Bitcoin News and Finance: What You Need to Know

PRESS RELEASE. With crypto markets down around 50% in the past month and over 70% from their highs in late 2021, many crypto investors are searching for answers after their profits from the last few years have evaporated into the ether. Following the incredible bull market, crypto investors enjoyed over 2020 and 2021; you may now find yourself nursing losses rather than gains ahead of the upcoming tax season. Crypto tax platform Koinly shares 5 little-known tax hacks you need to know after the crypto crash. 1. Pay less tax by holding Want to avoid paying tax on crypto? While you can’t dodge your tax obligations entirely – there are quite a few ways you can optimize your tax position. But here’s the catch, you’ll need to do it before the end of the financial year to pay less tax overall. You’ve probably heard it before, but the easiest way to pay less crypto tax is to simply HODL. In many jurisdictions, holding your crypto investment (or other assets like shares) for longer than...

The results of a new report commissioned by the CNMV, the securities watchdog in Spain, have found that three out of four citizens have heard about cryptocurrencies. However, the report, which included opinions from 1,500 participants, also found that this knowledge is still minimal, and that less than 10% have actually purchased cryptocurrency as a means of investment. CNMV Reveals Results of Crypto Study The CNMV, the institution that oversees the securities markets in Spain, has revealed the results of its latest cryptocurrency report. The study , commissioned by the institution and carried out by a company called “Grupo Analisis e Investigacion,” surveyed 1,500 participants and an alternative sample of 300 cryptocurrency investors to take a snapshot of the penetration that crypto has had regarding Spanish investors. One of the most relevant results of the study has to do with the popularity of crypto in the country. According to the numbers released, three out of every four Spa...

The Advertising Standards Council of India (ASCI) has reportedly revealed that more than 400 crypto ads violated its guidelines so far this year. The majority of complaints the ad council received are directed at influencers. “Some influencers talk so confidently about crypto without fully understanding it.” 419 Ads in Violation — Most Complaints Concern Influencers The Advertising Standards Council of India (ASCI) has reportedly revealed that it received 453 complaints relating to crypto ads between January and May. The council added that out of all complaints, 419 cryptocurrency advertisements required modifications, the Economic Times reported Monday, noting that most complaints concern influencers. Manisha Kapoor, CEO of ASCI, described: Some influencers talk so confidently about crypto without fully understanding it. It does create an impression that it is safe, it’s fine and a cool thing. She explained that the council will continue to focus on adequate disclosures and r...

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says he’s waiting for the price of bitcoin to test $1,100. He added that he will buy more if the cryptocurrency recovers from that price level. Robert Kiyosaki on Bitcoin Testing $1,100 The author of Rich Dad Poor Dad, Robert Kiyosaki, has returned with a new bitcoin outlook. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. The famous author tweeted a “Rich Dad lesson” Monday night. He explained that “losers quit when they lose,” but “winners learn from their losses.” Asserting that “Bitcoin losers are quitting,” he said he is waiting for BTC to test $1,100, adding that he will buy more if the crypto recovers. “If it does not, I will wait for losers to ‘capitulate’ quit then buy more,” he further sta...

Nigerian author and crypto advocate Nathaniel Luz has said his recently published book represents his attempt to remind people of the initial reason why bitcoin was created. He said bitcoin is the summation of over three decades of research and experimentation. Noise of Other Cryptos Drowning Out Message of Bitcoin A Nigerian author and crypto advocate, Nathaniel Luz, has published a new book on bitcoin wherein he reminds readers of the reasons why the cryptocurrency was created. Luz also uses the book to highlight the fact people now use bitcoin to “transact globally without restrictions of age, gender, race or location.” According to Luz, the release of the book is coming at a time when many — particularly those new to crypto — appear to be attracted more by the promise of an “infinite percentage of returns” than by BTC ’s primary selling points. He also said seeing the noise of various cryptocurrencies drowning “the message of bitcoin” motivated him to write a book that explains...

ETH has managed to remain above the $1,200 level on Tuesday, despite an increase in price uncertainty in crypto markets. BTC fell below $21,000 in today’s session, as the global crypto market cap fell by as much as 2% earlier today. Bitcoin Following a marginally bearish start to the week, downward pressure intensified in today’s session, sending bitcoin slightly lower. The world’s largest crypto token fell to an intraday low of $20,577 during Tuesday’s session, less than 24 hours after nearing $22,000. Today’s decline comes following a rise of bearish sentiment, with traders seeing yesterday’s decision by bulls to secure gains as a sign of weakness. As such, those looking for downward opportunities used that as a signal to re-enter the market, pushing prices marginally lower in the process. One of the main catalysts for this change in sentiment is the 14-day RSI, which failed to break out of its key resistance level of 35.70 on Monday. As of writing, BTC /USD is now trading ...

Analysts from the multinational investment bank and financial services company Goldman Sachs Group Inc. have downgraded Coinbase Global Inc. in a note to investors on Monday. Today, Coinbase shares are down 83.68% from the stock’s all-time high (ATH) in November 2021. Goldman analyst William Nance explained that his group of market strategists believes “Coinbase will need to make substantial reductions in its cost base.” Goldman Downgrades Coinbase, COIN Shares Down 83% From Price High Coinbase shares have suffered during the bear market as many crypto company stocks have lost considerable value during the last few months. When Coinbase first went public on April 14, 2021, the company’s shares were listed on Nasdaq via a direct listing under the ticker COIN . At the time, the Coinbase initial public offering (IPO) reference price was set at $250, and investors saw the crypto exchange’s listing as a “watershed” moment. Following the stock coming out of the gate 14 months ago, amid ...

After seeing the country’s inflation rise to 191.6% in June, Zimbabwean monetary authorities said they have resolved to increase the benchmark interest rate to 200% per annum. In addition, the central bank said it will introduce gold coins which will act as an instrument that will “enable investors to store value.” Discouraging Speculative Borrowing Monetary authorities in hyperinflation-stricken Zimbabwe reportedly plan to hike the benchmark interest rate to 200% per annum, one of the highest in the world. According to an official quoted by Bloomberg, this plan is expected to help put the brakes on the country’s runaway inflation. The latest data from Zimbabwe’s statistical body shows the country’s inflation rate now stands at 191.6%. Explaining the rationale behind the planned move, Persistence Gwanyanya, a member of the Reserve Bank of Zimbabwe (RBZ)’s monetary policy committee, said that by hiking the benchmark rate the central bank will discourage speculative borrowing. Gwany...