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[highspeed]

Recently Bitcoin slides below $ 50,000, a few days after the record close to $ 65,000. Unfortunately, this is bad news for investors on that cryptocurrency!
But probably, the main cause is the hypothesis of a drastic increase in taxes on capital gains on high incomes, issued by Joe Biden, newly elected President of the United States of America.

 

[Niftyicon]

Yeah! There are a lot of speculations about this being the reason but I also think we are seeing whales' manipulations in action. Joe Biden's proposal sure has something to do with it but I don't see it as the only reason.

 

[highspeed]

Despite the Biden administration imposing a 43% tax on capital gains for those earning more than $ 1 million a year, many continue to invest in Bitcoin.

 

[Fayiz]

I think most of the country Will introduce regulation in crypto currencies.Not only America Now Spain government also saying crypto is taxable property.They warned crypto holders want to pay tax .later more countries will follow this

 

[aryan4]

With these news and rumors, bitcoin fell significantly. Maybe 50 thousand and a little below them a new range of motion can be formed. Despite everything, I think the upward momentum will continue in the long run.

 

[Josemendez]

This is what we learnt and sadly , we are suffering from this heavy and urgent decision by the president Biden administration.

 

[Wisdom01]

I think it was moving and going down little by little ,there are still many speculations to the cause of it,but we are still unsure about the exact reason for the huge fall

 

[Josemendez]

I think it was moving and going down little by little ,there are still many speculations to the cause of it,but we are still unsure about the exact reason for the huge fall

Sadly , I read yesterday that Tesla sold $200 Million worth of bitcoin and this indeed is not good news in this trial time that the price of bitcoin is fluctuating

 

[achawaskey]

This is the kind of adjustment the investors has to make in order for them to remain in business, I believed the taxes is not fixed and it varies from crypto to another crypto.

 

[Josemendez]

This is the kind of adjustment the investors has to make in order for them to remain in business, I believed the taxes is not fixed and it varies from crypto to another crypto.

It is on the current mode of cryptocurrency that we have seen up to 4% taxation on cryptocurrency. This indeed makes selling for profit difficult.

 

[magnus2022]

I totally disagree with you. Biden's policy may have negative effect partially but have limited control over cryptocurrency. Bitcoin is a universal currency and can't be easily regulated by United States govt. Bitcoin like any other cryptocurrency is highly volatile. Due absence of institutional control, investors use to induce inflation through pump and dump strategies.

 

[Wisdom01]

I totally disagree with you. Biden's policy may have negative effect partially but have limited control over cryptocurrency. Bitcoin is a universal currency and can't be easily regulated by United States govt. Bitcoin like any other cryptocurrency is highly volatile. Due absence of institutional control, investors use to induce inflation through pump and dump strategies.

I think biden policy is actually more concerned to the flat currencies , because it's the flat currency that are been affected most ,the only reason it could affect Bitcoin is because people usually use the flat currency to buy Bitcoin ,so any time he create a wrong policy it could affect Bitcoin a lot

 

[SpenserReed]

But probably, the main cause is the hypothesis of a drastic increase in taxes on capital gains on high incomes, issued by Joe Biden, newly elected President of the United States of America.

Now we can tell it's Biden's policy + high inflation...

 

[BullyMaguire]

I think this year's decline will be much worst than last year and am getting a bit worried because of waht happened to luna. Just shows that it can happen doesn't matter how high your price is.. it can look like a rugpull all of a sudden. I wish the bull season comes soon

 

[vivid shadow X]

I think this year's decline will be much worst than last year and am getting a bit worried because of waht happened to luna. Just shows that it can happen doesn't matter how high your price is.. it can look like a rugpull all of a sudden. I wish the bull season comes soon

I wish the bull season come back quickly as well but as things look maybe we should expect recoveries maybe at the start of the 3rd quarter because the 1st and and 2nd have been relentless on a bear run.The tightening monetary policies around bitcoin in USA probably a cause for this.I wish they lighten these policies.Probably bitcoin is going below $20k in this second quarter that what I am seeing.

 

[Ben Kempton]

I think biden policy is actually more concerned to the flat currencies , because it's the flat currency that are been affected most ,the only reason it could affect Bitcoin is because people usually use the flat currency to buy Bitcoin ,so any time he create a wrong policy it could affect Bitcoin a lot

Yes, people usually use fiat currencies to buy Bitcoin and when taxes are imposed on instruments and transactions, as many instruments are used by the people to buy cryptocurrencies and they might limit themselves when it comes to investing or buying Bitcoin. Capital taxes are imposed on assets and people who have declared their assets are charged the tax. I am not sure how they will tax cryptocurrency holders, though.

 

[Wisdom01]

Yes, people usually use fiat currencies to buy Bitcoin and when taxes are imposed on instruments and transactions, as many instruments are used by the people to buy cryptocurrencies and they might limit themselves when it comes to investing or buying Bitcoin. Capital taxes are imposed on assets and people who have declared their assets are charged the tax. I am not sure how they will tax cryptocurrency holders, though.

they will tax cryptocurrency holders through exchange platform ,that's why they want almost all exchange platform to get regulated ,so that it would be easy for them to regulate the exchange platform and it would be much better

 

[Wisdom01]

Yes, people usually use fiat currencies to buy Bitcoin and when taxes are imposed on instruments and transactions, as many instruments are used by the people to buy cryptocurrencies and they might limit themselves when it comes to investing or buying Bitcoin. Capital taxes are imposed on assets and people who have declared their assets are charged the tax. I am not sure how they will tax cryptocurrency holders, though.

.they will tax cryptocurrency holders through exchange platform ,that's why they want almost all exchange platform to get regulated ,so that it would be easy for them to regulate the exchange platform and it would be much better for them to gain more revenue through taxation of the asset

 

[vivid shadow X]

.they will tax cryptocurrency holders through exchange platform ,that's why they want almost all exchange platform to get regulated ,so that it would be easy for them to regulate the exchange platform and it would be much better for them to gain more revenue through taxation of the asset

I know of some e-wallet platform that can exchange that can exchange your crypto to fiat without being taxed and thats a loophole that some crypto holders will use to escape taxes.All you have to do is being registered on that e-wallet,you go to an option to deposit using crypto and they give a crypto adress,you send the amount you want and the amount is immediately credited into your e wallet account ready to be wired to your bank.Can't mention the e-wallets here because its not allowed

 

[Qwertu100]

One of the reason they are looking to tax people more ; is that ; there own economy is in decline and they are in taters , the reserves have fallen due to inflation and costs have spiked up , they are not able to control anything , general life items including life saving drugs have become 30% expensive and all that is result of an failed biden administration