Lots of bad news are coming but When I checked the fear & greed index then its score is 47 means it is neutral. This is a clear indication that more blood is there until it turns to fear. Currently, bitcoin holds a 25k level but I have doubt that it will break soon. Things are not good especially for the altcoins because the falling speed is high of altcoins. Hive is currently trading around 0.29. Bitcoin's bottom was around 15k and at that time altcoins had fallen like this again the situation is different for Bitcoin but not for the altcoins because the bitcoin price is 25k but altcoins are down compared to the bitcoin.
So this is a crazy situation. SEC said that we don't need crypto because we have US dollars. One thing always remember is that crypto is a threat to every government so if they get a chance to end crypto they will definitely do it. Because in the end crypto supports decentralization means no third-party role. Government and bank want their roles in crypto which is not possible so the situation is they can't ban crypto but at the same time, they want to earn taxes on crypto. They can't track all the activities and giving taxes only depended on the users. If they want to pay then they will do otherwise they can just simply use a decentralized exchange and wallet and no one will track their fund.
Regulation That Is Not In Favor Of Crypto Industry Growth
Another side, we are seeing news on regulations from different countries but that does not mean we have to feel happy about it because most of the government wants to apply rules like gambling. Gambling-type regulation is not healthy for cryptocurrency growth. Gambling-type regulations mean harsh tax rules and regulations. Recently, the Indian government applied a money laundering act on Indian crypto exchanges but the situation is that Indian crypto exchanges are about to die because of TDS and harsh rules. The industry can't grow when government applies harsh regulations.
Tax Rules Like Gambling
Government can collect the tax by applying fair tax rules. Considering crypto as gambling and applying tax rules like gambling is the worst thing and not beneficial for everyone. But if fair tax rules will be applied then every user understand the responsibility and participate in tax paying. So this is the only solution for the both government and the people otherwise it is not possible to stop the crypto revolution. And one more thing is that the US is not the world so the US or any country can't stop the crypto.
Stay safe and don't forget to share this post on different social media web 2.0 platforms.
Thank you, everyone.
Lucky Ali
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 | Hi I am lucky ali from gujarat, india. I am a crypto enthusiast, blogger, and SEO developer. I am always interested to learn new things and getting new experiences. You can find me on hive, twitter and discord (Lucky Ali#6343). Sharing is caring, Thank you hive family ♥ |