sincerem
VIP Contributor
We all know that last two weeks wasn't a good week at all in the crypto market. Most of the known coins all faced surprised decline.
The decision undertaken by the US government orchestrated by the incumbent president Joe Biden, affected the price. Because the traders felt it is too much for them to pay such high level tax based on what they generate. But when you look at it the other way round, you'll understand that the President decision is a wise one, since Cryptocurrency is a proven investment for the US people.
Lots of money is generated from it through its investment options. So the US government viewed it as an avenue to generate more revenue to service the country well, and improve the country's overall economy. BTC fell short to $48,000 during that particular day the pronouncement was made.
As time goes, the coin is gradually moving back to its original price before the decision outbreak. Now the coin is worth $56,925, it has seen improvement around 8% in the last 10 days after that sudden decline. Other coins like XRP, BCH, BNB, LTC, ETH,DOT etc, are on the massive increase at the moment after that sudden price decline caused by the decision of tax payment to traders.
You can check them on your own at Cryptocurrency Prices, Charts And Market Capitalizations | CoinMarketCap, and see their recent progress comparing them with their last 10 days price decline.
The decision undertaken by the US government orchestrated by the incumbent president Joe Biden, affected the price. Because the traders felt it is too much for them to pay such high level tax based on what they generate. But when you look at it the other way round, you'll understand that the President decision is a wise one, since Cryptocurrency is a proven investment for the US people.
Lots of money is generated from it through its investment options. So the US government viewed it as an avenue to generate more revenue to service the country well, and improve the country's overall economy. BTC fell short to $48,000 during that particular day the pronouncement was made.
As time goes, the coin is gradually moving back to its original price before the decision outbreak. Now the coin is worth $56,925, it has seen improvement around 8% in the last 10 days after that sudden decline. Other coins like XRP, BCH, BNB, LTC, ETH,DOT etc, are on the massive increase at the moment after that sudden price decline caused by the decision of tax payment to traders.
You can check them on your own at Cryptocurrency Prices, Charts And Market Capitalizations | CoinMarketCap, and see their recent progress comparing them with their last 10 days price decline.
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