Crypto Twitter is celebrating its all-time high. Even a famous satirist asks how it works with Bitcoin.

On October 20, the time had come: The Bitcoin price broke the All Time High (ATH) that the cryptocurrency had set up on April 14 of this year. According to Coingecko , the Bitcoin rate reached the new, now provisional ATH at 5:07 p.m. on the same day: $ 67,118.89. The community celebrated and the moon trip was even discussed in the mainstream. How that sounded and what the expectations of the crypto space are now.

Satirist trolls the BTC community

The German entertainer, satirist, television, radio and podcast presenter, musician, author, film producer and journalist probably knows a lot about many things, but with regard to cryptocurrency he leaves open whether he has understood the protocol and ecosystem or is amused by it . With comments like “Do you have to have 1 Tesla to invest in Bitcoin? ich checks nich (sic!) ”he brings the oldest crypto currency into the mainstream at least.

Aber erstmal ganz basic: Wieviel Bitcoin bekommt man für 1000 Euro und wo?

— Jan Böhmermann 🦠🤨 (@janboehm) October 21, 2021

On the day and time of his post, he would not have received a full or half bitcoin for 1,000 euros, but rather around 1,881,622 million sats – but at least!

Elon Musk speaks up

How many BTC Elon Musk holds is not known. That he is a fan of coins with dogs in the logo, on the other hand, is. The 50-year-old South African has been particularly noticeable in the past for his proximity to the cryptocurrencies Doge Coin (DOGE), Shiba Inu (SHIBA) and Floki Inu. All three of these cryptocurrencies pumped up quite a bit on October 18th. Whether he is referring to the dog coins with the rabbit-like emoji (or is it a dog after all?) In his Twitter feed or rather the NFT announcement of Playboy remains open as always.

(\_/)
( •_•)
/ >🚀

— Elon Musk (@elonmusk) October 17, 2021

Bitcoin to the Moon

One person who is more likely to have comments associated with Bitcoin is Jack Dorsey. An hour before the ATH, he shared the moon emoji. Many other influencers: inside or crypto fans wrote similar statements like “Bitcoin to the moon”.

🌕

— jack⚡️ (@jack) October 20, 2021

By virtue of past years, however, it can be assumed that if a price shoots up as rapidly as the Bitcoin price did last week, then no solid ground has been established for this understanding of value. It is therefore normal, if not healthy, if we see a decline again in the coming days. Even so, one of the Winklevoss twins is certain that $ 66,000 is just the beginning of the Bitcoin journey.

66k. Bitcoin is just getting started.

— Tyler Winklevoss (@tyler) October 20, 2021

Even if these millionaires or billionaires are very optimistic about the Bitcoin rates of the future, one must not forget that it is still a volatile commodity, which can lose value just as quickly as it could rise . This was felt by some investors in the past week when the Bitcoin price suddenly fell to around 8,200 US dollars on platforms like Binance US.

In any case, influencers don’t have a crystal ball inside either to predict the future. Therefore: everyone: r should only make decisions at their own discretion.

FAQs

Questions & Answers about Bitcoin Projection
What is the Bitcoin price today?
The current price of Bitcoin is 61278.90 USD today.

Will Bitcoin price grow / rise / go up?
Yes. The Bitcoin price can go up from 61278.90 USD to 92800.00 USD in one year.

Is it profitable to invest in Bitcoin?
Yes. The long-term earning potential is +51.44% in one year.

Will Bitcoin price fall / drop?
No. See above.

What will Bitcoin be worth in five years (2026)?
The Bitcoin (BTC ) future price will be 216104 USD.

Will Bitcoin crash?
According to our analysis, this will not happen.

Shiba Inu is climbing from one record high to the next. This time, a crypto whale and speculation about a possible listing on Robinhood are likely to have driven the price higher.

With over 1.4 million followers on Twitter and almost 330,000 subscribers on Reddit , the Shiba-Inu project is one of the fastest growing crypto communities. Just a few days ago, Tesla boss Elon Musk drew the anger of this gigantic community when he announced on Twitter that he did not have any SHIB tokens. The price of the meme coin then crashed briefly, but SHIB has since recovered and even set a new all-time high.

