Bitcoin News and Price Overview: Google and Facebook Backtrack On Earlier Position On Cryptocurrencies. Tuesday, July 24
Important Bitcoin News
Google and Facebook Backtrack On Earlier Position On Cryptocurrencies
The world’s largest social network, Facebook seems to have reconsidered their stance on cryptocurrency ads and support. The revelation came on Saturday after Coinbase CEO made a Twitter post announcing that Coinbase has been whitelisted by the social network.
In the tweet, Brian Armstrong, the CEO said, “Facebook banned ads for crypto earlier this year. Proud to say we've now been white listed and are back introducing more people to an open financial system."
The news was an uplifting one for the crypto community resulting in 160 comments to the post as at the time of filing this report. The news came at a time Bitcoin is experiencing an upward swing and the market reaction was predictably positive.
Also, Google which earlier this year announced its plan to ban cryptocurrency-related ads also started displaying currency converter in its searches, allowing users to know the value of any digital currency in their local currency.
Bitcoin makes More Gains As It Pushes $8,000 Leaving Major Altcoins In Losses
The positive swing for Bitcoin that commenced mid July has seen the coin continue making gains even as some major altcoins struggled to maintain a positive momentum.
Bitcoin has gained 3 percent in the past 24 hour having traded at $7,740 although the coin has not yet succeeded in testing the $7,750 mark. As of today, a rapid price increase happened and after a long period of anticipation, Bitcoin has finally broke past $8,000 and is still heading up.
Bitcoin last week gained $1000 in a couple of days, raising speculations that the present rally is the catalysts to the recovery of the coin that lost more than 60 percent of its December value.
The coin today boasted its highest capitalization of 2018 surpassing 46 percent, value seen since December 22, 2018 when the coin traded at its all-time-high of nearly $20,000.
BTC/USD Price Chart, Tuesday July 24th:
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