BIDEN’S TAX PLAN PROMPTS CRYPTO SELL-OFF, FORCING BITCOIN BELOW $50K SUPPORT LINE


24/04/2021




Aslıhan DOĞRU -TDO- President Joe Biden's project to increase taxation on capital gains is projected to limit investment in digital assets.

With this project, bitcoin and similar cryptocurrencies suffered heavy losses.

Bitcoin, the most sought-after cryptocurrency worldwide, fell 5% in the last 24 hours, below the $50,000 limit for the first time since the beginning of last March.

Ethereum, the second-largest cryptocurrency, fell 5.7% to $2,277 in the last 24 hours.

Biden's tax plan says his project to nearly double taxes on capital gains and pay 39.6% tax on people earning more than $1 million affects multivariate cryptocurrency markets.


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