How to Make Investments for Beginners When Bitcoin Turning Point Has Appeared?
2022-04-18 15:59:31
Is Bitcoin A Good Investment for Beginners?
The recent prices of Bitcoin, the number one stable virtual currency for cryptocurrencies, have been in a downward phase with no breakthroughs. The price of Bitcoin peaked at $48,000 at the end of March, while the recent price of Bitcoin is at around $40,000 and sometimes below. For newbies, Bitcoin investments will be relatively more stable than other cryptocurrencies, however, the timing of the investment is also important.
At the time of writing, we can see from the world's digital currency exchange Gate.io that the current price of Bitcoin is $39,821, down 5.8% in the last 7 days and down 1.4% in the last 24 hours. Bitcoin's 24-hour trading volume was $20.06 billion.
One of the reasons for the rise in Bitcoin prices at the end of March was the impact of the U.S. Senate's regulation of cryptocurrencies, coupled with an inflationary adjustment. With Bitcoin currently at a turning point, will its price continue to fall next? Is it a good idea for newbies to take the plunge and invest?
Russia's Final Bill on Cryptocurrency Regulation Under Review
A bill related to cryptocurrencies was introduced in Russia back in March, but from the initial non-acceptance to the current review of the final bill, there have been some changes in the regulation of cryptocurrencies in Russia in the past month.
According to a report by Kommersant, the Russian Ministry of Finance submitted a bill entitled "On Digital Currencies," on April 15 which contains a detailed regulatory framework for the circulation of cryptocurrencies and even mining-related. The bill opens up new opportunities for Bitcoin miners who are in a regulatory gray area.
In addition, the bill also introduces physical authentication, identification, and transaction requirements for cryptocurrency investments. It also proposes that cryptocurrencies can be recognized as a "means of payment" rather than a currency in circulation, further recognizing them as legally acceptable investment vehicles.
The bill will be reviewed in less than a month. If the bill passes the review, then it will have some impact on Bitcoin, including its price.
Kazakhstan's Bitcoin Mining Tax to Increase 10-Fold
According to recent news, Kazakhstan's Minister of National Economic Alibek Kuantyrov wants to tie the Bitcoin mining tax to the underlying asset price. Such a tie would on the other hand drive Kazakhstan's national economic revenue.
According to government officials, BTC mining in Kazakhstan was disconnected from the national grid as early as January 2022. The mining tax currently in place will be divided into two tiers, one for $40,000 and below, and one for over $40,000. When taxes on mining activities in Kazakhstan are linked to the country's economic revenue, the Bitcoin price live is also heavily influenced.
As far as the current news of Bitcoin-related activity is concerned, there is still a lot of potential for a volatile trend in the price of Bitcoin. Many investors predict that Bitcoin, which is currently hovering at $40,000, will break through the turning point to usher in the next price peak by May. Yet Bitcoin is still considered a relatively stable virtual currency here compared to cryptocurrency newbies. The same logic of buying low and selling high that applies to the traditional economy also applies to cryptocurrencies. However, the difference is that the risk behind cryptocurrencies is much higher. It needs to be carefully thought out before investing.
The recent prices of Bitcoin, the number one stable virtual currency for cryptocurrencies, have been in a downward phase with no breakthroughs. The price of Bitcoin peaked at $48,000 at the end of March, while the recent price of Bitcoin is at around $40,000 and sometimes below. For newbies, Bitcoin investments will be relatively more stable than other cryptocurrencies, however, the timing of the investment is also important.
At the time of writing, we can see from the world's digital currency exchange Gate.io that the current price of Bitcoin is $39,821, down 5.8% in the last 7 days and down 1.4% in the last 24 hours. Bitcoin's 24-hour trading volume was $20.06 billion.
One of the reasons for the rise in Bitcoin prices at the end of March was the impact of the U.S. Senate's regulation of cryptocurrencies, coupled with an inflationary adjustment. With Bitcoin currently at a turning point, will its price continue to fall next? Is it a good idea for newbies to take the plunge and invest?
Russia's Final Bill on Cryptocurrency Regulation Under Review
A bill related to cryptocurrencies was introduced in Russia back in March, but from the initial non-acceptance to the current review of the final bill, there have been some changes in the regulation of cryptocurrencies in Russia in the past month.
According to a report by Kommersant, the Russian Ministry of Finance submitted a bill entitled "On Digital Currencies," on April 15 which contains a detailed regulatory framework for the circulation of cryptocurrencies and even mining-related. The bill opens up new opportunities for Bitcoin miners who are in a regulatory gray area.
In addition, the bill also introduces physical authentication, identification, and transaction requirements for cryptocurrency investments. It also proposes that cryptocurrencies can be recognized as a "means of payment" rather than a currency in circulation, further recognizing them as legally acceptable investment vehicles.
The bill will be reviewed in less than a month. If the bill passes the review, then it will have some impact on Bitcoin, including its price.
Kazakhstan's Bitcoin Mining Tax to Increase 10-Fold
According to recent news, Kazakhstan's Minister of National Economic Alibek Kuantyrov wants to tie the Bitcoin mining tax to the underlying asset price. Such a tie would on the other hand drive Kazakhstan's national economic revenue.
According to government officials, BTC mining in Kazakhstan was disconnected from the national grid as early as January 2022. The mining tax currently in place will be divided into two tiers, one for $40,000 and below, and one for over $40,000. When taxes on mining activities in Kazakhstan are linked to the country's economic revenue, the Bitcoin price live is also heavily influenced.
As far as the current news of Bitcoin-related activity is concerned, there is still a lot of potential for a volatile trend in the price of Bitcoin. Many investors predict that Bitcoin, which is currently hovering at $40,000, will break through the turning point to usher in the next price peak by May. Yet Bitcoin is still considered a relatively stable virtual currency here compared to cryptocurrency newbies. The same logic of buying low and selling high that applies to the traditional economy also applies to cryptocurrencies. However, the difference is that the risk behind cryptocurrencies is much higher. It needs to be carefully thought out before investing.
Previous article:
What You Need to Know When Buying Bitcoin with PayPal
Popular News
