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 | 65.6% | 74 | $30 326.91 | 1.12% | -1.69% | $577 507 167 326 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 66.4% | 75 | $2 076.58 | 2.21% | -10.32% | $250 891 465 462 |  |
|
| 3 |  USDT |
Tether predictions | 96% | 1 | $0.999001 | 0.01% | -0.08% | $75 676 462 108 |  |
|
| 4 |  USDC |
USD Coin predictions | 96% | 1 | $1.000230 | -0.02% | -0.04% | $52 257 987 348 |  |
|
| 5 |  BNB |
Binance Coin predictions | 65.6% | 71 | $304.44 | 2.05% | -3.10% | $49 708 837 503 |  |
|
| 6 |  XRP |
XRP predictions | 66.8% | 66 | $0.435585 | 2.31% | -13.81% | $21 057 536 595 |  |
|
| 7 |  ADA |
Cardano predictions | 68.8% | 66 | $0.575630 | 2.12% | -8.16% | $19 421 209 986 |  |
|
| 8 |  SOL |
Solana predictions | 63.2% | 76 | $56.43 | 3.88% | -13.30% | $19 038 552 817 |  |
|
| 9 |  BUSD |
Binance USD predictions | 96% | 1 | $1.002005 | 0.22% | 0.35% | $18 231 060 479 |  |
|
| 10 |  DOGE |
Dogecoin predictions | 62.4% | 73 | $0.089988 | 2.40% | -16.42% | $11 938 784 018 |  |
|
| 11 |  DOT |
Polkadot predictions | 67.2% | 74 | $11.01 | 1.97% | -0.91% | $10 874 092 462 |  |
|
| 12 |  AVAX |
Avalanche predictions | 66.4% | 75 | $34.13 | 2.44% | -22.27% | $9 183 931 187 |  |
|
| 13 |  WBTC |
Wrapped Bitcoin predictions | 67.2% | 74 | $30 349.83 | 1.15% | -1.21% | $8 599 743 334 |  |
|
| 14 |  TRX |
TRON predictions | 71.6% | 60 | $0.072402 | 4.12% | -4.60% | $7 070 299 328 |  |
|
| 15 |  SHIB |
SHIBA INU predictions | 64.8% | 75 | $0.000013 | 4.03% | -21.64% | $6 883 934 346 |  |
