Get daily crypto briefings and weekly Bitcoin market reports delivered right to your inbox. Key Takeaways Bitcoin and Ethereum are holding above crucial support levels. Both assets could face significant losses if they lose these key interest areas. BTC could dive to $58,000 and ETH toward $3,700. This Exchange News was brought to you by OKCoin, our preferred Exchange Partner.
Bitcoin–and the cryptocurrency industry as a whole–plunged this year, after a gravity-defying surge in recent years. The price of the digital coin hit nearly $20,000 late last year. And then in early 2018, it began to fall. Though it hit a few plateaus, the price has still tumbled; today it hovers at a little over $3,000.
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Binance.US will launch in partnership with a firm called BAM Trading Services, which was generally unknown until the announcement of the partnership and faceless until the appointment of former Ripple exec Catherine Coley as CEO, in July.
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A lot right now in the U.S. Congress. One way lawmakers propose to pay for the $1 trillion infrastructure bill the Senate approved Tuesday is by imposing tax-reporting requirements for cryptocurrency brokers, the way stockbrokers report their customers’ sales to the IRS.
The program offers the following benefits and is limited to personal account owners on the platform:
Mining. The process of applying high amounts of computing power to solve complex equations that verify transactions in a virtual currency. Miners who solve the equations are awarded new units of the virtual currency.
SafeMoon is also preparing to launch a cryptocurrency exchange, which apparently is not tied to V2.
“Expect very high volatility in crypto over the next few months,” he tweeted on Oct. 21.
Income tax: Profits and losses from cryptocurrency transactions must be shown in a non-incorporated business’s accounts and are taxable/allowable under conventional income tax laws.
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4JNET’s team are big proponents of the HODL theme that is often echoed through the cryptocurrency market. History has proven that there is no better way to make the most returns than holding digital assets for number of years. Thus, 4JNET is designed with this proven theory in mind.
Data Availability: All data are available from figshare: https://figshare.com/articles/Wavelet_coherence_cryptocurrency_online_indicator_data_set/5765352.
“It’s easy to get carried away, but such aggressive growth is highly unlikely to continue forever.”