Taxman has an eye on your crypto profits

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Digital currencies take a dive Bitcoin and other digital currencies plunged yesterday, a slide likely to stoke speculation about the durability of the boom in cryptocurrencies. Bitcoin slumped as much as 8,7% — the most since early August — while other digital coins like Ether posted double-digit percentage declines. The Bloomberg Galaxy Crypto Index at one point slid more than six percent. Even with the retreat, Bitcoin has more than doubled this year and until recently was knocking on the door of the record high of $19 511 set in 2017. Crypto believers tout purchases by retail investors, institutions and even billionaires, as well as the search for a hedge against dollar weakness, as reasons why the boom can last. PHOTO: Reuters
Digital currencies take a dive Bitcoin and other digital currencies plunged yesterday, a slide likely to stoke speculation about the durability of the boom in cryptocurrencies. Bitcoin slumped as much as 8,7% — the most since early August — while other digital coins like Ether posted double-digit percentage declines. The Bloomberg Galaxy Crypto Index at one point slid more than six percent. Even with the retreat, Bitcoin has more than doubled this year and until recently was knocking on the door of the record high of $19 511 set in 2017. Crypto believers tout purchases by retail investors, institutions and even billionaires, as well as the search for a hedge against dollar weakness, as reasons why the boom can last. PHOTO: Reuters

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