Bitcoin
BTC$17 056.16

0.07%

Ethereum
ETH$1 266.01

0.07%

Tether
USDT$1.000056

0%

Binance Coin
BNB$289.61

-0.09%

USD Coin
USDC$0.999940

0%

Binance USD
BUSD$0.999840

-0.08%

US won't allow crypto to be used to avoid taxes


10 Mar 2022

#Bitcoin

Bitcoin soared 8.8% on Wednesday, ending the day around $41.9K. Apparently, the benchmark cryptocurrency experienced clear problems with growth above $42K. On Thursday morning we see an equally strong reversal move back to $39K. As a result, Bitcoin lost 5.6% in 24hours Ethereum - 4.8%, other leading altcoins from the top ten are declining from 1% (Terra) to 7.2% (Avalanche).

According to CoinMarketCap, the total capitalization of the crypto market decreased by 4.5% over the day, to $1.75 trillion. The Bitcoin Dominance Index dropped from 43.0% to 42.7%. The Cryptocurrency Fear and Greed Index added 6 points to 28, climbing into “fear” territory.

Bitcoin's growth momentum was also supported by the positive dynamics of stock indices, however, on Thursday morning, the positive pull on them remains in contrast to the sell-off of cryptocurrencies. The FxPro analyst team mentioned that bitcoin jumped when a statement by Janet Yellen appeared on the website of the US Department of the Treasury, which does not contain strict measures to control the field of cryptocurrencies. The statement was posted, probably prematurely, and then quickly removed from the site.

Later on Wednesday, US President Joe Biden signed the first executive order to regulate cryptocurrencies in the country. The document contained only the most general provisions, such as consumer protection, financial stability, technology development and the illegal use of cryptocurrencies. More specific measures in the field of control over the digital asset market will be developed by individual federal departments. In our opinion, the States are making it clear that they will not allow cryptocurrencies to become a shadow business and be used to circumvent sanctions, taxes, money laundering and similar things. Such control is more difficult to implement than with centrally issued fiat money.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 88.8% 17 $17 056.16 0.07% 1.02% $327 926 342 780 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 82.8% 28 $1 266.01 0.07% -0.48% $154 926 130 761 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 94% 1 $1.000056 0% 0.04% $65 688 871 034 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 79.2% 44 $289.61 -0.09% -4.40% $46 329 397 846 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 92.8% 1 $0.999940 0% -0.03% $43 027 424 874 USDC 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 93.6% 1 $0.999840 -0.08% -0.08% $22 096 550 218 BUSD 7 days price change
7 XRP (XRP) XRP XRP predictions 79.6% 29 $0.390151 0.72% -4.37% $19 609 162 360 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 62% 73 $0.100195 -2.10% -6.70% $13 292 999 012 DOGE 7 days price change
9 Cardano (ADA) ADA Cardano predictions 84% 31 $0.317932 -0.70% 0.55% $10 955 712 261 ADA 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 96% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Polygon (MATIC) MATIC Polygon predictions 74% 51 $0.914223 -0.51% 5.69% $7 985 110 335 MATIC 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 81.6% 37 $5.49 -0.29% 0.61% $6 279 301 547 DOT 7 days price change
13 Dai (DAI) DAI Dai predictions 92% 1 $0.999616 0.01% -0.11% $5 876 435 517 DAI 7 days price change
14 Litecoin (LTC) LTC Litecoin predictions 56.8% 87 $79.73 -1.37% 0.52% $5 722 443 949 LTC 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 82% 30 $0.053484 0.50% -0.80% $5 438 067 310 WTRX 7 days price change

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