{"id":233816,"date":"2021-04-23T08:43:00","date_gmt":"2021-04-23T05:43:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-drops-below-50000-dented-by-rising-u-s-tax-worries\/"},"modified":"2021-04-23T08:43:00","modified_gmt":"2021-04-23T05:43:00","slug":"bitcoin-drops-below-50000-dented-by-rising-u-s-tax-worries","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-drops-below-50000-dented-by-rising-u-s-tax-worries\/","title":{"rendered":"#\n  Bitcoin drops below $50,000, dented by rising U.S. tax worries"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3c80a14f365\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3c80a14f365\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-drops-below-50000-dented-by-rising-u-s-tax-worries\/#Barbara_Kollmeyer\" >Barbara Kollmeyer<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#<br \/>\n  Bitcoin drops below $50,000, dented by rising U.S. tax worries<br \/>\n<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\">\n<\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div class=\"cx--next\">\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000243198\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       The price of bitcoin dropped below the psychologically important $50,000 level on Friday, as worries over rising U.S. taxes filtered over to cryptocurrencies, adding to recent pressure already simmering on those alternative investments.<\/p>\n<p> Bitcoin prices<br \/>\n        BTCUSD,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/31322028\/realtime\" class=\"negative\">-5.60%<\/bg-quote><br \/>\n       last changed hands at $49,225, a slide of nearly 10% over 24 hours and a level not seen since early March, according to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coindesk.com\/price\/bitcoin\" class=\"icon none\">Coindesk<\/a>. Losses were spread across other cryptocurrencies, with ether\u00a0<br \/>\n        ETHUSD,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/108573964\/realtime\" class=\"negative\">-8.77%<\/bg-quote><span>,<\/span><br \/>\n      \u00a0on the ethereum network, also droppping around 10% over the same time period, trading at $2,219. XRP\u00a0<br \/>\n        XRPUSD,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/108573966\/realtime\" class=\"negative\">-16.57%<\/bg-quote><span>,<\/span><br \/>\n      \u00a0which is pegged to Ripple, has lost 21% in 24 hours, last trading at a new high of $1.00.<\/p>\n<div class=\"paywall\">\n       The fresh losses for bitcoin represent around a 24% drop from a recent peak of $64,829 for the cryptocurrency, meeting the widely accepted definition of a correction. Bitcoin saw a sharp slide last weekend, though the cryptocurrency\u2019s volatility mean slides of more than 10% are not unusual. Fears of increased regulation were at the heart of last Sunday\u2019s pullback. <\/p>\n<p>Friday\u2019s losses come on the heels of a 300-point loss for the Dow industrials<br \/>\n        DJIA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598065\/realtime\" class=\"negative\">-0.94%<\/bg-quote><br \/>\n       after a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> report that President Joe Biden is weighing a plan to nearly double capital-gains tax on the wealthy.<\/p>\n<p>\u201cIt is clear that\u00a0Bitcoin\u00a0is more sensitive to capital gains tax threats than most \u2018asset\u2019 classes. The threat of regulation, either directly in developed markets or indirectly via the taxman, has always been crypto\u2019s Achilles\u2019s heel, in my opinion,\u201d Jeffrey Halley, senior market analyst at OANDA, told clients in a note.<\/p>\n<p>Halley said the next bitcoin level he\u2019s watching out for is $42,000, which \u201cmight come this weekend, or next week or perhaps not at all.\u201d <\/p>\n<p>\u201cHopefully, we will hear as many \u2018experts\u2019 saying this is a sign of\u00a0bitcoin\u00a0becoming a \u2018maturing mainstream asset\u2019 if it falls 10% this weekend, as we do when it rises, or a crypto-exchange chooses to IPO,\u201d he said. <\/p>\n<p>A number of analysts have warned of a near-term downturn for bitcoin as the cryptocurrency has continued to track lower after reaching an all-time peak above $64,000 following the direct listing of cryptocurrency platform Coinbase<br \/>\n        COIN,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/225893452\/composite\" class=\"negative\">-5.92%<\/bg-quote><span>.<\/span>\n       <\/p>\n<\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Barbara Kollmeyer\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Barbara_Kollmeyer\"><\/span>Barbara Kollmeyer<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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Bitcoin prices BTCUSD, -5.60% last changed hands at $49,225, a&#8230;<\/p>\n","protected":false},"author":1,"featured_media":233817,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-233816","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/233816","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=233816"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/233816\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/233817"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=233816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=233816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=233816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}