Bitcoin News Headlines

Bitcoin Drops Below $50,000 Amid Tax and Momentum Concerns - Yahoo Finance Australia

(Bloomberg) -- Bitcoin declined for the seventh time in eight days, extending losses after President Joe Biden was said to propose almost doubling the capital-gains tax for the wealthy.The slide pushed Bitcoin down as much as 5.8% to about $48,596 as it continued to lose momentum. JPMorgan Chase & Co. and Tallbacken Capital Advisors LLC had recently warned there was potential for further downside after the largest cryptocurrency fell back from its record high of $64,870 on April 14 and took out key technical levels.Bitcoin has slipped below the 50-day moving average support that it held sacrosanct through this rally, said Pankaj Balani, CEO of Delta Exchange. It looks like there is more downside here.Read more: Wall Street Starts to See Weakness Emerge in Bitcoin ChartsTax concerns may be weighing, too. U.S. investors in the digital asset, which has advanced more than 70% this year despite its recent pullback, already face a capital gains tax if they sell the cryptocurrency after holding it for more than a year. But the coins been one of the best-performing assets in recent years -- anyone who bought a year ago is sitting on a nearly 575% gain. For investors who bought in April 2019, its roughly 800%.One of the biggest things you have to worry about is that the things with the biggest gains are going to be most susceptible to selling, said Matt Maley, chief market strategist for Miller Tabak + Co. It doesnt mean people will dump wholesale, dump 100% of their positions, but you have some people who have huge money in this and, therefore, a big jump in the capital gains tax, theyll be leaving a lot of money on the table.The IRS has stepped up enforcement of tax collection on crypto sales. The agency -- which began asking crypto users to disclose transactions on their 2019 individual tax returns -- asks taxpayers whether they received, sold, sent, exchanged or otherwise acquired any financial interest in any digital currency.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.2021 Bloomberg L.P.
Published: Fri, 23 Apr 2021 3:47 am GMT

Bitcoin Breaks Below $50K as Market Sell-Off Continues - CoinDesk - CoinDesk

Bitcoin's price fell about $4,300 in the last 24 hours.
Published: Fri, 23 Apr 2021 3:03 am GMT

Bitcoin vs Gold Debate: Frank Giustra Says BTC Not the Answer to All Problems, Crypto Proponents Exhibit Cult Behavior Featured - Bitcoin News

The bitcoin vs. gold debate between gold financier Frank Giustra and the pro-bitcoin Microstrategy CEO Michael Saylor took place this week. In what viewers call an "epic" debate and a "historic" event, Saylor packed his arguments full of facts to convince Giustra to sell his gold and invest in bitcoin. Giustra, however, attacked how Saylor and the crypto community promote the cryptocurrency, calling it "cult behavior."
Published: Fri, 23 Apr 2021 2:42 am GMT

Bitcoin retreats to weekends flash crash lows amid tax anxiety - Economic Times

The slide pushed Bitcoin down as much as 8% to about $50,500, sending it below the low of $51,707 reached Sunday.
Published: Fri, 23 Apr 2021 1:53 am GMT

As bitcoin keeps booming, ignore blockchain at your peril - Sydney Morning Herald

The early hype around blockchain has died down amid investors exuberance around the price of bitcoin. But the technology will ultimately have a bigger impact on the world economy than cryptocurrencies, experts say.
Published: Fri, 23 Apr 2021 1:42 am GMT

Another US City Aims to Become Bitcoin Hub Exploring BTC Payroll, Mining, Holding Crypto in Balance Sheet News - Bitcoin News

Another U.S. city, besides Miami, is looking to become a bitcoin hub. The mayor of the city of Jackson TN says that his city is exploring payroll conversions in crypto in addition to bitcoin mining to add the cryptocurrency to its balance sheet.
Published: Fri, 23 Apr 2021 12:50 am GMT

Cardano, Chainlink, Filecoin Price Analysis: 22 April

The altcoin market has made a recovery from the downtrend witnessed over the weekend. Although the largest crypto, Bitcoin was still stumbling in a bearish market, altcoins have been rallying. Cardano [ADA], Chainlink [LINK], and Filecoin [FIL] have been reporting a tremendous recovery, even though the trends were changing in the market. Cardano [ADA] The […] Cardano chart suggested the value of the digital asset has been on the rise since December 2020. With brief periods of consolidation, ADA...
Published: Fri, 23 Apr 2021 12:01 am GMT

Ethereum, Dogecoin, XRP Price Analysis: 22 April

The altcoin market is striving for stability but only a few markets have been witnessing low volatility. The premier altcoin, Ethereum [ETH] has recovered from the weekend fall and has moved higher with low volatility, but Dogecoin [DOGE] and XRP markets have been witnessing a rise in volatility that could have a bearish impact. Ethereum […] The Ethereum chart above noting that after hitting the support at $2,0039 the price has recovered. At the time of writing, ETH was being...
Published: Thu, 22 Apr 2021 11:00 pm GMT

Can an adversary, one with $7 Billion dollars, take down bitcoin in 51% attack?

