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Latest Ethereum News
Luckily, open source projects are manned by the community. The community is made up of an army of loyalist, not motivated by financial gains but by passion. All they need is a platform to launch products for the benefit of the community. The end result is unparalleled vigilance. Itâs this vigilance that a startup, Decenter, spotted Googleâs attempt to block âEthereumâ search word from their advertisement.
We are seeing a hard stop on Google Ads containing "Ethereum" as the keyword in the last two days. Is anyone else noticing the same change? Where there any new policy changes introduced @GoogleAds? #ethereum pic.twitter.com/P5XMGphdiV
â Decenter (@DecenterTeam) January 10, 2019
Read: Japanâs Society is Taking Cryptocurrency Adoption Forward with Friendly Laws, Taxes and Shops
As one of the monopolists, a large chunk of their revenue is drawn from advertisement and therefore it was quite absurd why they appeared to be unofficially reinstating a ban on âEthereumâ keyword, a crypto platform they had excluded in their last public policy announcement. Online commentary was split with some against Google approach. A Reddit user, noob09 said:
âI have been unable to use the âbitcoin' (or even âblockchain') on my google ads as well. This is an outright ban on anything crypto related. I understand Google's motivation to curb scams but this is also hurting numerous legitimate startups in the space.â
While another countered saying:
âtons of scammers are creating fake advertisements that lead users to fake exchanges, wallet services, and phishing sites. Thereâre very good reasons to ban cryptocurrency advertisements because they are a magnet for fraud.â
Ethereum (ETH/USD) Price Analysis
The community has raved and a few hours to the much-awaited Constantinople, ETH is up 9.3 percent at the time of press. At this rate we expect ETH momentum to build up, reverse losses of Jan 9-13 and begin the process of recouping Nov 2018 losses.
Note that ETH is in consolidation and after peaking at $170 earlier this month, the decline from Dec 2018 highs may have confirmed the bear trend continuation pattern, the third phase of the bear breakout pattern of Nov 19 when prices broke down below $170.
Should bulls recover and thrust prices above $170, then the bear breakout pattern that exerted pressure on ETH in Q4 2018 could be nullified as bulls set their eyes on $250. Meanwhile, yesterdayâs surge from the 50 percent Fibonacci retracement level could be the building block for further higher highs above $200 as Fibonacci retracement reversal pattern dictates.
Going forward, aggressive traders stand to profit if they buy at spot prices with fitting stops at $120âwhich coincidentally marks the base of the Dec-Jan Bull Flag. First targets will be at $250âor Oct 2018 highs.
Our Ethereum (ETH/USD) trade plan will, therefore, be as follows:
- Buy: spot
- Stop: $120
- Target: $250âOct 2018 Highs
All Charts Courtesy of Trading View â BitFinex
Disclaimer: Opinions are those of the author. Do your Research.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.