Is Bitcoin in Pakistan still relevant? Earlier this year Facebook cracked-down on Cryptocurrency related advertisement. Now Google has also announced an official ban on the coins and ICO advertisement as well.
To our surprise, this news did not cause panic or stress among Pakistani investors. This can mean two things. Either the investors have pulled out their money or they do not care about the coins anymore. Whichever is the case it makes the traders very anxious who are still in because it is getting hard to predict the future of Bitcoin in Pakistan or anywhere in the world.
In our opinion, the reason for banning the advertisement are scams, not the technology. Ever since the rise of Bitcoin to $1000, there are scams and scammers in all our Facebook news feeds and groups. (Share the post if you agree)
Most scammers were promoting their scams through Google Adwords and Facebook. Money isn’t the only concern for these companies and promoting scams brings the bad name. This is a good enough reason to ban Cryptocurrency ads but why all and not only scams? Because it’s getting hard to differentiate which ones are scams. No company can afford to background check thousands of companies for legitimacy. So, only because of scammers the whole community lost the privilege to advertise.
Most traders made the last buy on 1.8 million in hopes that Bitcoin in Pakistan will cross 2 million. There are few factors that can make bitcoin in Pakistan rise from under 1 million to 2 million+.
In our opinion those factors can be:
- Acceptance and regulation of bitcoin in Pakistan or any other country.
- Few tech giants or traders decide to make this technology work and put in huge investment in coins.
If you liked the post share it with your friends and if you think there are more factors that can give rise to the fallen Cryptocurrency, please comment below and let us know.