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Bitcoin Plummets Amid Negative Press
The price of bitcoin keeps tumbling, dipping below $8,000 for the first time since November, following a wave of negative press stories regarding cryptocurrencies. At the time of writing, 10.45am EST on February 5, the price of bitcoin was $7,410, according to Coindesk, down from $10,166 at the end of January and down from $13,412 at the start of 2018. On January 30, Facebook announced in a blog post by Rob Leathern, its product management director, that it has banned advertising for cryptocurrency products on the social media platform. “We’ve created a new policy that prohibits ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings and cryptocurrency,” says Leathern in the blog.

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