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Twitter Joins Google, Facebook in Crackdown – What About Japan?

Twitter announced that it will join other tech giants in a policy that will prohibit advertisement of Initial Coin Offerings (ICOs) and token sales – this is clearly a global effort to join in with the SEC in the US and the FSA in Japan to address potential risks to consumers in terms of protecting them from fraud. Note that two massive heists in Japan, of major cryptocurrencies totaled almost one billion US dollars.

Still, Japan remains committed on a public and private level – keeping a leadership position in Blockchain.

The possibility of a ban was reported and as a result, Bitcoin prices fell, as it did when other tech leaders announced similar advertising bans, to near the $7,000 level (please reference our video on the downside support below the $8,000 level, as Bitcoin seems to be forming a classic chart pattern). Here at Classiarius, we see a solid base forming roughly from $8,000 to the $7,200 range. This is not a recommendation to buy, just an observation from our in-house technical analysis.

Some digital coins are down between 30 and 70 percent year-to-date, a shocking aggressive selloff and one that some will not survive. Much of this sell off has been attributed to The US Securities and Exchange commission stepping up efforts to police fundraising as it issued subpoenas in early March – concerns have been raised at the recent G20 meeting.

Still, we see Japan as a strong player in the new technologies that will eventually arise from Blockchain technology in the coming years. And we see the recent sell off and weakness as a way of ensuring that only the strong survive.

From Shibuya

Team Classiarius

 

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Classarius is the only data driven news for blockchain, cryptocurrencies and technology from investment professionals.

Disclaimer: We do not provide investment advice or strategies, this article is not intended as such but only to provide you the reader with information. Please conduct your own research before any investment of any kind.

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