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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.

 

[Wisdom01]

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

I know of plenty of wallet like that ,but once the government want to introduce taxation ,they would ask all those wallet to get license instead they would be tagged illegal and face sanction ,in some countries it's compulsory a wallet platform is registered by a regulator in a country before operating

 

[fiery phoenix]

I know of plenty of wallet like that ,but once the government want to introduce taxation ,they would ask all those wallet to get license instead they would be tagged illegal and face sanction ,in some countries it's compulsory a wallet platform is registered by a regulator in a country before operating

You are right,but I think governments have more bigger issues to attend to than to look for all tax loopholes and close them.Even if they try to close all of them,they will always be some left open and people will always search until they find other loopholes.I know there are a few people that know and use e wallets but they will always remains some threat to the taxes

 

[Wisdom01]

You are right,but I think governments have more bigger issues to attend to than to look for all tax loopholes and close them.Even if they try to close all of them,they will always be some left open and people will always search until they find other loopholes.I know there are a few people that know and use e wallets but they will always remains some threat to the taxes

when it comes to money ,I think the government would really face it accordingly ,they dont mind the bigger issues been faced ,they would be more interested in getting more revenue ,and they see that it's very possible with cryptocurrency existence and that's actually noticeable