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Google Official Claimed "Crypto Winter" Harms Company’s Search Ads Business

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A Google official claimed "crypto winter" harms company's search ads business. Because of this issue, many companies in the sector are now experiencing a liquidity crisis as a result of the collapse in cryptocurrency prices and the beginning of a new so-called "crypto winter."

A cryptocurrency winter is a term used in the industry to describe a prolonged drop in cryptocurrency prices.

Crypto Winter Harms Google's Ad Empire

Crypto winters typically affect well-known currencies such as Bitcoin and Ethereum, as well as non-fungible tokens (NFTs) and lesser-known crypto coins and tokens. Philipp Schindler, Google's chief business officer, said on Tuesday's earnings call for Alphabet's third quarter that a slowdown in revenue growth was partly because crypto companies and other financial firms were spending less on ads.

In the third quarter, we did see a pullback in spend by some advertisers in certain areas in search. For example in financial services, we saw a pullback in the insurance, loan, mortgage, and crypto subcategories.

- Philipp Schindler, Google’s chief business officer

COPYRIGHT_BP: Published on https://bingepost.com/google-official-claimed-crypto-winter-harms-companys-search-ads-business/ by Kelvin Farr on 2022-10-26T12:54:32.819Z

With the exception of the first quarter following the pandemic, Google's overall ad growth of 6% in the quarter was the weakest since 2013. From the previous year, YouTube's ad revenue decreased. The "challenging macro climate," according to CEO Sundar Pichai, is affecting Google's ad business.

Schindler made two references to the crypto pullback but offered no further context or details. The cryptocurrency market suffered in 2022 as a result of investors' flight from risky investments and their selling of digital currencies as well as the related stocks that they had bid up over the previous two years.

The value of bitcoin and Ethereum has dropped by nearly 60% this year. Over 70% of Coinbase's value has been wiped out since the company went public in 2021.

Meanwhile, failures have plagued the sector as hedge funds and lenders struggled to maintain their cash flow and, in some cases, defaulted on their debt. Companies like Celsius Network, Voyager Digital, and Three Arrows Capital are just a few of the better-known ones that collapsed under pressure and filed for bankruptcy.

In a long-awaited policy reversal from 2018, Google will now permit cryptocurrency exchanges and wallets to advertise on its platform in the United States. Advertisers must adhere to local legal requirements, and Google's standard advertising policies, and be registered with the Financial Crimes Enforcement Network or a federally or state-chartered bank entity. Additionally, they must reapply for Google advertising certifications.

Google Ok's Crypto Ads

Google Approves Crypto Ads | What This Means...

People Also Ask

How Long Does Crypto Winter Usually Last?

According to Grayscale Investments, the crypto winter only started in June. The average crypto winter lasts four years, which means crypto may not recover until 2026. Because cryptocurrency is still a new and relatively untested market, it carries a much higher risk than stocks.

Will The Crypto Market Recover In 2022?

The cryptocurrency market may not fare well in the near future. Bitcoin and other cryptocurrencies are still losing value, but not as quickly as they were at the beginning of 2022. Since the typical crypto winter lasts four years, it's possible that recovery won't happen until 2026.

What Do You Do At Crypto Winter?

Here are some ideas for how to stay warm during a crypto winter.

  • Include dollar-cost averaging (DCA): This method of investing the same amount at regular intervals, no matter what the price is, also works in the world of cryptocurrencies, and it can help you deal with the impact of price volatility on your coins.
  • Buy-and-hold indefinitely: Take a break from cryptocurrency and wait for prices to rise again. HODL is a strategy of holding through the ups and downs of the cryptocurrency cycle and selling for higher returns over time.
  • Trading all day and all night: It is possible to make money by shorting cryptocurrencies. Instead of trading with the expectation that a coin will rise, you trade with the expectation that it will fall and capitalize on the gains. This may be the job for you if you enjoy staring at charts and being glued to your computer screen all day and night.
  • Put your coins in cold storage
  • Read and research with patience.

Final Thoughts

Even though Google's success was built on its desire and ability to give each user better results, this big company is not free from the Crypto winter. On the other hand, Google believes that the recent cryptocurrency market decline is temporary because it sees promising long-term expansion prospects.

The company announced earlier this month that, beginning in 2023, users will be able to use Coinbase to make payments for Google Cloud Platform services using cryptocurrencies.

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About The Authors

Kelvin Farr

Kelvin Farr - Although I don't believe Bitcoin to be the future for sure, I do believe it has the potential to be. I only want to comprehend the nature of cryptocurrencies and how they operate rather than really owning any.

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