Bitcoin heads for worst week in a year on wealth tax concerns
A selling bout drove bitcoin down as much to about $47,525, but anyone who bought a year ago is still sitting on a nearly 550% gain
23 April 2021 - 11:17
New York — Bitcoin headed for its worst week in more than a year as a proposed capital-gains tax increase for wealthy Americans intensified the volatility, whiplashing the world’s largest cryptocurrency.
A fresh bout of selling on Friday drove bitcoin down as much as 7.9% to about $47,525 as it continued to take out key technical levels. Wall Street analysts warn of further losses for the notoriously volatile currency that hit a record high of $64,870 on April 14 ahead of Coinbase Global’s listing, before succumbing to an unexplained weekend swoon...
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