Bitcoin has slipped below the 50-day moving average support that it held sacrosanct through this rally, said Pankaj Balani, CEO of Delta Exchange. It looks like there is more downside here.
The latest threat comes from a Bloomberg News report on Thursday that the Biden administration is considering raising the tax on capital gains to 39.6 per cent for those earning more than $US1 million a year. That was enough to ignite the biggest slide in US stocks in five weeks.
US investors in bitcoin, which…
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