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Do you think Biden's insistence to tax crypto traders will affect BTC, ETH and other coins value??

  • Thread starter Thread starter Sincerem
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I really don't see any issue with taxing crypto traders but the problem is the percentage of such taxes. It would be unfair if the larger portion of traders' profits are taken as taxes.
 
Shigobad2020 said:
The insistence of Joe Biden to put a tax on crypto traders have already been affecting crypto currency like bitcoin and ethereum, imaging bitcoin falling drastically to $48,000 during this few month says it all.
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It have risen back it only fell to that amount for a short while ,but it moved back in a short period of time ,so i think the price of bitcoin would continue to increase despite those policies
 
Ehizzy1 said:
During that period the news affected the price of bitcoin. Before the price of bitcoin start regaining value it took a very long time and it was a very big surprise to me
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Yes, the news affected all coins, more on Bitcoin because all eyes on.it. it dropped down nearly to 20% after the decision was made around traders.
 
GIFTMICHAEL said:
Yes, the news affected all coins, more on Bitcoin because all eyes on.it. it dropped down nearly to 20% after the decision was made around traders.
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And during that period a lot of traders were on loss instead of making profit it wasn't a very easy thing to continue to see loss accumulate on a higher note ,i had to withdraw fast
 
Ehizzy1 said:
And during that period a lot of traders were on loss instead of making profit it wasn't a very easy thing to continue to see loss accumulate on a higher note ,i had to withdraw fast
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Lol, i alaso reverted my coins back to stable coin. It stayed there until after week when things started going well around the coins just on Monday i decided to convert it back to LTC coin.
 
GIFTMICHAEL said:
Lol, i alaso reverted my coins back to stable coin. It stayed there until after week when things started going well around the coins just on Monday i decided to convert it back to LTC coin.
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I think you did well because in 8 days we all experienced a drastic fall in the price of bitcoin ,my orayer is that such thing should not occur again ,because i never expected it
 
Any commodity in the market that will be taxed will surely affect the price. With the crypto currency that we have now the tax may be minimal but definitely it will have a drawback in the future valuation. What is worrisome with the government is when it plans to control the trading of the crypto currency to be similar to the stock market. That will revolutionize the system.
 
Ehizzy1 said:
I think you did well because in 8 days we all experienced a drastic fall in the price of bitcoin ,my orayer is that such thing should not occur again ,because i never expected it
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Sometimes the bearish run makes others who are waiting patiently to invest and wat it grow back. But it cost lots of people losing their treasury asset, so I'll say its not accepted by many.
 
Immediately he announce the plan of placing 40 % tax on every cryptocurrency transaction, the statement alone has affected the whole cryptosystem because there was a serious drop in the price of cryptocurrency, this is completely unrealistic as there is no possibility of we paying 40% on every transaction we do.
 
Shigobad2020 said:
The insistence of Joe Biden to put a tax on crypto traders have already been affecting crypto currency like bitcoin and ethereum, imaging bitcoin falling drastically to $48,000 during this few month says it all.
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Check at coinmarketcap.com Bitcoin have picked from where it stopped last time based on the last two weeks decision made by Joe Biden. It is now valued around $56k+.
 
GIFTMICHAEL said:
Sometimes the bearish run makes others who are waiting patiently to invest and wat it grow back. But it cost lots of people losing their treasury asset, so I'll say its not accepted by many.
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The bearish run is an opportunity for traders to buy then hold ,so that when the price increases. The trader would make a very huge profit holding the coin
 
President Bidden trying to put a tariff on crypto currency will make a lot of persons want to sell their coin and in another, make investors hold coin longer.
 
Ehizzy1 said:
The bearish run is an opportunity for traders to buy then hold ,so that when the price increases. The trader would make a very huge profit holding the coin
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Sire, and its the best time to buy and holdl the coins. Those who took advantage of this bearish run that occurred two weeks ago are the ones gaining immensely at the moment.
 
Yes it will definitely,but the positive aspect is much more greater and beneficial than the negative aspect
 
Sincerem said:
News bursting this morning 23/04/21, on the radio stations, television channels, and the world wide web etc. Said, Joe Biden's administration wants to put a law that demands every crypto trader in the united state, paying tax for their involvement in crypto investment. It is viewed as a means of generating more revenue income to the U.S government, since Cryptocurrency investment is on the massive growth. Do you think taxing every trader will halt the progress around Cryptocurrency?? Already the negative effect is taking place, all the coins are on the massive drop after the announcement.
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I don't think this could affect in anyway,but the only way to regulate that law,is to get the task from the platform where trading of crypto currency are been done I guess.
 
FreshKaz11 said:
I don't think this could affect in anyway,but the only way to regulate that law,is to get the tax from the platform where trading of crypto currency are been done I guess.
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I also think that way, they shouldn't charge individuals directly, they should charge the broker they're using to trade. I believe that's the answer.
 
Justin said:
I don't know whether this will affect crypto currency value or not but I believe of crypto trading is brought under the tax frame, it will send positive vibes in the market. It will instill trust in the currency trading.
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Currently it has not affected the prices of cryptocurency in the global market,It will even give some credence to the virtual curency and the trust on the curency trading will increase.
 
Yes, such decision wasn't impose into law, i believe before it got to the final conclusive part it got scrapped. The Senate or judiciary arm of the government struck it off.
 
I remember vividly that when Biden made the news of possible taxation on cryptocurrency , there was a bearish trend in the cryptocurrency world , I think the bill was not passed afterwards
 
Yeah this law have a positive and a negative aggect but at the moment it has already especially bitcoin's price has dramatically go down.And that is the reason I think Bitcoin will go down to zero
 
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