Monday, January 24, 2022

Bitcoin Price Stays Below $ 51,000 Over Holiday Weekend

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Wednesday, we recapped how Tesla’s acceptance of bitcoin and Coinbase’s direct listing helped send the price of bitcoin to a new all-time high near $ 65,000, which, in hindsight, turned out to be the market peak. Today we’ll show how some traders and investors started cashing in in April and May as concerns mounted over U.S. capital gains taxes, bitcoin’s environmental footprint, and an outright ban. of cryptography in China. It seemed that fear, uncertainty, and doubt – FUD, or crypto-talk for negative news – were happening at the same time.

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