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

[ahmedo24]

It will definitely have effect in the Crypto currency market and bitcoin especially because Americans are more involved in Cryptocurrencies so whatever their government is toward cryptocurrencies it will have effect and this Biden tax reform have negative impact.

 

[Sincerem]

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

Yes, it wasn't passed on. If not, by now we would've heard about the saga and the mixed reactions going on. Cos traders wouldn't have been happy paying such high taxation fees.

 

[ahmedo24]

I discovered most times government policies are relaxed during bearish moment in cryptocurrency but immediately it bull run polices begin to fly.

 

[Sincerem]

I discovered most times government policies are relaxed during bearish moment in cryptocurrency but immediately it bull run polices begin to fly.

Laughs, that's somewhat true dear. Government jump when things are going right around crypto, but when it isn't going well they quickly relax any mixed decision they have for it.

 

[Fizzy_boi]

Yeah it's is definitely happening seeing the effects of things in the market right ñow you should conclude it is . Crypto currencies is going to stay so it's definitely.

 

[Sincerem]

Yeah it's is definitely happening seeing the effects of things in the market right ñow you should conclude it is . Crypto currencies is going to stay so it's definitely.

Already it is staying no matter what goes around it. Their have been too many lows, but the positive shows that the digital currencies are set to stay.

 

[Sotherefore]

it will affect the cryptosystem seriously because if you can remember when he considered that there will be tax payment for crypto traders and investors there was a serious drop in the price of all coins especially bitcoins, if the station is consider it will definitely affects cryptocurrency.

 

[Josemendez]

Yes, it wasn't passed on. If not, by now we would've heard about the saga and the mixed reactions going on. Cos traders wouldn't have been happy paying such high taxation fees.

I was left to wonder as to why the cryptocurrency market is easily affected by laws ,tweets and the like. It baffles me to see people giving in to Elon Musk tweets

 

[Sincerem]

I was left to wonder as to why the cryptocurrency market is easily affected by laws ,tweets and the like. It baffles me to see people giving in to Elon Musk tweets

That's simply to put fear, tension on the traders when the creators or the whales want to see the market fall down, so they'll invest in money again to drive major profit.

 

[Josemendez]

That's simply to put fear, tension on the traders when the creators or the whales want to see the market fall down, so they'll invest in money again to drive major profit.

It is small investors that suffer much from this act. They watch their fund dip further and they may even end up giving in to FUD and selling below the price at which they bought

 

[Sincerem]

It is small investors that suffer much from this act. They watch their fund dip further and they may even end up giving in to FUD and selling below the price at which they bought

Since they invested their hard earned funds to see it appreciate so they'll make ends meet. Rather, the opposite occurs and making the price of their coins to dip. That will panic them much to making them quit.

 

[Alexandoy]

When the crypto industry is taxed there will definitely be an effect because the transaction fees will be affected. Crypto platform will pass the tax to the users and that may cause a bane in the industry although that would be temporary just like a hype that would die down in a week or so.

 

[Nomad]

When crypto trading was taxed by the President of the United States, the crypto market went down but it did not g too down as it recovered. However, the current market crash is due to other reasons.

 

[Jlife]

I just believe it is going to affect the price of all cryptocurrency negatively because a lot of people will withdraw their self from cryptocurrency because it is not easy for you to pay 40% tax, I think the payment of 40% tax should be reconsidered.

 

[Richard92]

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

Every policy of the government affect business transaction in the country either positively or negatively and joe bedein policy is not an exception of this fact.

 

[Ralphjoe]

The decision surely will have positive and negative impact, but I guess the positive aspect of it will supercede the negative side of it cause cryptocurrency is the new currency which money can be made massively with the use of technology.

The decision of the US government to tax and regulate cryptocurrency is actually affecting the price of cryptocurrency like Bitcoin and the rest of them right now.

 

[Chibson]

I don't know if the tax regulation is really affecting the price of cryptocurrencies now but I think cryptocurrency in general cannot be regulated because it is highly decentralized.

 

[Sincerem]

When crypto trading was taxed by the President of the United States, the crypto market went down but it did not g too down as it recovered. However, the current market crash is due to other reasons.

I don't even think the Joe Biden administration went ahead with such decision to tax traders. They've seen the negative impact of the high charges, they decided to relax it.

 

[Nomad]

well, tax was actually imposed by Joe Biden administration. Previous president calls bitcon fraud, but the current president at least recognizes it and tries to regulate it with taxation.

 

[Sotherefore]

It is going to affect the price of all cryptocurrencies seriously because no one will like to pay 30% interest on any coin,it is not easy for people to trade cryptocurrency and at the end they will come and pay 30% interest tax during withdrawal.