That is close. Not every trade is a taxable event. Investopedia defines taxable event as:

"A taxable event is any event or occurrence that results in a tax liability."

Since some crypto trades result in a loss, or a break even, they are NOT taxable events. I like to say that every crypto trade results in a bookkeeping event, but not every trade results in a taxable event.

The tax profession is sloppy when its practitioners incorrectly state that all crypto trades are taxable events.

As of today, I would not bet that the like-kind exchanges for crypto will hold up pre-2018, but the jury is still out on that case.