Did you guys checking the crypto market today? If you have checked then i am pretty sure you got shocked for a moment and thought why this happening ? here i have come with the reason why the market has crash down like this guys :
Earlie today or yesterday , according to a Bloomberg report, Joe Biden would raise the capital income tax rate in his next economic plan to a maximum of 43.4%. Prices in the stock market fell on the basis of this news, followed by its similar effect in the cryptocurrency market.
The price of Bitcoin continued to fall in the morning, reaching a low of ৮ 4,728, the lowest in the last 50 days. Earlier, on March 3, Bitcoin had a low of ৭ 47,000. Earlier in the day, the price of Bitcoin was ৮ 53,625 at the beginning of the day, which rose to a high of ৫ 55,500. A lot of people sell bitcoin from 4/5 am Bangladesh time due to which the market fell very fast although now it has recovered a lot.
Although the market has fallen very quickly based on this news, this does not really apply to everyone. According to a Bloomberg report, the new tax on capital income will only apply to those with a capital income of 1 million usd
or 1 million and more and the equivalent investment at the time.
Then what your review now about crypto market mate ?? Will the market keep doing from now ?
Also from a new news i have come to know that Currently BTC Holding 49K Trendline Support.if it Holds 1day Candle Closing above 49K we see Bullish Zone again .if 1day Candle Closes below 49K Trendline we See fall again around 44-43K..
do not you think BTC gonna go on it own price again ?