Major cryptocurrency media site CCN shut down its operations on June 10th, citing that the reason for the decision is none other but Google‘s June 2019 Core Update.
According to press, searches the traffic of CCN from Google searches specifically dropped by more than 70% for one day, which is a huge decrease.
While the site stated in their own post that searches have not been very high, the Update has caused such a dramatic drop in traffic levels that the site can no longer continue operations, especially after hiring several people to their team. As their revenue is generated from online advertisements, the company suffered a massive loss in revenue.
In a blog post by the founder of CCN, Mr. Jonas Borchgrevink, the new Google update has also affected several “non-crypto” websites such as The Daily Mail, which also experienced a visibility drop.
This seems to contradict the long-time rumour that Google is “after” cryptocurrencies and crypto websites. While it is true that crypto websites are the ones that experienced the highest drops in visibility, other non-crypto ones such as mercola.com and the Daily Mail have also suffered from the core update.
The blog post of CCN states the following:
We have tried to find out why our stories are no longer visible on Google by asking for guidance in Google’s Webmasters Forum. While we appreciate the help of the experts from the Google Forum, their theories for why Google has decided to basically “shut down” CCN does not appear to be entirely accurate.
Why would simple fixes be the cause of the immense Google-listing drop, when other similar sites are experiencing the same blowback?
What CCN now plans to do, according to the company’s post, is: …”calling media organizations across the world to fight this hideous practice by Google, that basically can, with a snap of its fingers, decide who will thrive and who will die within a matter of minutes.
While it is not clear what exactly Google did with the Core Update, it is clear that several major crypto and non-crypto websites have suffered huge losses in advertisement revenue and visibility.