Since Monday, October 25, the price of Siba Inu has climbed by over 60 percent. 31.95 percent of this enormous price increase took place in the last 24 hours. At press time, SHIB is trading at $ $0.00008152 . SHIB can currently be traded on Binance and Coinbase .

Is there a robinhood listing coming up?

An important factor that may have contributed to the fact that SHIB has risen so sharply in the last few days is due to the hopes for an imminent Robinhood listing. A petition on Change.org asking Robinhood to list Shiba Inu has now won over 332,500 supporters . The pressure on Robinhood is increasing. Just recently, Vladimir Tenev, the company’s CEO, announced that his team was “thinking carefully” about listing new coins.

We have a very good feeling about the coins that we currently offer on our platform. We want us to feel just as good, if not even better, with all newly listed coins.

If you consider that Coinbase listed Shiba Inu on its platform as early as June 2021 , then it seems even more likely that Robinhood will follow suit. The Coinbase listing also spurred the course of the Dogecoin offshoot at that time. For this reason, it is therefore quite possible that investors will speculate on an imminent listing this time as well.

Crypto whale buys 277 billion SHIB

In addition, on Monday an anonymous Shiba-Inu whale made sure that the SHIB rally really got going. Earlier this week, the major investor bought around 277 billion SHIB tokens for around $ 11.5 million. With the purchase, the anonymous investor brought his total inventory of SHIB tokens to 316.5 billion. These are currently worth just under $ 18 million.

At press time, Shiba Inu now comes to a market capitalization of $ 26 billion. This means that the Dogecoin offshoot is now larger than the Japanese automaker Nissan ($ 20.07 billion) and the South Korean technology company LG Electronics ($ 19.72 billion) .

SHIB Price Live Data

The live SHIBA INU price today is $0.000082 USD with a 24-hour trading volume of $47,069,340,479 USD. We update our SHIB to USD price in real-time. SHIBA INU is up 46.35% in the last 24 hours. The current CoinMarketCap ranking is #8, with a live market cap of $44,762,297,455 USD. It has a circulating supply of 549,095,509,738,353 SHIB coins and the max. supply is not available.

If you would like to know where to buy SHIBA INU, the top exchanges for trading in SHIBA INU are currently Binance, Mandala Exchange, OKEx, FTX, and Huobi Global. You can find others listed on our crypto exchanges page.

What Is SHIBA INU (SHIB)?

Once upon a time, there was a very special dog. That dog was a shiba inu, and this dog inspired millions of people around the world to invest money into tokens with the dog’s image on it.

According to the SHIBA INU website, SHIB is the “DOGECOIN KILLER” and will be listed on their own ShibaSwap, a decentralized exchange.

Shiba Inu coin was created anonymously in August 2020 under the pseudonym “Ryoshi.” The meme coin quickly gained speed and value as a community of investors was drawn in by the cute charm of the coin paired with headlines and Tweets from personalities like Elon Musk and Vitalik Buterin.

Shiba Inu aimed to be the Ethereum-based counterpart to Dogecoin’s Srypt-based mining algorithm. Shiba Inu and the SHIB token are part of a swarm of dog-themed cryptocurrencies, including Baby Dogecoin (BabyDoge), Dogecoin (DOGE), JINDO INU (JIND), Alaska Inu (LAS), and Alaskan Malamute Token (LASM). These lesser-valued tokens have attracted investors who missed the Dogecoin pump from 0.0002 to nearly 0.75 USD.

On Sept. 17, 2021, Coinbase, the largest US-based crypto exchange, listed Shiba Inu on their platform. This news caused Shiba Inu price to rise by over 40% in the following two days, bringing the meme dog token into the spotlight again.

Who Are the Founders of SHIBA INU?

The SHIBA INU WoofPaper has three reasons why their team created SHIB:

1. “We started from zero, with zero.”
2. “The brilliant minds behind Shib had never collaborated before.”
3. “We love Shiba Inu Dogs.”

The anonymous creator of the Shiba Inu coin is known as “Ryoshi.” However, very little is known of the mystery founder of the dog-themed cryptocurrency, much like the founder of Bitcoin, Satoshi Nakamoto.

What Makes SHIBA INU Unique?

