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Taxation Challenges In Cryptocurrency Crypto investors have many problems to solve, and new ones have emerged over the past few years. Cryptocurrencies are not yet fully regulated around the world. However, the IRS in the United States has taken significant steps regarding taxation. The latest announcements are troubling for investors in the US. Turkey has not yet taken concrete steps regarding the taxation of cryptocurrencies. Authorities mentioned the need for comprehensive studies on taxation during the bull market of 2021. Since laws cannot be applied retroactively, there seems to be no problem for Turkey at the moment.However, it seems that necessary steps will be taken following the latest draft crypto law expected to be enacted by June, prepared by the Ministry of Treasury and Finance. The rules aimed at removing Turkey from the FATF grey list also signal that cryptocurrency regulations will soon be implemented.After resolving issues such as the definition of cryptocurrencies and how they will be recognized as assets, the issue of taxing cryptocurrencies will come to the agenda in Turkey. The situation for US investors is less complicated. There, the IRS is requesting declarations of crypto income for 2024. Guy Ficco, Chief of Criminal Investigation at the IRS, said in his latest interview with CNBC;“Right now, and in our current inventory, what we see more of is crypto tax crimes. And these are, particularly federal income tax violations involving crypto, very common. It could be simply not reporting income from crypto sales, or it could be hiding the true basis. There is an increase in crime in this area, and I think we will see more cases going forward.” #CryptocurrencyAlert #BullorBear #BinanceLaunchpool

Top Altcoins To Hold Amid Geopolitical Tension In Middle East The cryptocurrency market prolonged its correction on April 13th as the geopolitical tension in the Middle East triggered selling pressure across finance markets. The Iranian attack on Israel initially caused panic among market participants leading to a notable downturn in the crypto market. In the last 24 hours, the Bitcoin price plunged 5% to currently trade at $64234, while top altcoins like Ethereum (ETH), Binance coin (BNB), and Solana (SOL) fell 7%. In the same period, Coinglass reports a total of 256,589 traders were liquidated, amounting to $962.4 million in losses, with the largest single liquidation of $8.46 million occurring on Binance for a BTC/USDT trade.Having said that, Bitcoin is often viewed as a macro hedge indicating that it absorbed much of the immediate aversion to risk. Thus, with the upcoming Bitcoin halving the crypto investor may find a suitable discount opportunity in top altcoins. 1) Ethereum (ETH) 2) Shiba Inu (SHIB) 3) Celestia (TIA) The cryptocurrency market witnessed a notable outflow on the weekend attributed to the Bitcoin ETF outflow and geopolitical issues in the Middle East. The market FUD is currently accelerating this selling pressure indicating the potential for a prolonged downfall. However, the upcoming Bitcoin halving has kept the broader trend bullish. #Ethereum✅ #SHIBAInsights #celestia #bitcoinhalving

Dogecoin (DOGE) – Long traders lost $16 million; Here’s What that Means To Investors Dogecoin’s [DOGE] long liquidations climbed to a 30-day high over the last 24 hours, according to Coinglass. This, on the back of the larger market falling following Bitcoin’s own price depreciation on the charts. In fact, the entire cryptocurrency market saw trade positions worth over $860 million being liquidated among 270,993 traders. On-chain data revealed that DOGE’s long liquidations totalled $16 million. The last time the crypto recorded such a high volume in long liquidations in its Futures market was on 6 March. Liquidations occur in an asset’s Futures market when a trader’s position is forcefully closed due to insufficient funds to maintain the position. Long liquidations occur when there is an unexpected decline in an asset’s price, causing traders who have open positions in favor of a price rally to be forced to exit their positions.In comparison, on the day in question, DOGE short liquidations totalled $3.08 million, as per Coinglass data.Extending its 6% weekly losses, DOGE’s price has plummeted by 13% in the last 24 hours, according to CoinMarketCap. At press time, the leading memecoin was valued at $0.1721 on the charts. An assessment of the altcoin’s price movements on the 1-day chart showed that it might shed more gains this weekend. Key momentum indicators observed revealed a steady decline in demand for DOGE.For instance, the values of its Relative Strength Index (RSI) and Money Flow Index (MFI) were 46.85 and 46.53, respectively. These indicators indicated a decline in demand for the altcoin among market participants and a spike in coin sell-offs. Furthermore, readings from the coin’s Directional Movement Index (DMI) showed that its positive directional index (green) fell below its negative index (red) on 12 April. When these lines trend this way, it suggests a shift from bullish momentum to bearish.Finally, DOGE’s MACD line rested above its signal line at press time confirmed this. #Dogecoin‬⁩ #Memecoins #BullorBear #Shitcoins

