NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing

Bitcoin (BTC) Reject Lower Prices, IRS To Clarify On Basic Tax Issues

Dalmas Ngetich
Dalmas Ngetich
1 year ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

  • BTC bulls absorbing sell shocks
  • IRS to clarify emerging concerns in their next update probably in Q3 2019

The IRS is set to issue another crypto tax guideline at a tentative time this year after five years of silence. That will better clarify their position as they address pressing queries around crypto valuation, forks, and Air Drops. Meanwhile, BTC is on a recovery path, adding 2.4 percent in 24 hours.

Bitcoin Price Analysis

Fundamentals

Paying taxes is an obligation. It is mandatory and is a way of enabling governments to deliver better services. During this tax season, the US Internal Revenue Service (IRS) is doing everything they can to simplify the process of filing tax returns.

Since their last issue in 2014, there have been intervening questions that demand consultations. Note that the space is under constant evolution. In five years ICOs have sprung up, blockchains are splitting, and there are Air Drops to spur participation.

How these assets, classified as property by IRS, are valued and consequently taxed are pain points demanding timely solutions. Accordingly, the IRS is rising to the occasion and hopefully before the end of this tax season, around mid-October, they plan to update the crypto community on their latest deliberations.

In a letter to Rep. Tom Emmer, IRS Commissioner Charles P. Rettig said the new update would among other things clarify the position of the agency on sticky concerns like forks, Air Drops and proper valuation of crypto assets.

“I share your belief that taxpayers deserve clarity on basic issues related to the taxation of virtual currency transactions and have made it a priority of the IRS to issue guidance.”

Candlestick Arrangements

Bitcoin BTC

At the time of writing, Bitcoin (BTC) is kicking back. It is absorbing sell pressure, adding 3.6 percent in the last day. All the same that is not an endorsement of bulls. From the chart, BTC is ranging against the USD, down 4.4 percent in the last week.

If anything, BTC is under pressure. However, as long as prices are trending above $7,500 in line with previous BTC/USD trade plan, bulls have a chance. If not, prices could end up tumbling to $6,600 or lower in a correction that could hurt holders.

Currently, the oscillation inside the $1,000 trade range is an opportunity for aggressive traders to ramp up while targeting $8,500. On the other hand, conservative traders waiting for crystal signals should be on the sidelines until after there is a satisfactory close above $8,500 or even $9,100 marking May high.

Technical Indicator

Like before, unless otherwise there is an upsurge, breaking free from this $1,000 trade range with caps at $8,500, trading volumes of May 30th will anchor this trade plan. At 31k, the candlestick is also broad. Breakouts above $8,500 or below $7,500 should be with high participation exceeding 31k or 47k of May 17th.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

Tweet123Share212ShareSend
Dalmas Ngetich
Dalmas Ngetich

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

Read more

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.

Close

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin Retail Demand Rebounds – $0–$10K Transfer Volume Turns Positive

Bitcoin Retail Demand Rebounds – $0–$10K Transfer Volume Turns Positive

Bitcoin volatility is back on the rise after a dramatic week of price action. On Monday, BTC surged to a...

Sebastian Villafuerte 2 hours ago
Altcoin season start doordat Ethereum boven presteert en Bitcoin dominantie daalt

Altcoin season start doordat Ethereum boven presteert en Bitcoin dominantie daalt

De cryptomarkt staat er goed voor de komende tijd. Een heuse altcoin season ligt op de loer, terwijl Bitcoin dominantie...

Lars Diederiksen 2 hours ago
Uniswap COO Exits After $73B Surge — What It Signals for DeFi and Best Presales.

Uniswap’s $73B Growth Fuels Optimism for DeFi and the Best Presales After Leadership Change

Mary-Catherine Lader just stepped down as President and COO of Uniswap Labs after a four-year run that transformed the platform...

Aaron Walker 3 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

MicroStrategy

Beyond MicroStrategy: Top 10 Crypto Treasury Stocks to Monitor

PR Desk 55 minutes ago
Ethereum

Ethereum Rips Through Thin Zone: A Loud Move After Weeks of Silence

Godspower Owie 1 hour ago

How a Single Burn Sparked a Frenzy: $FUN Skyrockets Towards 500% After 25 Million Tokens Burn

NewsBTC 1 hour ago

Premium Sponsors

Press Releases

  • 2 криптовалути с небесни оценки...

    2 hours ago
  • 仮想通貨プレセール|ビットコイン向け最速かつ唯一の本格レイヤー2が300万ドル突破

    ...

    2 hours ago
  • 仮想通貨おすすめ|高騰中の評価額がリスクに見合うかもしれない3つの暗号資産

    ...

    2 hours ago
  • 新しい仮想通貨|ビットコインの強気相場に乗るための注目トークン

    ...

    3 hours ago
  • ビットコインの上昇と規制強化を受けて今注目のアルトコイン

    ...

    3 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.