The SHIBA INU website invites dog-inspired artists from all over the world to foster the “artistic Shiba movement” as they bring their SHIBA INU community into the NFT market.

SHIBA INU has also created a campaign using Amazon Smile in order to collect donations for rescue real, live Shiba Inu dogs with the Shiba Inu Rescue Association.

After a long wait, Bitcoin ETFs are now also conquering the USA. You can follow developments overseas live in our news ticker.

You can try it. This is probably what Valkyrie and Direxion thought, who each filed a slightly more daring Bitcoin ETF with the United States Securities and Exchange Commission (SEC) last week.

Valkyrie’s application was for a leveraged futures ETF with the ticker symbol BTFX. With this, a 1.25-fold exposure to the Bitcoin reference rate should be offered. It also allegedly contained Bitcoin futures, swaps, options and futures.
The second application came from Direxion and was named Direxion Bitcoin Strategy Bear ETF. According to Bloomberg analyst Eric Balchunas, this was an inverse future Bitcoin ETF product. That would have meant that, unlike ‘traditional’ ETFs, the inclusion and profit or loss would have been made in the base currency. For this product that means; on Bitcoin and not, as usual, on USD.

Looks like the SEC not having it w the levered (and likely inverse) Bitcoin futures ETFs. Can’t hurt to try tho. Had they gone through likely billion dollar trading vehicles in a few yrs. via Dow Jones pic.twitter.com/MspMRf3hL9

— Eric Balchunas (@EricBalchunas) October 27, 2021

As Balchunas writes, it now appears that the SEC has so far only been interested in direct futures products and not in more exotic ones. It can therefore be assumed that these are the two products that have now been rejected by the SEC. Direxion’s warning beforehand did nothing to change that. It read: “The value of an investment in your [own] fund could drop significantly to zero without warning. You should be ready to lose all of your investment ”

After a significant price increase to a new all-time high on Wednesday, October 20, the crypto reserve currency corrected back below USD 60,000 in the last few days of trading. Dominance also has to give up.

Bitcoin (BTC): Corrective move could lead BTC to $ 55,817

BTC rate : 59,182 USD (previous week: 65,972 USD)

Resistances / Targets: $ 59,470, $ 61,771, $ 64,896, $ 67,000, $ 67,416, $ 69,660, $ 70,856, $ 76,472, $ 77,678, $ 85,563, $ 87,090, $ 89,982, $ 100,259, $ 114,961

Supports: USD 57,998, USD 55,817, USD 54,077, USD 53,005, USD 51,307, USD 50,325, USD 49,555, USD 48,222, USD 47,070, USD 45,292, USD 42,855, USD 40,585, USD 39,240,

Price analysis based on the value pair  BTC / USD on Coinbase

The crypto market can look back on an eventful week. Bitcoin hit a new all-time high of USD 66,999 last Wednesday, October 20, before increased profit-taking began in the following days. As mentioned in the last analysis, the bulls failed to stabilize the price above the previous all-time high of USD 64,896. The hoped-for positive effect of the introduction of the first two Bitcoin futures ETFs in the USA seems to have vanished for the time being. Starting from the new high, the key crypto currency lost around 13 percent of its value.

Another reason for today’s price correction up to the support at USD 57,998 could be the settlement of the Bitcoin futures next Friday. The open interest, ie the amount of open “bets” on the future price development, is also at an all-time high. In particular, the number of futures traded on the US futures exchange CME increased significantly. This development is primarily due to the launch of ETFs. However, as long as Bitcoin can stabilize above USD 55,817, the current corrective movement for the bulls can still be assessed as unproblematic.

Bullish scenario (Bitcoin price)

The Bitcoin course has clearly had to give up in the last few days. On Wednesday, Bitcoin fell to the first relevant support at USD 57,988, but can currently fight its way back above USD 59,000. As long as the Bitcoin bulls can keep the rate of the crypto key currency above USD 55,817 per day’s closing price and also recapture the resistance at USD 59,470 and USD 61,771, another attack towards USD 64,896 should be planned in the short term. If the buyer succeeds in breaking this resistance, the all-time high of USD 67,000 will come back into focus. If a new high can subsequently be reached and the 138 Fibonacci extension at USD 67,416 can be broken, a direct attack on USD 69,660 and the resistance at USD 70,856 can be expected.

