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

[Chibson]

of course such laws usually affects the prices of cryptocurrency identity value or positively but this particular one may affect it negatively. But of course crypto will continue to grow.

 

[Setho]

I think that it is a decision that would affect the price of assets true but I think it would just be short while before every thing is going back to normal again.

 

[Jlife]

This news is all over both in the social medias and on the web. I'm just feing perplexed to see this coins losing value cos of this decision made by Joe Biden.

Now all cryptocurrency now have currently lost their value and most of the coins are decreased by almost 50% of their original value now, do you think it is because of Biden tax on cryptocurrency ?

 

[GIFTMICHAEL]

Now all cryptocurrency now have currently lost their value and most of the coins are decreased by almost 50% of their original value now, do you think it is because of Biden tax on cryptocurrency ?

Nope, its no longer Biden's tax pronouncement. This is the fact of Chinese mainly banning Cryptocurrency in their country. They have most of the mining rigs, that's why the ban affected all Cryptocurrencies negatively.

 

[Jlife]

Nope, its no longer Biden's tax pronouncement. This is the fact of Chinese mainly banning Cryptocurrency in their country. They have most of the mining rigs, that's why the ban affected all Cryptocurrencies negatively.

But my mining of cryptocurrency should not affect cryptocurrency because it will even make all crypto currency to increase in value since they have purposely decided to stop producing more cryptocurrency into the market.

 

[GIFTMICHAEL]

But my mining of cryptocurrency should not affect cryptocurrency because it will even make all crypto currency to increase in value since they have purposely decided to stop producing more cryptocurrency into the market.

It won't, since the circulation volume is reduced, those who are controlling big part of the Cryptocurrency won't like to flip, they'll be scarcity since their is no mined coins in the market. It ought to make those holding it to sell expensive, but other unforseen circumstances is making the price dip since it is created by anonymous individuals.

 

[Jlife]

It won't, since the circulation volume is reduced, those who are controlling big part of the Cryptocurrency won't like to flip, they'll be scarcity since their is no mined coins in the market. It ought to make those holding it to sell expensive, but other unforseen circumstances is making the price dip since it is created by anonymous individuals.

That means it will take a very long time for us to recover from this depreciation of cryptocurrency, if Chinese control most part of the cryptocurrency then how are we going to do to recover from this ,do you think it will ever be possible ?

 

[GIFTMICHAEL]

That means it will take a very long time for us to recover from this depreciation of cryptocurrency, if Chinese control most part of the cryptocurrency then how are we going to do to recover from this ,do you think it will ever be possible ?

It will recover, but that's matter of time. If more countries will adopt it the more, that will surely cover up the crack down which the Chinese government caused the entirely Cryptocurrency ecosystem.

 

[Fizzy_boi]

Actually it's a definately clause and it as already start affecting them right now he already placed the tax already on crypto currencies traders and it's definitely affecting them right now.

 

[Jlife]

It will recover, but that's matter of time. If more countries will adopt it the more, that will surely cover up the crack down which the Chinese government caused the entirely Cryptocurrency ecosystem.

According to history that are shared by most of my cryptocurrency expert, they said this is not the first time this thing is happening ,that such thing has happened before around the pandemic period in which the price of cryptocurrency reduced from 21 thousand dollars to 8000 dollars and so on.

 

[kayode10]

There would always be an increase in charges as time goes on due to the policy made by Joe Biden. there will also be an extra charges when you are using this platform for trading the cryptocurrency. And this is going to eat a little bit part of your profit.

 

[GIFTMICHAEL]

According to history that are shared by most of my cryptocurrency expert, they said this is not the first time this thing is happening ,that such thing has happened before around the pandemic period in which the price of cryptocurrency reduced from 21 thousand dollars to 8000 dollars and so on.

That's it, they are simply right. It happened early last year from March 2020 and onwards. It spent over eight months before the price moved from $8,000 to $20,000 and $30,000 overall in 2020 ending.

 

[Jlife]

That's it, they are simply right. It happened early last year from March 2020 and onwards. It spent over eight months before the price moved from $8,000 to $20,000 and $30,000 overall in 2020 ending.

Ever since they said this, I concluded in my mind that there is still hope that no matter how the prices drop we all should not panic that it will surely rise back, do you also trade or invest in cryptocurrency ? Because I am an investor.

 

[GIFTMICHAEL]

Ever since they said this, I concluded in my mind that there is still hope that no matter how the prices drop we all should not panic that it will surely rise back, do you also trade or invest in cryptocurrency ? Because I am an investor.

At the meantime, I'm more of an investor than trader. I buy to holdl long term hoping the prices meet up my expectations of reaching top level in price.

 

[Jlife]

At the meantime, I'm more of an investor than trader. I buy to holdl long term hoping the prices meet up my expectations of reaching top level in price.

If you are a cryptocurrency investor then you should only expect to make a reasonable profit if you're holding your cryptocurrency for more than 5 years, people who are holding their bitcoin since 2013 have make a lot now.

 

[Nurudeen]

The US and Chinese government are really trying hard to ensure they downgrade crypto currency exchange Business just for them to save their Fiat currency. It's just a crackdown for people to stay off Bitcoin and other altcoin

 

[GIFTMICHAEL]

If you are a cryptocurrency investor then you should only expect to make a reasonable profit if you're holding your cryptocurrency for more than 5 years, people who are holding their bitcoin since 2013 have make a lot now.

If some one still hold BTC up to this moment from 2013 their is nothing stopping such person attending millionaire status with BTC now.

 

[Jlife]

If some one still hold BTC up to this moment from 2013 their is nothing stopping such person attending millionaire status with BTC now.

That one is even small, those people who invested $100 in 2009 when the price of bitcoins was almost nothing will worth upto 200 million US Dollars by now, just do the calculation.

 

[GIFTMICHAEL]

That one is even small, those people who invested $100 in 2009 when the price of bitcoins was almost nothing will worth upto 200 million US Dollars by now, just do the calculation.

You're calculation is simply right bro. Hmm, that's a huge amount of money to be achieved saving of the coin long time in the wallet.

 

[Jlife]

You're calculation is simply right bro. Hmm, that's a huge amount of money to be achieved saving of the coin long time in the wallet.

Some people who actually invested for that period of time are the real nigggas, me that have just invested for 3 months is even thinking of giving up because it's not bringing out a quick profit, lolz.