microsoft, Bing Ads was known as Adcenter.

The blog post said:

“While digital advertising is incredibly powerful and open, it is also prone to abuse by bad actors trying to defraud and deceive users by delivering harmful and misleading ads, with persuasive content and innocent looking URLS that lead to phishing, malware attacks and other types of fraud.”

This was followed by the platform stating that all the advertisements displayed on the platform were “evaluated” with their latest Artificial Intelligence technology and their human review experts, who then removed the bad actors functioning on the platform.

Furthermore, the team stated that around 200,000 accounts were suspended from their platform in 2018, besides the 900 million bad advertisements and 300,000 bad websites which were also taken down.

The blog post further spoke about cryptocurrency ads displayed on their platform. It read:



“Cryptocurrency as an asset class saw a bull run in 2018, increasing valuations multi-fold. The high returns and volatility of cryptocurrencies invited a lot of interest from retail investors and speculators looking to make a quick return.”

It added that the “overall pseudo-anonymity” in cryptocurrencies such as Bitcoin [BTC] resulted in it becoming a “prime target” for fraudsters and scammers to “defraud end-users” because of the lack of regulatory clarity on the cryptocurrency space.

The team stated:

“Bing Ads therefore decided to ban cryptocurrency content from our advertising platform and blocked more than 5 million ads containing cryptocurrency content.”





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

XRP

Has XRP decoupled from Bitcoin? Is it due to immense pressure from manipulators?

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Hash XRP decoupled from Bitcoin? Is it due to immense pressure from manipulators?
Source: Unsplash

Opinion: Bitcoin, the first cryptocurrency, has had over ten years to grow. However, other altcoins did not have the liberty, due to which Bitcoin exerts its dominance over almost all altcoins in the ecosystem, be it Ethereum, XRP, or Cardano. The price of altcoins generally tends to rise if Bitcoin’s price surges rapidly. The same can be said about the downtrend as well, which is why altcoins are said to be coupled with Bitcoin.

However, the recent buzz on crypto-twitter is that XRP is on the verge of decoupling from Bitcoin. A Twitter user @XRPMOONSHINE tweeted:

“DO ME A FAVOR OPEN UP A BTC/USD CHART AND AN XRP/USD CHART. THEY HAVE DECOUPLED AND ARE MOVING DIFFERENTLY.”

In a very general sense, the comparison of the price change of XRP and BTC gives a crude understanding of whether the prices have actually decoupled or not. Hence, the daily chart attached below shows the price of BTC and XRP against the US Dollar and extends from August 2018 to April 2019. The price of XRP seems to be following a lag from the price of BTC and do not necessarily mean that it has decoupled.

However, there are timeframes where the price of XRP has moved completely unrelated to that of Bitcoin. For example, the meteoric rise of XRP from September 18 to 22 was far higher than the price pump of BTC over the similar timeframe; but the drop of XRP from November 18 to December 16 was exactly the same as that of BTC’s.

Furthermore, XRPMOONSHINE suggested that XRP price was being manipulated. He tweeted:

“It is being manipulated to keep it from rising. For example look at XRP/BTC pair. Keeping it under the down sloping resistance from .80 in September. Thats what I mean by Suppressed, Although im expecting a fairly large move to the upside before 4/24/19.”

The “idea” of the price of XRP being manipulated is not unpopular within the XRP ecosystem as Peter Brandt, a famed trader, suggested the same in one of his tweets.

Brandt tweeted:



Conclusion

XRP may have started to decouple from Bitcoin, but it surely hasn’t decoupled completely. The notion that XRP is being manipulated to keep its price below certain levels can also not be confirmed without proof.





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