The 161 Fibonacci extension at USD 70,856 is to be seen in the short term as the maximum price target for the coming trading week. If the BTC price does not rebound dynamically to the south here, a subsequent increase up to the target range of this trend movement between USD 76,472 and USD 77,678 is likely. If investor sentiment remains bullish until the end of the year, Bitcoin could penetrate into the higher-level target zone between USD 87,090 and USD 89,982. In perspective, Bitcoin could also march through to the 361 Fibonacci extension at USD 100,259. Although increased profit-taking is to be expected in the area of ​​this milestone, the chance of reaching the medium-term target price of 114,961 USD (461 Fibonacci extension) would still be good.

Bearish scenario (Bitcoin price)

The bears used the last straw and countered the bull outbreak with a significant sell-off. Now the seller side must do everything possible to stabilize the Bitcoin price below the resistance at USD 64,896. A first important step in this direction was successfully taken with today’s sell-off back to support at USD 57,998. Now it is important to keep the BTC rate below its EMA20 (red) at USD 59,031 at the daily closing rate. The fact that the MACD indicator has now generated a sell signal plays into the hands of the seller. If the support at USD 57,998 is pulverized, an initial directional decision will be made in the USD 55,817 area.

Here the supertrend runs in the daily chart, a strong support. If Bitcoin breaches this support level at the daily closing price under sustained selling pressure, this would be another bearish indicator. Then the orange support area between USD 54,077 and USD 53,005 moves into the focus of investors. The EMA50 (orange) is currently also running in this zone. The cops will have to prove their purchasing power here. If, on the other hand, the Bitcoin price does not stabilize in this support zone, the correction extends to at least USD 49,555.

Directional decision threatens

A relapse to $ 48,222 is more likely. A directional decision can be expected in the coming months. If Bitcoin falls back below this strong support level, the chart for the bulls deteriorates significantly. If the support at USD 47,070 is then dynamically undershot, the cross support from MA200 (green) and EMA200 (blue) is retested at USD 45,292. If the bulls do not come back on the floor here either, a correction widening to USD 42,855 or even USD 40,585 is likely. The bears will then do everything in their power to undercut USD 40,585 and target the historical low of USD 39,240. Currently, the 39.240 level represents the maximum bearish price target for the coming trading months. As long as the key support at 48.

Bitcoin dominance: Correction after a 15 percent increase in dominance

Bitcoin dominance on the basis of values of  Cryptocap  shown

After 14 days of the increase in Bitcoin dominance to a new high of 47.75 percentage points, the BTC dominance corrected back to the cross-support from Supertrend and EMA50 (orange) at 44.25 percent. As a result, the market dominance of the crypto reserve currency did not succeed in overcoming the EMA200 (blue) for the time being. Bitcoin’s price correction also consolidated its market dominance and resulted in significantly higher prices for many altcoins.

BTC Dominance: Bullish Scenario

The correction of the last few days of trading led the BTC dominance to the important support in the range between 44.54 percent and 44.25 percentage points. The dominance is currently stabilizing slightly, but is again within the red box at 44.85 percent. Bitcoin dominance is thus again valued below its moving average lines MA200 (green) and EMA20 (red). Only when these two resistance lines are recaptured and in particular the daily high at 45.71 percent is recaptured, a new attack in the direction of 47.07 percent should be planned. As already mentioned in the previous week’s analysis, a sustainable stabilization above the 47.07 percent is required. If the BTC dominance breaks this price mark and thus rises sustainably above the EMA200 (blue), the zone moves into focus by 48.29 percent.

If this resist is also broken through dynamically, a march through to the orange resistance zone must be planned. The increase target between 48.67 percent and 49.26 percent will initially continue to function as the target for the current trend movement. If it is also possible to sustainably regain the high of July 30, 2021 in the coming weeks, the market dominance should target the range between 50.00 percent and 50.97 percent. Another bearish countermovement is to be planned here. If the Bitcoin price can continue to rise by the end of the year and rise towards USD 70,000 and above, a march into the gray resistance area between 52.19 percent and 53.16 percent is also conceivable.

