Boosters See Bitcoin Reaching New Heights Real Soon Despite Setbacks

Social media platforms like Facebook and, this week, Twitter, banning cryptocurrencies advertisements along with regulatory concerns should have little long term negative impact on bitcoin, at least one noteworthy investor claims.

"The bans on Google, Facebook and Twitter are welcome because there's too much noise and too many ICOs," David Drake of LDJ Capital told inc.com.

The problem of course is that numerous ICOs over the past year have come and gone without a trace, scamming unsuspecting investors in the process.

Blake recently told Bloomberg he sees bitcoin hitting $30,000 by the end of 2018.

"I think it's a great time to get involved in crypto now," Drake told me. "Everything is so depressed. News is manipulating the prices continuously and there's a lot of fear and uncertainty globally."

The cryptocurrency dipped slightly below the $8000 mark on Monday.

- Aaron Goldstein, Gambling911.com