Bitcoin decline deepens to $48,000

 Biden's capital gains proposal also weighed on the price of Bitcoin (BTC-USD), which fell on Thursday for the sixth time in seven sessions. The slide pushed the crypto down as much as 8% to about $50,500, and it fell to the $48,000 level overnight. U.S. investors already face a capital gains tax if they sell the cryptocurrency after holding it for more than a year, and the fast action in alt-coin names like Dogecoin (DOGE-USD), Litecoin (LTC-USD), ZCash (ZEC-USD) - and plenty of others - is drawing comparisons to the late-2017 blow-off top in all cryptocurrencies.


Coins

Stats: Yesterday was the first time since 2018 that Bitcoin accounted for less than 50% of total crypto market cap.


Bitcoin futures volumes have soared in recent months, becoming a crucial part of the market that can intensify price swings in the underlying cryptocurrency itself. The quick drop earlier this week reportedly followed a large liquidation in futures contracts, highlighting some of the biggest growing pains for the crypto market.

About Binnabook

Binnabook Magazine Believes in Free Speech,Social Journalism with newsgathering and verification of Data.

0 Comments:

Post a Comment

Your Views are needed.Thanks!

U.S Helicopter Crashes In Hudson River, Killing All 6 Aboard

  Helicopter crashed in the 🇺🇸 Hudson River  All six passengers died after a helicopter crashed in the 🇺🇸 Hudson River near Jersey City ...

TRENDING News Feed