BTC Dominance: Bearish Scenario

After reaching the EMA200, the BTC dominance showed the presumed corrective countermovement at 47.07 percent. At its peak, the dominance of Bitcoins corrected eight percentage points back to the key support from Supertrend and EMA50. The market dominance fell significantly, but can stabilize in the red box for the time being. Should the BTC dominance fall below the support at 44.25 percent at the daily closing price, the consolidation should expand to 44.00 percent or even below. If the BTC dominance subsequently slips back below the red support zone, a relapse of up to 42.45 percent should be planned.

If there is no reversal to the north here either and both supports are abandoned at the daily closing rate, the monthly low of 41.13 percentage points will once again be in the focus of investors. Here the Bitcoin bulls have to prove themselves in order not to have the BTC dominance corrected again towards 40.66 percent. Then the probability of retesting the area increases significantly by 40 percent. A renewed start to the annual low of 39.66 percent must also be considered. However, as long as the BTC dominance can stabilize above 42.45 percent, a relapse back to the annual low is not to be expected.  

Bitcoin Predictions by Industry Experts

Bitcoin should reach $500,000 by 2030.Jeremy Liew – A partner at Lightspeed Venture Partners

Bitcoin’s market cap is expected to surpass gold’s then market cap which was $7.5 trillion.Mike Novogratz – A former hedge fund manager & crypto enthusiast

Bitcoin shall reach $1,000,000 in five to ten years times which means no sooner than 2022 but as delayed as 2027.Wences Casares – CEO & founder of Xapo

Bitcoin will reach $1,00,000 in the next 3 – 4 years and for the long run will reach the mark of $1 million in or by 2037.Chamath Palihapitiya – Co-owner of Golden State Warriors & founder of Social Capital

Bitcoin will continue to be appreciated by investors.Bloomberg’s Crypto Galaxy Index (BGCI) report

Bitcoin shall soar to $3,00,000 per bitcoin in the next five years.Adam Back – A cryptographer & crypto pioneer

The adoption of bitcoin by institutional investors has only begun, while for gold its adoption by institutional investors is very advanced. If this medium to longer-term thesis proves right, the price of gold would suffer from a structural flow headwind over the coming years.JPMorgan

Bitcoin Price Prediction 2021

According to TradingBeasts’ BTC price prediction, is likely to cross $70,797 by the end of 2021. Bitcoin will trade in the range of $48,000-$56,000 with the minimum & maximum BTC price respectively in the year 2021. As per the above chart, the technical indicators of the king of cryptocurrency also reflect the possibility of continual bullish rally. Moreover, The Bitcoin price surged more than 4% over the last 24 hours to hit a new all-time high of $62,839 ahead of Coinbase debut, as Coinbase is set to go public by April 14 and could be valued at as much as $100 billion.

Bitcoin Forecast for 2022 – 2023

Bitcoin price forecast for the year 2022 is predicted at $87,500 by TradingBeasts, given all other factors being stable and no emergency scenario will change. Bitcoin price is likely to trade around $60,000 and $70,000 for a minimum price and maximum price respectively in the year 2022.

As per our Bitcoin price prediction for 2023, BTC price will cross the bar of $96,000; and hold the market with a steady position. The lowest Bitcoin price will be around $65,000 and highest price will be above $82,000 in the year 2023.

Bitcoin Price Prediction for 2024

Bitcoin might start the year 2024 with an average price of $104,000; Bitcoin can trade around the price of $100,000 by the end of 2024. Bitcoin could trade with a min. price of $70,000 and a max. of $100,000 in 2024.

Bitcoin Prediction for 2025

Bitcoin price prediction 2025 seems to be the year of the bull with Bitcoin at an all-time high of $100,000, to as much as $400,000. It could be the year of Bitcoin.

It is very much likely that Bitcoin will double in price, but it is also possible it may not. This is merely for the reason that it is not supported by any specific regulatory authority or regime. Some could have made thousands of dollars in Bitcoin after an early $100 investment, but when the recent charts started to look a lot like a stock market bubble, many probably took their money and ran.

Disclaimer: The price estimates presented on this page do not constitute buy or sell recommendations. They are only an assessment of the analyst.

What part do cryptocurrencies have in the eventual rise of Elon Musk to become the world’s first billionaire?

