Some advertisers using Google Adwords to promote cryptocurrency related businesses views deopand other users posting suspension of both their ads and accounts.
(ICO) marketing company, the views of its advertisements through Adwords have dropped by the thousands. Below is a table from Finance Magnates showing views of the company’s advertisements over a 24 hour period.
In a way, I kind of expected this. Especially since Facebook started doing something similar with ICOs. I'm sure businesses will still be able to use Google Adwords through loopholes and different keywords.
It seems your analysis is absolutely right.