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A loophole in the U.S. tax law could allow qualified bitcoin traders to write off unlimited losses from their trading activities, according to an expert from crypto tax platform Coin Tracker.Traders, defined by U.S tax collection agency Internal Revenue Service (IRS) as people who trade substantially, regularly and continuously,
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The Nasdaq, an index which primarily represents tech stocks like Amazon, Microsoft, and Alphabet, has surpassed 10,000 points to hit a new record high. The move above 10,000 effectively erased all the losses suffered from the coronavirus pandemic, yet, the price of Bitcoin (BTC) remains 50% down from its record
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Bitcoin closed above $8,000 this Wednesday, wiping all its Coronavirus-induced losses from mid-March.The cryptocurrency’s move uphill came ahead of Jerome Powell’s press conference at 1430 ET today.The Federal Reserve chairman is likely to discuss strategies to tame the contracting economy, with investors expecting him to keep the interest rates lower.Bitcoin
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Ripple is currently correcting higher from the $0.1780 support zone against the US Dollar. However, XRP price is likely to face another rejection near $0.1880 or $0.1900.Ripple price is trading in a negative zone below the $0.1880 resistance level against the US dollar.The bulls are likely to face a strong
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While global unemployment continues hitting new highs amid the coronavirus pandemic, the cryptocurrency industry is stepping in to shelter job losses, with some of the biggest companies in the space announcing their intention to hire new employees.Binance, the world’s largest cryptocurrency exchange, has just announced that it is seeking
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The aftermath of Bitcoin’s recent selloff that sent it reeling down to lows of $8,400 hasn’t been as bullish as investors may have hoped for, as the cryptocurrency has found itself caught within multiple bouts of sideways trading while struggling to gain any decisive momentum. As Bitcoin now hovers within the
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A massive recovery in the Dow Jones late on Friday helped lift the index to just a 350-point loss. A huge spike in trading volumes suggests a short covering lifted the U.S. stock market of an uncertain weekend. Trump is believed to be weighing tax cuts as part of
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The altcoin market is bleeding red and Bitcoin SV (BSV) is its most injured pawn.The fifth-largest cryptocurrency on Monday slipped by circa 10 percent to establish a new intraday low at $256.66. The move downhill came as a part of a larger bearish correction that started last week when BSV
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Ripple blockchain’s native asset XRP showed signs of a weakening bullish momentum as traders’ reassessed their risks in the altcoin market.The third-largest cryptocurrency by market capitalization plunged by 4.24 percent on Tuesday. The losses came as a correction to an explosive price rally registered earlier this week, wherein the XRP-to-dollar
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Bitcoin closed 2019’s final fiscal quarter in losses.The benchmark cryptocurrency is down by circa 21.5 percent on a quarter-to-date basis. The move downhill has extended its half-yearly losses to 33.35 percent.Bitcoin in a deep downtrend since July 2019 | Source: TradingView.comNevertheless, exponential gains during the first two quarters have kept
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