Can Tesla CEO Elon Musk become the world’s first billionaire? His current Forbes net worth is $ 219.9 billion. So far he has not even come a quarter of the way. Why the missing capital could be raised mainly by the musky space company SpaceX and how important the billionaire’s crypto possessions could be on his way to becoming a billionaire.

Breakdown of current assets

A study that is causing a stir these days comes from Morgan Stanley analyst Adam Jonas. He is known for his highly positive comments about Elon Musk’s business. Jonas writes in the study, the news agency Bloomberg is present that Musk owns about half of the shares in SpaceX itself. So far, these would only make up around 20 percent of his total assets. The space company was recently valued at $ 100 billion. According to the analyst, this is far too low an estimate: 200 billion are currently more appropriate. In addition, with its wide range of products, the company would have great prerequisites for becoming a very successful company in the future – and by the way, Musk could become mankind’s first billionaire.

He has been proving for years that Musk has a knack for successful companies. Currently mainly with his electric car company Tesla. This has just cracked the $ 1 trillion mark in market capitalization. With Tesla, Musk recently overtook Facebook, which is increasingly criticized. According to estimates, Musk holds around 22 percent of Tesla. Nevertheless, these shares make up almost 90 percent of his total assets so far.

Must Read: Elon Musk attracts the ire of the “Shiba Army”

Influence of cryptocurrencies

In addition, Elon Musk says he bought Bitcoin (BTC), Ethereum (ETH) and Dogecoin (DOGE) out of “interest”.

Out of curiosity, I acquired some ascii hash strings called “Bitcoin, Ethereum & Doge”. That’s it.

As I’ve said before, don’t bet the farm on crypto! True value is building products & providing services to your fellow human beings, not money in any form.

— Elon Musk (@elonmusk) October 24, 2021

However, how many BTC, ETH and DOGE he owns is unknown. Tesla’s Bitcoin fortune, on the other hand, is estimated at around 42,000 Bitcoin. If 20 percent of his Musks owned, he would own roughly 8,400 Bitcoin. At a current rate of US $ 62,825.70 per Bitcoin, this results in a total of over US $ 527 million. For mere mortals, that’s gigantic sums, for Musk not even one percent compared to his remaining wealth.

More often there are rumors that Elon Musk is one of the greatest DOGE hodlers in the world. If that is actually the case – and Musk is the owner of the DOGE wallet address  DH5yaieqoZN36fDVciNyRueRGvGLR3mr7L  – then Musk’s DOGE holdings would be worth just over 10 billion US dollars. That’s almost $ 8.5 billion more than Musk (indirectly) holds in Bitcoin – but not even 5 percent compared to his other assets.

How much ETH the richest man in the world has in his pockets is completely unknown. However, with the current ETH rate at $ 4,210.10, Musk would have to own over 2.6 million ETH that they could make up even five percent of his fortune – unlikely, if possible.

Conclusion

In relation to what normal citizens have in cryptocurrencies on Planet Earth, the assumption can be made that Musk is probably holding a few more coins. Together with his company shares in Tesla and SpaceX, which is currently far too low, his BTC, DOGE and ETH could bring him the title of world’s first billionaire in the next few years. How large the share of crypto tokens will be at this premiere can only be guessed without precise knowledge of his personal holdings – at the same time, the growing prices of the current “Uptober” are also playing into the cards of the Tesla boss.

Take Bitcoin profits tax-free? That works, says Taxfix tax expert Juliane Kutzke. But many a crypto tax privilege could soon be a thing of the past.

We talked to Juliane about the upcoming deadline for the tax return, exemption limits, taxes on lending and no longer privileges in the crypto sector.

City Telegraph Editorial Team: When is the deadline for the tax return?

Juliane Kutzke, DE Tax Lead at Taxfix : This year it’s October 31st. It would normally be July 31st. However, it was extended due to Corona. In addition, if a deadline falls on a weekend, as is the case now in this case, i.e. Saturday, Sunday or public holiday, then the deadline is postponed to the next working day. Therefore this year the deadline is Monday, November 1st. This in turn is a public holiday in some federal states, for example in Bavaria and North Rhine-Westphalia. This is why taxpayers who are resident in these federal states can still submit their tax return on time until November 2nd.

