Bitcoin price LIVE: Facebook sends BTC boost

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8.00am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin is priced at $6,108 following an overnight dip and recovery. Ethereum has dropped to $433 with Ripple down at $0.46. Facebook has decided to drop its controversial ban on cryptocurrency adverts is what could well be a massive boost for all cryptocurrencies. In January Facebook said that it would “prohibit 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.” The statement announcing the u-turn said: "In the last few months, we’ve looked at the best way to refine this policy — to allow some ads while also working to ensure that they’re safe. "So starting June 26, we’ll be updating our policy to allow ads that promote cryptocurrency and related content from pre-approved advertisers. But we’ll continue to prohibit ads that promote binary options and initial coin offerings."

The crypto market has been in bear territory over the last week or so. Facebook’s step can be expected to help take it back towards the bulls. Nigel Green, deVere Group

The news has been soundly welcomed by the cryptocurrency community. Nigel Green, founder and CEO of deVere Group has said that the end of the ban will "prove to be another catalyst for the unstoppable cryptocurrency revolution". Mr Green said: “The lifting of this controversial ban must be welcomed. Whilst we respect Facebook’s good intentions behind prohibiting the adverts, an outright ban on new concepts and innovation is seldom a positive or helpful stance. “With the social media giant taking this proactive step, which is fuelling global speculation that it could now also have its own crypto ambitions, I believe history will show that this decision to lift the ban will prove to be another catalyst for the unstoppable cryptocurrency revolution.” He continues: “The crypto market has been in bear territory over the last week or so. Facebook’s step can be expected to help take it back towards the bulls."

Facebook banned crypto ads to protect users

Mr Green adds that although there is likely to be "bearish sentiment" for a while yet, he adds "savvy investors are looking at the bigger picture. For instance, Bitcoin, the flagship cryptocurrency, is still 140 per cent higher than this time last year.” Further support comes from Iqbal Gandham, UK Managing Director at eToro, who told Express.co.uk yesterday: "We have always advocated for a more sophisticated approach to cryptocurrency advertising, as we believe legitimate providers shouldn't be lumped in with rogue operators. "Customer safety and education about the market should remain a priority, but a blanket ban is a poor approach to new ideas. "Technology giants like Facebook are aware of the potential of blockchain technology to fundamentally change the financial system, so it is good to see that they are giving their customers a chance to contribute." Got something to add? Send your reaction / thoughts / analysis / price predictions over to @DavidGDawkins. Updates below throughout the day....

8.46am - Warren Buffett cryto hater since 2013 CNBC have picked through their Buffett archive to reveal that the billionire Berkshire Hathaway CEO told investors in 2013: "Of our $49 billion, we haven’t moved any to bitcoin.” At the time BTC was priced at $130. The genius investor has since dubbed bitcoin - "rat poison". 11.24am - Is regulation the answer? Gabrielius Bilkštys, Business Manager at Mistertango told Express.co.uk that regulation "will ensure the future of cryptocurrencies". He adds that self-regulation is a positive and democratic approach and contrary to popular perception, "crypto businesses do want regulation". Mr Bilkštys said: “Instability is what those within this community fear most. "For crypto firms, it is difficult to construct a business plan when the market is so unpredictable, and they are crying out for regulation to create stability. If cryptocurrencies are to gain the trust, scale and ubiquity that will see it regarded as equivalent to fiat currencies then regulation is imperative. "If implemented thoughtfully, regulation can be a catalyst rather than an inhibitor for crypto growth.”

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12.21pm - Bitcoin down on the day at lunch Bitcoin is down $33 on the day so far. Christophe de Courson, Co-Founder & CEO of Olymp Captial says that the real threat to crypto comes from price manipulation accusations around Tether. He said: "The most dangerous possibility is for me is the recent paper published 'Is Bitcoin Really Un-Tethered?' by John M.Griffin and Amin Shams. "If Tether is really responsible for the Bitcoin and thus crypto price increase since the mid-2017, these would have dramatic consequences. On the factors that might trigger a price boost, he said: "I think that the main factors able to trigger a resurgence will come from a change in regulation. "We know how much China and South Korea are important markets for crypto. More and more rumours say that these two countries could lift the ICO ban soon - especially South Korea - which will be a strong signal for the market. "Each time regulation will better protect and inform the investor, it will be good for crypto. Indeed, the entire crypto ecosystem, from the custody to ICO themselves need better regulation and promotion, but it needs to be in a way of improving the innovation. "Blockchain-based technology are everywhere and are essential to our economy and our growth. This creates is a major incoherence: you cannot promote innovative technologies that rely on blockchain on one hand while at the same time making it difficult for ICOs to function. "Badly implemented regulation is a brake on innovation."

Bitcoin price LIVE: BoE warns against BTC