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How Low Can Bitcoin Go?

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Ladies and Gentleman this is Wall Street’s version of a pump and dump. Traders realize that the rebranding is only a publicity stunt and the company has admitted that they may never even integrate any blockchain solutions. Goldman’s Cryptotraders Now, the infamous trading firm Goldman Sachs is getting in on the action and has announced that they are opening their own Cryptotrading desk. This is a truly exciting update and it only confirms what we’ve been saying at eToro for the past few years, that cryptotrading is the future of Forex. With that, as every trader knows, markets go both ways and at the moment they’re going down. So let’s take a look. Massive Pullback Looking at the overall cryptomarket, we’re now 25% from the top. Timewise we’re back to the levels last seen on December 13th. All in all, not too much damage so far but the fear is certainly setting in with many and there is a possibility to go further.  Even if we see a move to as low as $10,000 we co
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Optimism Declines as Bitcoin Futures Euphoria Ends

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Pending Futures Markets Brought Hype and 45 Days of BTC Gains Futures markets are here, but the excitement leading up to these investment vehicles was far more thrilling than they are today. When Cboe launched its bitcoin futures products called XBT, both spot and derivatives markets pushed up the price. Cboe’s January expiration contracts started off with decent volume as 1,583 products were sold. However, the following month’s contracts have dwindled down to less than 200 contracts for February and March. Initially, Cboe contracts predicted some pretty high prices reaching a high of $18,650, but now contracts are much lower as  the last Cboe XBT trade was $16,930 . Additionally, when Cboe launched, spot markets had spiked after suffering from a dip and reached a high of $19,650 across global exchanges. The Futures Euphoria Begins to Wear Off The spot market price dropped shortly after and hovered above the $18K territory for a few days until CME Group  launched  its futures
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Bitcoin Cash Price Easily Surpasses $3,300 as Bitcoin Continues to Struggle

BITCOIN CASH PRICE GAINS ADD UP NICELY Anyone who bought  Bitcoin Cash  about a week ago – or even earlier – will be quite happy with how things have turned out. Unlike what most people had expected at this point in time, the Bitcoin Cash price successfully surpassed its previous all-time high of $2,800. In fact, it made that particular all-time high look like pocket change, considering how the new all-time high is recorded at $3,813. This is over $1,000 higher than the previous record, which is incredibly impressive. Most of these gains have been recorded in the past 24 hours. Just yesterday, it seemed as if the Bitcoin Cash price would surpass $2,500, even though the momentum did not necessarily warrant a new all-time high in quick succession. Then again, the ongoing Bitcoin problems are forcing users to look for alternatives, especially now that the Bitcoin price is struggling quite a bit.  It will be interesting to see how long this momentum can remain in place, as many
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India’s Tax Authorities to Issue Notices to 500,000 Bitcoin Traders

India’s Income Tax (IT) department is set to issue notices to up to 500,000 bitcoin adopters trading the cryptocurrency in exchanges across the country. India’s tax suits are widening their probe into bitcoin investments and trading after last week’s visits to at least 9 bitcoin exchanges in various parts of the country. At the time, it was reported that the tax authority had performed ‘ surveys ’ to determine the “identity of investors and traders, transactions undertaken by them, identity of counterparties [&] related bank accounts used, among other [details],” under the suspicion of alleged tax evasion. The coordinated operation eventually saw a spokeswoman for the tax authority admit the information was collected from bitcoin exchanges and “investors, their source of investment” toward the “ possibility of collecting tax.” A little over a week since the ‘surveys’, India’s tax authority is already casting an eye on 400,000 to 500,000 high net-worth individuals (HNIs) acr
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India Targets Wealthy Bitcoin Traders

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India Targets Wealthy Bitcoin Traders “Those individuals and entities whose records were recovered by the department,” an ITDI official noted, referencing  recent raids on cryptocurrency exchanges , “are now being probed under tax evasion charges. Notices are being issued and they will have to pay capital gains tax on the bitcoin investments and trade,”  Press Trust of India reported. According to various reports, still more surveys are in the process of being sent out to India’s cryptocurrency exchanges, asking about the trading habits of its high-net-worth individuals (HNIs), roughly half a million customers it suspects of failing to pay tax. The  Bengaluru division  is expanding the probe across India. Operations were undertaken with the authority of section  133 A of the  Income Tax Act , which was used to gather “evidence for establishing the identity of investors and traders, the transaction undertaken by them, identity of counter-parties, related bank accounts used, am
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