Features News Daily TheBitTimes.com

Earlier in 2024, there was a significant backlash to President Biden’s proposed tax plan, which would see capital gains taxes rise to their highest levels in 100 years, unrealized gains become taxable for some individuals, and corporate taxes see a substantial uptick. Despite the passage of nearly five months and the changing of the Democratic Party candidate from Biden to Vice President Kamala Harris, the debate has not subsided and has, in several ways, only grown more intense. Indeed, Harris historically endorsing measures deemed even more radical than the current President’s and her recent comments on price controls seeing her labeled a ‘communist’ have only stepped up the pressure on the campaign. Picks for you AI predicts Cardano price for ‘Chang Hard Fork’ upgrade 29 mins ago ...

Paul Tudor Jones expects a recession in the first quarter of 2024. He also expects the Israel-Palestine war to make stocks less attractive. Bitcoin has a history of doing well in the midst of political uncertainty. Bitcoin is still down 13% versus its year-to-date high but Paul Tudor Jones remains bullish as ever on the world’s largest cryptocurrency. Paul Tudor Jones expects BTC to do well in a recession The billionaire hedge fund manager is constructive on Bitcoin primarily because he sees a recession ahead. The Founder of Tudor Investment also expects the Israel-Palestine war to make Stocks less attractive. Ongoing conflict in the Middle East has already claimed close to 2,000 lives. According to Paul Tudor Jones: I think Bitcoin and Gold take on a larger percentage of your portfolio than historically they would because of a challenging political time in the U.S. and geopolitical situation. Bitcoin has a history of performing well in the midst...

Rising interest rates, delayed Bitcoin ETFs, global financial turmoil and other regulatory pressures are contributing to the crypto market's underperformance. The crypto currency market has experienced a notable downturn recently, with the total market capitalization falling by 10% between August 14 and August 23, reaching its lowest point in over two months at $1.04 trillion. This movement has triggered significant liquidations on futures contracts, the largest since the FTX collapse in November 2022.  Total cryptocurrency market capitalization, USD. Source: TradingView Several economic factors have contributed to this decline. As interest rates have surpassed the 5% mark and inflation remains above the targeted 2%, finance costs for both families and businesses have risen, placing pressure on consumer spending and economic expansion. That causes less money available for savings and could force people to let go of their investments just to cover monthly bills. Since inflation e...