BTC-ECHO: Where should I enter Bitcoin profits in the tax return? Is there a distinction between Bitcoin and other crypto values?

Juliane Kutzke : It doesn’t make any difference. Everything is more or less the same with cryptocurrency. According to tax law, cryptocurrencies are all “other economic goods”. The sale of these “other assets” represents a so-called “private sale transaction”. If these are taxable, then they are “other income” and therefore they are included in Annex SO (other income). In this they are entered under the “private sales transactions”.

City Telegraph Editorial Team : That sounds complicated.

Juliane Kutzke : That’s why the Taxfix has solved it differently: We ask the questions about profits in the “Income” category, where one would intuitively expect such items and then automatically enter them for our users in the correct form. In the Taxfix app there are questions like: When did you buy the coins? When is it sold? How much paid How much did you get This is then automatically calculated and entered. 

Read: Bitcoin crashes to $ 8,200 – what was going on, Binance?

Read: Litecoin Price Predictions: Can A Bitcoin Boom Bring LTC To New Records?

City Telegraph Editorial Team : What tax burden can you expect if you have made a profit with Bitcoin? Can that be said across the board or is it different? 

Juliane Kutzke : Unfortunately, that cannot be said in general terms . This is always the case with taxes because the tax rate in Germany is linearly progressive. Graphically speaking, the tax rate rises at an angle. That means: the higher the income, the steeper the slope. As a result, it comes down to total income, not just income from Bitcoin deals. Because the tax rate is always based on the taxable income (zvE). This in turn is calculated from all income minus all expenses. 
For the sake of clarity, I’ve come up with an example: In this, the taxable income is 25,000 euros and there is a profit of 2,000 euros from Bitcoin transactions. The tax only on the 25,000 euros income would be around 3,714 euros in 2020. If you add the 2,000 euros from the Bitcoin transactions, the result is a tax of 4,290.00 euros. Thus, the difference between income with and without Bitcoin profits is 576.00 euros. Now you might think that this is the tax on Bitcoin. However, due to the fact that the basis is the zvE, one cannot say that. If the zvE were lower, the difference between the two taxes would be smaller. The same applies if the zvE were higher, the difference would also be higher. Therefore, it is absolutely impossible to make a general statement about the tax burden. It always depends on the personal situation: on all income and all expenses that you have.
This can also be calculated free of charge with Taxfix.

Also Read: Here’s Why XRP Cryptocurrency Price To Rise To $ 15 Very Soon

“If all profits from all private sales transactions amount to a maximum of 599.99 euros, they are tax-free”

City Telegraph Editorial Team : Is there a way to sell Bitcoin and make a profit without paying any taxes? 

Juliane Kutzke : Yes, there are. There is a so-called speculation period in private sales transactions. For other assets this is one year. For land, for example, it is ten years. For cryptocurrencies, this means that the profit is tax-free, provided that the digital coins are held for at least one year and only then sold. If you sell them in between or before that, the business is taxable.
In addition, there is an exemption limit: If all profits from all private sales transactions are less than 600.00 euros, i.e. a maximum of 599.99 euros, then they are tax-free.

City Telegraph Editorial Team : Lending is a current topic. This means that I can lend Bitcoin or other cryptocurrencies to a platform and receive interest for it. How are these taxed? We are particularly interested in the theoretical case, in which I simply “leave it behind”, generate interest in Bitcoin and never pay out in a fiat currency. Do I have to pay tax on them? 

Juliane Kutzke: Yes, you have to pay taxes on that too. Because this is also very likely income. I have to say in advance that, in my opinion, crypto currencies and Co. are new territory for the German tax authorities. In June the Federal Ministry of Finance presented a draft of possible legal regulations. In this the ministry expresses itself on a great many things. For example, they declare lending to be a benefit in the report. As a result, the interest income from this would be allocated to “other income from services” in the future. The reason is that you let others use it and get something back in return. In the draft, the Federal Ministry of Finance speaks of a possible tax-free amount in this case as well. The limit to tax liability would be 255.99 euros.

Bitcoin holding period could be extended to ten years

City Telegraph Editorial Team: Are there any other important findings from the report?

