Over $200 billion wiped off cryptocurrency market in a day!!

[babu10]

Bitcoin and other digital currencies plunged on Friday as a proposed capital gains tax hike from U.S. President Joe Biden led to a wave of selling.

At around 9.30 a.m., BTC was down 7.6% in the last 24 hours at $49,000, according to coin metrics data. It's the first time BTC has traded below $50k since early March. Ether fell to $2255 donw 10.7% and XRP plunged to 16%.

President Biden is expected to raise long-term capital gains tax for the wealthiest Americans to 43.4% including a surtax. That would be higher than the top federal tax rate on wage income. The new tax rate would apply to returns on assets held in taxable accounts and sold after more than a year. For more please visit the source........