The Reason Behind Crypto Crash Today: Bitcoin, Ethereum Plunge as Crypto Market Loses Billions – Solana Surges Amidst Turmoil The cryptocurrency market has endured a sharp reversal of fortunes, with key assets like Bitcoin (BTC) and Ethereum (ETH) suffering considerable price erosion. The cumulative value of the market has shrunk significantly, fueling apprehension among investors. Market analysts attribute the downturn primarily to heightened geopolitical tensions. Reports of escalating conflict in the Middle East appear to have triggered widespread unease, prompting investors to shift away from assets perceived as riskier, such as cryptocurrencies. In a remarkable development, Solana (SOL) has bucked the negative market trend, registering impressive price gains. This resilience amidst a downturn is prompting experts to examine potential catalysts. Factors such as recent technical improvements to Solana’s network or positive news within its developer community could be contributing to its strength. The recent market turbulence underscores the cryptocurrency sector’s inherent volatility. Geopolitical events, regulatory changes, and project-specific developments can significantly impact asset prices. It’s crucial to remember that even during market-wide declines, individual projects may exhibit independent trajectories based on their unique strengths and fundamentals. Investors are advised to exercise caution, conduct thorough research on projects before investing, and adopt a diversified portfolio strategy to manage risk. By spreading investments across a range of cryptocurrencies with varying use cases and technologies, investors can potentially reduce the impact of volatility on their overall holdings. Maintaining a long-term perspective, conducting due diligence, and practicing sound risk management strategies remain essential for navigating the ever-evolving cryptocurrency landscape. #CryptocurrencyAlert #BTCHalvingApril2024 #EthereumRival #BinanceACGroup

ONDO ‘Decouples’ From Ethereum To See Green – Is $1 Price Next? ONDO decoupled from the wider crypto-market as its daily chart remained green, while others bled. In fact, ONDO also managed to outshine the king of altcoins, Ethereum [ETH], on the social front. Let’s have a closer look at ONDO to see what’s going on.While most cryptos’ daily charts were red because of the market crash, ONDO chose to move the other way. According to CoinMarketCap, the altcoin appreciated by more than 5% in the last 24 hours. At the time of writing, it was trading at $0.8269 with a market capitalization of over $1.14 billion, making it the 77th largest crypto. The positive price action also caused investors’ confidence in the token to increase. This was supported by the fact that ONDO’s weighted sentiment spiked sharply. In fact, the uptick was so sharp that it outperformed ETH on this front. LunarCrush recently shared a tweet highlighting ONDO’s growth on the social front. As per the same, the token’s social interactions surged by 117.4%.A possible reason behind this surge might be related to BlackRock. The altcoin’s social volume and value increased after it tested out the newly introduced ability to do near-instant conversions between Circle’s USDC stablecoin and BlackRock’s new BUIDL token. However, will the hype around this episode be enough for ONDO to maintain its bull rally? To see which way ONDO might be heading, AMBCrypto analyzed Santiment’s data. As per our analysis, buying pressure on the token was increasing as its supply on exchanges dropped. Meanwhile, its supply outside of exchanges increased, highlighting that investors have been accumulating more. However, the supply held by top addresses dropped slightly, indicating that a few whales might have sold their holdings. Its MVRV ratio also seemed troublesome, with the same declining sharply over the last few days. #Ethereum✅ #Ondo #ondousdt #ETHUSDT

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