Understanding a 51% attack on Bitcoin is important to understand how secure the network is. The attack comprises a potential attack on a blockchain network, where a single entity or organization is able to control the majority of the hashrate, which could lead to network disruption. Mike Green and Anthony Pompliano have time and again […] Understanding a 51% attack on Bitcoin is important to understand how secure the network is. The attack comprises a potential attack on a blockchain network, where a single entity or organization is able to control the majority of the hashrate, which could lead to network disruption. Mike Green and Anthony Pompliano have time and again […]
Published: Thu, 22 Apr 2021 10:00 pm GMT

Bitcoin Price Decline Deepens, Heads for Worst Week Since February - CoinDesk - CoinDesk

Bitcoin prices were falling late Thursday, as analysts and technical chart patterns signaled a tepid outlook for the largest cryptocurrency.
Published: Thu, 22 Apr 2021 9:33 pm GMT

Bitcoin Price Decline Deepens, Heads for Worst Week Since February - Yahoo Finance

Just as technical charts suggested a weakening trend, with altcoins rallying, bitcoin slides toward $50,000.
Published: Thu, 22 Apr 2021 9:30 pm GMT

Craig Wright Can Serve Bitcoin.Org Over Publication of Bitcoin White Paper, UK Court Rules - CoinDesk - CoinDesk

The legal manis largely procedural and does not settle any questions around the origin of the Bitcoin white paper.
Published: Thu, 22 Apr 2021 9:22 pm GMT

Ripple co-founder: This change is critical for Bitcoin to remain dominant

Bitcoin has enjoyed a rally since this year, but this ascent has also renewed public attention on the environmental concerns surrounding the world’s most popular cryptocurrency. Bitcoin proponents argued that it was held to an unfair standard, arguing that the vast financial systems that build fiat currencies consume far more resources than cryptocurrencies do. Ripple […] Bitcoin has enjoyed a blistering rally since last fall, but that ascent has also renewed attention on environmental, social, and governance concerns surrounding the world’s most popular cryptocurrency. Bitcoin proponents argued that it was held to an unfair standard, arguing that the vast financial systems that undergird fiat currencies consume far more resources than cryptocurrencies do. But that has not stopped some governments to take action to rein in Bitcoin’s carbon footprint.
Published: Thu, 22 Apr 2021 9:00 pm GMT

Market Wrap: Bitcoin Price, Dominance Slips; Ether Hits Fresh Record High Over $2.6K - CoinDesk - CoinDesk

The price of bitcoin continues signs of a downtrend while ether hits a new zenith price level.
Published: Thu, 22 Apr 2021 8:35 pm GMT

Bitcoin, SUSHI, THETA Price Analysis: 22 April

A week after a serious wave of corrections dropped Bitcoin below the $60,000-mark from an ATH, the world’s largest cryptocurrency was yet to recover its position. Understandably, this had a corresponding effect on many of the market’s altcoins, including THETA and SUSHI. Bitcoin [BTC] 2021 has seen Bitcoin, the world’s largest cryptocurrency, register one ATH […] 2021 has seen Bitcoin, the world's largest cryptocurrency, register one ATH after the other on the price charts. However, it hasn't been...
Published: Thu, 22 Apr 2021 8:00 pm GMT

Dominance of Ethereum, XRP, and DOGECOIN has increased; here's what this means

As Bitcoin’s price was on the down-low, BTC dominance has also been slipping to a historic level. As per data, Bitcoin dominance has broken its long-term support and reached levels last seen in 2018. The above CoinMarketCap chart suggested that Bitcoin dominance was growing since July 2018. The dominance hit 50% a year later in […] Ethereum [ETH] has been witnessing a growth period in the market, although Bitcoin was still recovering. The altcoin's price has escalated...
Published: Thu, 22 Apr 2021 7:30 pm GMT

Here's everything you need to know about XRP's chances of hitting $3

XRP’s price hit a high of $1.91 on 14 April 2021 and the altcoin is now rallying towards $3. During the 2017 bull run, the price hit $3.14. At the current pace, the price is rallying versus the dropping trade volume and resisting the selling pressure. The perfect inverse correlation that has emerged suggested that […] XRP's price hit a high of $1.91 on April 14, 2021 and the altcoin is now rallying towards the $3. During the 2017 bull run the price hit
Published: Thu, 22 Apr 2021 7:00 pm GMT

Your primer on bitcoin, ethereum, and other most common cryptocurrencies - WRAL Tech Wire

In a week with wild price fluctuations in some cryptocurrencies, the IPO for cryptocurrency exchange Coinbase, and talk of "Britcoin" and other national cryptocurrencies, here's an expl
Published: Thu, 22 Apr 2021 6:15 pm GMT

Cardano Price Analysis: 22 April

The Cardano project has been working to become more independent and fundamentally strong. This growth can be traced to the escalating value of the altcoin since the beginning of the year. ADA has reported a growth of 600% in 2021, as it began the year at $0.1682 and has surged to $1.1841 in April. At […] The Cardano project has been working to become more independent and fundamentally strong. This growth can be traced to the escalating...
Published: Thu, 22 Apr 2021 6:00 pm GMT

Despite Price Drop, Bitcoins Fundamental Narrative Has Not Changed, Stack Funds Says - Yahoo Finance

BTC drawdowns have occurred every month since the start of this year but most ended with sharp recoveries, achieving newer highs in the following month.
Published: Thu, 22 Apr 2021 5:32 pm GMT