The big advantage for crypto investors by the government

The big advantage for crypto investors by the government

 Crypto Gloom: Investors Take Advantage of Price Cuts to Gain Government Transparency

Investors want transparency on long-term cryptocurrency transactions that they believe are unstable without government support. The government levies a 30 percent tax on natural resources

Some savvy investors are buying cryptocurrencies during a slump in the market, hoping for long-term gains, which have been under intense selling pressure in recent weeks.

After the pressures of the weekend, the two major virtual currencies, Bitcoin (BTC) and Atrium (ETH) traded some of their losses above $20,000 and $1,000, respectively.

After hitting a minimum of $17,772 on Sunday, Bitcoin rose nearly 9% to $2,010 on Monday. ETH fell to $898 on Sunday. It rose over 12 percent to $1,077.

The total value of the digital currency market has now reached $902.1 billion, which is a long way from the $3.1 trillion recorded at some point in October 2021.

After a record year for crypto trading, as Indian crypto exchanges were able to attract millions of buyers by the end of 2021, the volume has contracted since the first week of April after the government imposed a 30 percent tax on real assets.

Cryptocurrencies are now taxed in the same way as for business activities such as gambling and lotteries, placing digital assets in a higher tax range.

However, Mumbai-based investor Aliasgar Merchant believes the cryptocurrency market is a fuzzy currency that will soon disappear. However, he only invests in projects that he believes are worthwhile and will survive the bear phase.

I have absolutely avoided buying unnecessary boards with limited capabilities. Fast money is a big scam. As mentioned, there are also concerns for me. Terra's recent collapse is a sign that even luxury companies cannot survive in a shrinking market.

Be prepared to lose

Terra USD was the third most popular stable coin in early May with a market value of nearly $20 billion. The Chinese blockchain, or digital headquarters, has collapsed and investors in LUNA-related digital coins and currencies have seen billions of dollars of wealth disappear.

The merchant added that it will stick with its existing wallet and will also have the option to purchase new digital currencies at a discount.

“However, I am ready for my cryptocurrency to go red in the next two years,” he said.

Noel Saldana, an aftersales specialist at a leading OEM, says the recent prices of many cryptocurrencies are worrying, and he is relieved by historical data showing that digital currencies have grown well in the past.

This time, the reduction appears to be much more fundamental. Only time will tell how crypto space digests the fall of old crypto tokens, how time will show how crypto space digests the fall of old crypto tokens like Terra, and whether we have reached the price. † † † From a personal point of view, there seems to be no choice but to keep all these cryptocurrencies while being careful about more capital inflows.

keep wealth

India Kojwala, a network quality analyst at an advertising agency, says that during the bullish market of 2021, she realized that many of her friends and colleagues were attracted to digital currencies and that some investors were first drawn to them by friends and given experts. advice. Online on what Cryptos should be an investment.

It is very difficult for me to see the recent recession in the market. Especially when almost my entire collection has fallen by 80%. Of course, the downtrend worries me a lot, but my strategy is to keep my wealth as long as the downtrend continues.

One of the reasons I can do this is because I have invested only 30% of my wallet in digital currencies. I don't need the liquidity of my assets for my short-term needs. “However, if this trend continues and there are no crypto projects I have invested in, it will be a huge blow to my financial health.”

Gulbuddin Dahiwala, a lawyer and tax advisor, says that while tokens such as BTC, ETH, Solana (SOL), Ripple (XRP), and ATOM were attractive valuations for five-year investments, government transparency on tax regulation and devaluation is now needed by a new investor to achieve a high-quality return.

We need government transparency, at least for long-term investments. “If the government doesn't support taxes, investing in Indian cryptocurrencies, however likely, is unsustainable in the long run.”

"New investors are trying to encourage the government to invest in the assets under investigation," Dahiula said. "Even though I know there is good money to be made because my research is done."

"Very dangerous"

Adel MaoriMaori, a consumer goods retailer, says the value of digital currencies has fallen more than half from its highest price, only reinforcing its position that investing in digital assets is "highly risky" and should not be done unless someone has money. They want to do it.

“While I parked 10% of my investments in digital currencies, my wallet has shrunk by almost 99%. While this may not have had a major impact on my financial health, I would be more relaxed about doing my research thoroughly. “There are dozens of experts who provide advice on cryptocurrency investments online. I also invested after getting advice from online tutors.”

He adds that this slope has opened his eyes and the investor should conduct his research personally and not rely on outside factors.

"I made the most of the downturn this time around and I'm sure that since my research has been done, I don't have to worry about losing money in the next two years," Maori said.