{"id":40765,"date":"2018-03-30T13:06:28","date_gmt":"2018-03-30T20:06:28","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=40765"},"modified":"2019-11-07T02:56:15","modified_gmt":"2019-11-07T02:56:15","slug":"cryptocurrency-bloodbath-continues-monster-rally-looms-horizon","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/cryptocurrency-bloodbath-continues-monster-rally-looms-horizon\/","title":{"rendered":"Cryptocurrency Bloodbath Continues as \u201cMonster Rally\u201d Looms on Horizon"},"content":{"rendered":"

The cryptocurrency market is currently in the midst of an ongoing bloodbath, with the value of Bitcoin \u2014 which holds a significant influence over the rest of the market \u2014 dropping below the $7,000 threshold for the first time this year. While crypto-negative speculation tests the resolve of skittish investors, however, market analysts are highlighting technical indicators that foreshadow a strong rally and a potential Bitcoin<\/a> run-up to $20,000 by July.<\/p>\n

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Related Story: “Cryptocurrency Market Bounces Back on Positive G20 Watchdog Statements”<\/figcaption><\/figure>\n

Despite bullish developments within the cryptocurrency ecosystem which include a positive G20 financial summit<\/a> stance to crypto regulation, CBOE support<\/a> for Bitcoin ETFs, and distributed ledger tech support from telecommunications giant T-Mobile<\/a>, investor sentiment is fluctuating, sparking a possible repeat of February\u2019s \u201cRed Tuesday\u201d Bitcoin price drop to below $6,000<\/p>\n

Why is the cryptocurrency market red across the board, though, and what does this mean for the future of the market? Has cryptocurrency lost its footing? Leading Wall Street analysts don\u2019t think so, with several predictive models promising an imminent bull run.<\/p>\n

MailChimp Bans Cryptocurrency-Related Accounts<\/h2>\n
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MailChimp is a marketing automation platform and an email marketing service, founded in 2001.<\/figcaption><\/figure>\n

The rapid decline in values across the board is linked to a spate of announcements that have spooked investors, beginning with Twitter and LinkedIn confirming that both platforms will ban cryptocurrency advertising at the beginning of the week.<\/p>\n

The negative impact of the announcement was exacerbated by a statement from MailChimp \u2014 one of the most popular marketing automation platforms in the world \u2014 stating that the platform would be closing all accounts related to cryptocurrencies, as reflected in the updated MailChimp Acceptable Use Policy<\/a>:<\/p>\n

\u201cWe cannot allow businesses involved in any aspect of the sale, transaction, exchange, storage, marketing or production of cryptocurrencies, virtual currencies, and any digital assets related to an Initial Coin Offering, to use MailChimp to facilitate or support any of those activities\u201d<\/p><\/blockquote>\n

MailChimp has since published a Tweet regarding the decision, stating that accounts that disseminate crypto-related information via the platform are excluded from the new policy, but any accounts involved in the \u201cproduction, sale, exchange, storage, or marketing of cryptocurrencies\u201d are prohibited.<\/p>\n

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Cryptocurrency-related information isn\u2019t necessarily prohibited. It can be sent as long as the sender isn\u2019t involved in the production, sale, exchange, storage, or marketing of cryptocurrencies. Our Acceptable Use Policy goes into more detail: https:\/\/t.co\/JnHajBEUNk<\/a><\/p>\n

— MailChimp (@MailChimp) March 29, 2018<\/a><\/p><\/blockquote>\n