Market Plummets; Google's Ban And House Hearing Responsible?

Today, the crypto market faced a great drop of more than 15% of its starting value. It is the second week that prices keep falling at double digits; the last week, the market also plummeted due to rumours of a Binance hack (that was controlled and reversed), and due to the reveal of the MtGox’s trustee, who sold more than 400 million bitcoin “at the best market price possible”.
But now, the market seems to be influenced by the recent announcement from Google. It was announced via a blog post that all crypto related advertising would be banned starting next June. This also affects ICOs advertising and some exchanges. This raised mixed reactions in social networks. Some applauded the measure, stating that most ICOs that used advertising for raising money were scammy; but others criticized Google’s policy and raised the freedom of information flags.
The other event that could be influencing market prices to go down, is the regulatory onslaught that was crowned with today’s Congress’s hearing about cryptocurrencies and ICOs. The result of the said hearing is not clear at the moment, but the important part is that, at last, the Congress is stepping in to order the state of turmoil of the market today. This is viewed as a negative thing for most.
The truth is that the market total value shrunk today to $314.970.328.15, according to CoinMarketcap, with every important cryptocurrency losing value. This shows that cryptocurrencies are as volatile as ever, and that every event (as little as it can be) affect this capricious and treacherous market.

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