The current bull market is centred around #WIF and #PEPE with WIF priced at $2.08 and PEPE at $ 0.00000788 . And on the other hand #BTC has hit ATH, with more news hopping in the feed that what if it lands ATH at $100k ! The volatility of the prices is increasing significantly.
The volatility means that all eyes shall be on the market for the next phase. In all these ups and downs, incurring both gains and losses are a prospect for all investors of these coins.But to actually regain your losses is it possible? Yes, while you calculate your taxes for all your capital gains on Kryptos.io , for your unrealised losses - Tax Loss Harvesting can always be the beacon of hope.
To actually get up to the pace you can always check our Tax Guides and see for yourself the benefits and the methods to proceed ahead.
Will BTC fall again ? It broke record after record, exceeding $71,000. $69,000 was a very important resistance point, but it exceeded it considerably and reached up to $71,000. The most important point here is that $BTC has now moved away from the 69,000 level and it has become difficult to fall below that level again. In this way, we can say that both $69,000 and $70,000 are now a support point for Bitcoin.
So will Bitcoin rise further from now on? Yes ,as per reports. Thanks to the approval of applications #Halving and #ETF , Bitcoin now has more momentum in the long term. These two positive factors are actually factors that will have an impact in the long term, not in the short term. For this reason, we can see Bitcoin testing above the $ 100,000 level this year.
Even though if you incur unrealised losses in future, With Kryptos you can gain them back through Tax Loss Harvesting and calculate your taxes in no time.
You can check our guide here on Tax Loss Harvesting: https://kryptos.io/blog/kryptos-advanced-guide-to-crypto-tax-loss-harvesting.
Put your thoughts in the comments, we are listening !
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The US House of Representatives has passed the Financial Innovation and Technology Act of the 21st Century (FIT 21), aimed at clarifying crypto regulations. This bipartisan move seeks to define which aspects of cryptocurrency regulation fall under the SEC and which fall under the CFTC. Historically, dual oversight has been a challenge, with the SEC's stricter approach versus the CFTC's more lenient one.
Key Points of FIT 21: - Classification based on project control and token/voting rights exceeding 20%. - Encourages projects to decentralize. - Public fundraising as a commodity with a valuation under $75 million and retail participation below 10%.
This could pave the way for significant development in decentralized applications. In this evolving landscape, tools like Kryptos—a free crypto tax software with portfolio management—become invaluable. Kryptos simplifies tax compliance and portfolio tracking, ensuring you stay on top of your crypto game.