Cyptos Fall Over Fears Of US Tax Hikes
Major cryptocurrencies like Bitcoin and the coin of Ethereum have depreciated significantly against the US dollar since the administration of US President Joe Biden warned on Thursday that capital gains taxes could rise. According to cryptocurrency exchange platform Coinbase.com, a single bitcoin was worth $ 52,121.62 on Sunday at 10:20 p.m. - a decrease from Coinbase's $ 55,278.64, which was quoted at 9:30 a.m. EST on Friday. The evening price meant an increase in the Bitcoin value compared to the numbers a few hours earlier. Another major cryptocurrency , Ethereum, hit $ 2,435.33 on Sunday around 10:20 p.m. - a drop of around 1.8 percent from Friday's high, according to Coinbase.com. Ethereum had been turned off by more than 5 percent the Sunday before. According to Reuters, which reported the decline in cryptocurrency values earlier over the weekend, a major reason was fears of the potential that higher US capital gains taxes would scare off investors who might other...