Crypto market update✍️
Good evening to all my friends. I hope you all are doing well. I am having a fantastic day. Sorry guys i couldn't update about market from last two days because i was traveling. Now i am free so let's talk about crypto market. Bitcoin is trading above 57.5k. German government is trying very hard to dump the crypto market but looks like market is very strong now. Why i am saying this because German government held more than 50k bitcoins and they sold more than half but still bitcoin trading above 55k which is very positive. Few minutes ago someone bought$2.5B worth of bitcoin 😱. Also all the institutions previously filed ETF application, updated their file again which is bullish for ETH. Let's see what happens in upcoming days.
Btw huge news coming out from India.
"Breaking: 🇮🇳Bharat Web3 Association Chairperson Dilip Chenoy has recommended the following policy reforms for Crypto taxation in India:
• Reduce the TDS rate from 1% to 0.01% to make transactions easier and prevent money from leaving the country.
• Allow losses from Crypto trades to be deducted from profits to make the tax system fairer.
• Change the flat 30% tax on Crypto income to match the tax rates of other types of income.
He further said that supportive tax policies could add $1.1 trillion to India's GDP by 2032"
If this happens then all the crypto users of india will be benefitted. Let's see how this government take view on this. That's it for today. Shared few important charts. Also sharing market update video. Thanks & have a good day!!