Juliane Kutzke : In the draft, the ministry also writes an important change for everyone : n those interested in lending: n exciting change: in the case of the use of lending, the owner would: in the above-mentioned one-year speculation period on Bitcoin and Co . extend. Since the coins are then used to generate “other income”, the period is then extended from one year to ten years until tax exemption. 

According to the draft, lending would be a source of income.

Juliane Kutzke

City Telegraph Editorial Team: I still have to chop it up again: Does the extension apply according to the draft, only for lending activities or generally for the Bitcoin holding period?

Juliane Kutzke : The Bitcoin holding period could therefore generally be extended if Bitcoin or other virtual currencies are used as a source of income. And according to the draft, lending would be a source of income. So if you use the cryptocurrencies to generate income in whatever way, then it extends. In the event that the digital coins are really only lying around on the wallet, the deadline is not extended. 

City Telegraph Editorial Team: And is that so easy to enter at Taxfix? True to the motto: I invested this bitcoin at the time and received so much bitcoin as interest and you then calculate the tax for lending for me? 

Juliane Kutzke : It’s not quite that intuitive yet. In our system, lending is not yet explicitly mentioned or queried as a category. However, it can be recorded under other income as other services. We are also looking at how we can make this more understandable for users in the future

Coinbase CEO Armstrong shows support for Ripple amid the battle with the SEC, fueling speculation about a possible XRP relisting.

Coinbase CEO Brian Armstrong has clearly sided with the crypto fintech in the dispute between Ripple and the US Securities and Exchange Commission. In a number of recent tweets , Armstrong wrote that the company’s case appeared to be “going better than expected.” Armstrong emphasized that it was “politically undesirable” to launch attacks on the crypto industry and thus also the. Affecting investors. The head of the largest American stock exchange also takes up Ripple’s argument that the SEC harms consumers rather than protecting them:

The irony is that the people they [the SEC, ed. Red.] Supposedly protect, are those who attack them.

Well: That Brian Armstrong, as head of one of the largest crypto exchanges, jumps into the breach for the crypto company, is not surprising. However, it has Coinbase even after the disputes with the SEC trading Ripples XRP token exposed . After his tweets, there is now speculation about whether Coinbase will soon list XRP again. 

Will Coinbase list XRP again anytime soon?

Recently, rumors of a renewed XRP listing by Coinbase have been making the rounds on social media. Last month, XRP trading pairs actually appeared in the Coinbase app. However, this was apparently a bug:

As previously announced, Coinbase has suspended trading in XRP. Due to a technical problem, XRP was temporarily visible on the Coinbase Pro mobile app for some customers, but could not be traded.

, the company clarified a little later on Twitter . Despite the legal problems, XRP has not let itself get down. Ripple CEO Brad Garlinghouse recently criticized the US Securities and Exchange Commission with clear words . Meanwhile , crypto mogul Mike Novogratz noted that the value of the cryptocurrency has tripled since the agency filed its lawsuit:

XRP Didn’t Crash This is proof that communities once formed with common interests are darn resilient

Mike Novogratz on Twitter

, that’s his statement . 

After many Kryto exchanges initially took an example from Coinbase and in turn suspended trading with XRP, Ripple has recently been able to gain more and more new business partners. The transfer service provider GME Remittance is a current example of this. Be that as it may, Armstrong and Garlinghouse seem to agree that the 1930s laws that the SEC continually invokes are not conducive to the “technological revolution.”

XRP Price Prediction 2021 to 2022

If you’re looking to buy XRP right now and require some information on the coin’s outlook, then look no further. Found below is a breakdown of our XRP price prediction for the months to come, incorporating technical, fundamental, and news-based analysis to ensure an appropriate XRP forecast.

One Month – Strong bullish momentum for XRP began in July and has continued into August. Our XRP projections expect XRP to reach the $1.60 level within the next month.

Three Months – Expect to see some consolidation between the $1.60 and $1.70 levels, as there does appear to be some strong resistance in this area. However, if the momentum continues, we can expect XRP to head towards the highs of $1.95 within the next three months.

Start of 2022 – Our XRP prediction for the beginning of 2022 sees the coin break past the highs of April 2021 and head to the $2.2 level. After this, we can expect XRP to continue heading upwards throughout 2022 and return to the all-time highs of January 2018