BITCOIN- Bullish Despite Incoming Crypto Tax

New Infrastructure Bill Looks to Raise $30B Through Crypto Taxes

According to a draft copy of the bill shared with CoinDesk, any broker that transfers any digital assets would need to file a return under a modified information reporting regime. The draft defined digital assets as “any digital representation of value … recorded on a cryptographically secured distributed ledger” or related technology. It also includes decentralized exchanges and peer-to-peer marketplaces in its definition of brokers.

A separate summary of the bill further clarified that cryptocurrencies are treated as a subsection of the broader digital asset umbrella.

Meanwhile, Bitcoin Price Slumped 5% as Recent Rally Began to Cool but our chart shows support is being satisficed and honored and a new rise could be in the making with a first take profit target at around 45k $

Our analysis remains Bullish up until the US government (they said they need a few months just 2 weeks ago) drafts a proposed plan on further regulation.

One Love,

the FXPROFESSOR