Profit

On May 4th, Bitcoin declined slightly from the previous day, recording around $8,700 at various exchanges including Upbit, Binance, BitMEX and Bithumb. Nevertheless, it is relatively stable these days with only insignificant fluctuations.

As the price of Bitcoin trading plummeted by 50% overnight, there are opinions among investors that the cryptocurrency market needs to introduce a circuit breaker system like the stock market.

Recently, it was discovered that a digital currency scam called the "Bitcoin Era" goes on to attract many targets with new techniques, including the use of the names of Tesla founder Elon Musk and Hollywood star Daniel Craig, according to Business Insider.

Some tax experts in South Korea suggested that they first adopt low-level transaction taxes for the practical application of cryptocurrency taxation, and then gradually switch to applying capital gains tax. In the absence of a cryptocurrency-related bill, it is difficult to track all of the trading profits of investors, so it is reasonable to initially introduce a trading tax that proves only the existence of a transaction.

Today, the bears continue their selling pressure as the market reaches the breakout level of $360. Before this time, short term traders must have booked their profits as the market reached its peak price of $497.

The outbreak of the new coronavirus in China has halted economic activities in the mainland which is the key producer of Bitcoin mining Hardware. As fewer mining machines are added to mine Bitcoin, the difficulty algorithm is relaxed as the competition between miners reduces. The Universal hashing power towards the Bitcoin network is somewhat constant.

Just like any other business, Bitcoin and digital currency trading needs, skill, providence, and first-rate timing if you want to make a good profit. Auspiciously, a good number of means than ever before have been developed to help traders understanding the existing market conditions and generate profits from price trends which other, semi-skilled merchants might fail to benefit from on.

In the last 24 hours, Ethereum turned down from the $173 resistance and failed to push the price to a high of $180 or $200. Unavoidably, the range-bound movement will continue between $157 and $173. Presently, Ether is falling from a high of $178. It may commence a downward move to the low of $160 where it bounced three days ago.

The sellers are at the bottom of the chart as Ripple fluctuates at $0.22 and $0.23. Ripple may commence consolidation if the price at $0.23 holds