Will Bitcoin hit 20k in 2020? – Chip Smith
Now that Bitcoin have stagnated up at the 10k mark, everyone is wanting to know what comes next. The real truth is no one knows what is next, but we can sure have some fun and try and have some guesses.
With the litecoin halving coming up in a week or so, that has got lots of people interested in crypto, and this same event or the halving for bitcoin will happen next year, so I will be watching both events with keen interest, as the rewards go down it can lift prices. Not always. But that is an event we can see play out.
I am positive going forward, but you must remember a few things here middle of the year.
- The IRS is warning thousands of cryptocurrency holders to pay their taxes
- July is seen a bit cooler time period seasonally with bitcoin.
- The Internal Revenue Service is sending letters to 10,000 digital currency holders who potentially failed to pay the necessary taxes or improperly reported taxes on their digital assets last year.
- Negative news seems to be circulating bitcoin again.
We see this time and time again, as soon as prices of bitcoin rise, the IRS likes to come out and spoil the party. So this has happened before, and will probably happen again. Time will tell to see what happens as a result.
Taxpayers should take this news as very seriously by reviewing their tax filings and when appropriate, amend past returns and pay back taxes, interest and penalties but do not let that get in the way of being a crypto advocate.
I am positive going forward, and I still see that in 2019 people are still trying to get rich quick and even take our personal loans to get into crypto. That is the stupidest thing you can do. Always remember to do your own research, and never put in money you cannot afford to lose. This is a risky game, and a very risky asset class, so always use disposable money when dabbling in this world.
Instead of listen to hype you can read real solid crypto news and research analysis here.
Hope this helps. Just my two cents.
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Published at Tue, 30 Jul 2019 01:22:31 +0000
Bitcoin Pic Of The Moment
✅ Marco Verch is a Professional Photographer and Speaker from Cologne. ? This image can be used under Creative Commons 2.0. Please link to the original photo and the license.
By marcoverch on 2018-05-22 05:04:04
