Biden Tax Plan
Updated
"The Biden administration is looking to raise the top marginal income tax rate to 39.6% from 37%, whilst also doubling capital gains tax to 39.6% for people earning more than 1m. Tax the rich, hand it out to the poor. Sounds like furlough, but on a permanent basis," Neil Wilson, chief markets analyst at Markets.com said.
“The difference between cryptocurrency and any other market is that we’re seeing more and more large-scale crypto buyers who simply have no intent on exiting the position,” Landsberg-Sadie said. Instead, the stock-to-flow model cited by blockchain hedge fund Pantera Capital for its prediction that the price of bitcoin will reach $115,000 this summer will be a “much stronger driver of value than fiat-based tax.”
According to Landsberg-Sadie, the drop in bitcoin’s value on Friday has been an “overreaction” to Biden’s capital gains proposal and will likely bounce back to the Pantera projections where it's next high is somewhere above $70,000.
Thoughts? Could we see 40k or even 26k? Is the FUD that influential?
Wanted to start more of a discussion on this topic, interested to know what the general consensus on this is...since it's lame not to give your own opinion, I am long, the technicals support a move to 40k, but a close above that range the next few days should mean support to move upwards.
Good Luck.
“The difference between cryptocurrency and any other market is that we’re seeing more and more large-scale crypto buyers who simply have no intent on exiting the position,” Landsberg-Sadie said. Instead, the stock-to-flow model cited by blockchain hedge fund Pantera Capital for its prediction that the price of bitcoin will reach $115,000 this summer will be a “much stronger driver of value than fiat-based tax.”
According to Landsberg-Sadie, the drop in bitcoin’s value on Friday has been an “overreaction” to Biden’s capital gains proposal and will likely bounce back to the Pantera projections where it's next high is somewhere above $70,000.
Thoughts? Could we see 40k or even 26k? Is the FUD that influential?
Wanted to start more of a discussion on this topic, interested to know what the general consensus on this is...since it's lame not to give your own opinion, I am long, the technicals support a move to 40k, but a close above that range the next few days should mean support to move upwards.
Good Luck.
Trade active
btc gives no fucks...Trade active
PT 70k
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