US won't allow crypto to be used to avoid taxes
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.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 84.4% | 24 | $60 131.51 | -1.50% | 4.07% | $1 187 948 880 080 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 77.2% | 47 | $2 326.80 | -1.79% | -1.36% | $280 015 275 044 |  |
|
| 3 |  USDT |
Tether predictions | 93.6% | 1 | $1.000026 | -0.01% | -0.01% | $118 844 209 087 |  |
|
| 4 |  BNB |
Binance Coin predictions | 78.8% | 33 | $546.19 | -0.61% | 2.39% | $79 707 198 020 |  |
|
| 5 |  SOL |
Solana predictions | 75.2% | 41 | $131.32 | -1.50% | -1.51% | $61 507 367 220 |  |
|
| 6 |  USDC |
USD Coin predictions | 92.4% | 1 | $1.000362 | 0.04% | 0.03% | $35 600 779 343 |  |
|
| 7 |  XRP |
XRP predictions | 79.6% | 40 | $0.574877 | -2.46% | 7.21% | $32 415 053 866 |  |
|
| 8 |  DOGE |
Dogecoin predictions | 84% | 28 | $0.101979 | 0.09% | 0.23% | $14 889 927 352 |  |
|
| 9 |  TON |
Toncoin predictions | 76% | 48 | $5.50 | -0.40% | 3.75% | $13 936 814 564 |  |
|
| 10 |  TRX |
TRON predictions | 85.6% | 14 | $0.149568 | -0.40% | -2.30% | $12 964 747 162 |  |
|
| 11 |  ADA |
Cardano predictions | 78.4% | 37 | $0.334999 | -0.54% | -3.21% | $12 046 775 107 |  |
|
| 12 |  STETH |
Lido stETH predictions | 94.4% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 13 |  WTRX |
Wrapped TRON predictions | 94.8% | 1 | $0.116354 | -0.46% | 0.23% | $10 171 995 609 |  |
|
| 14 |  WBTC |
Wrapped Bitcoin predictions | 94.4% | 1 | $65 806.83 | 0.78% | -2.68% | $10 083 957 608 |  |
|
| 15 |  AVAX |
Avalanche predictions | 75.2% | 45 | $23.13 | -4.20% | -1.76% | $9 390 128 560 |  |
