Bitcoin Holders Face Uncertainty Over Tax Returns
This financial year is the first in which many bitcoin users will consider putting their cryptocurrency gains on their tax returns. When a bitcoin was worth $5 or less, most people didn't make enough money on them to worry about taxes. But 2013's price run-up pushed plenty of bitcoiners into a category where unreported gains could attract attention - and possible sanctions - from the US Internal Revenue Service and other tax authorities. Some will quietly pocket those earnings, tax free, hoping that bitcoin's anonymity will keep the government bean counters from their doorstep. But others....
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A newly released study on the relationship between bitcoin and global uncertainty finds that bitcoin acts positively to uncertainty. Analyzing a lengthy period from the 17th of March, 2011, to the 7th of October, 2016 by using the VIX index, a widely used key market risk indicator that reflects market sentiment and investor expectation of 14 countries, Brazil, Canada, China, France, Germany, India, Japan, Mexico, Russia, South Africa, Sweden, Switzerland, the UK and the US, the study concludes: “Bitcoin is shown to serve as a hedge against uncertainty at the extreme ends of the Bitcoin....
Bitcoin is trading at a critical juncture after several days of consolidation, ranging between $83,000 and $86,000. Despite brief attempts to break out, the price continues to stall, with neither bulls nor bears able to take full control. This indecision reflects the broader uncertainty gripping global financial markets as macroeconomic tensions, including the ongoing trade […]
Taxpayers in Brazil have only a couple of days left to file their annual tax returns. Investors who had more than 5,000 reals worth of cryptocurrency in 2020, a little less than $1,000, are obliged to report the funds on their income tax declarations this year. Brazilians who fail to do that on time face hefty fines. Deadline for Tax Filing in Brazil Expires Midnight May 31 Brazilian citizens are required to file their 2021 income tax returns before June 1. This year, the deadline was extended by a month due to the coronavirus pandemic which took a heavy toll on South America’s....
XRP is now trading at $0.55, following weeks of speculation and excitement from investors who expected a sharp price rise. However, fear and uncertainty drive the market, with Bitcoin and most altcoins trading at lower levels. This downturn has impacted investor sentiment across the board. Related Reading: XRP Remains Strong Despite Market Pullback: Analyst Forecasts $500 By 2025 Crucial data from Santiment shows a noticeable change in the outlook of XRP holders. The optimism that once drove confidence is now fading, as most investors are sitting on unrealized losses. This shift in....
Bitcoin holders are growing by the day. With the digital asset’s history, most investors have realized that to make returns, holding is the best way to go. Nevertheless, there are still “paper hands” investors who continue to dump their coins with each market fluctuation. Such has also been the case given the recent downtrend but […]