Biden’s capital gains tax plan to pull crypto down to earth from the moon?

[sirty143]

There are often multiple causes for an asset’s sharp decline, but Bitcoin’s (BTC) 10% “nosedive,” which took place on April 22, may be blamed on the Biden Administration’s reported plan to tax capital gains at double the current rate on... See more for yourself here.

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[mohdelayo]

Double tax on capital gains? Oh no that's huge enough to make the market take a nosedive. I want to believe that Biden's administration will be more friendlier to Bitcoin and cryptocurrencies as compared to the previous administration. Besides we can already see it as the recent run started with the ousting of the previous administration which i believe was not any friendly with the technology and contributed to the bear market that lasted several years.