Bitcoin, Dogecoin Gain After Musk's Tweets, But Will There Be Another Bull Run?

[s.tanishka]

That's exactly what I think about the whole crypto situation. The only thing that continues to wonder me is that there are still many people believing that privacy coins were invented just to support criminals If there will be less such people, privacy coins will already lead the market, I believe.

You can thank mainstream governments for giving a bad image/perception of privacy coins to the public. After all, they don't want people going after something they can't track, control, or trace. Considering that there's a lot of opposition towards privacy coins, don't expect them to go all the way to the moon anytime soon. Only transparent cryptocurrencies such as Bitcoin, Dogecoin, and Ethereum will gain the attention of mainstream investors because of the way governments approve of them.

The day all of the world's governments ban crypto, will be the day when everything will go down to $0. Who knows what surprises we'll find in the future? Just my opinion

Let's hope the day when all the world's governments ban crypto coins never comes. Maybe the government should ban cash? Most crimes involve cash:)

[Sethrey]

You can thank mainstream governments for giving a bad image/perception of privacy coins to the public. After all, they don't want people going after something they can't track, control, or trace. Considering that there's a lot of opposition towards privacy coins, don't expect them to go all the way to the moon anytime soon. Only transparent cryptocurrencies such as Bitcoin, Dogecoin, and Ethereum will gain the attention of mainstream investors because of the way governments approve of them.

The day all of the world's governments ban crypto, will be the day when everything will go down to $0. Who knows what surprises we'll find in the future? Just my opinion

And I'm sure that it won't ever happen that ALL governments will decide to ban crypto. They'll more probably put taxes on crypto transactions in order to earn additional money on it, but not a total ban.

[Abiky]

Let's hope the day when all the world's governments ban crypto coins never comes. Maybe the government should ban cash? Most crimes involve cash:)

I sure hope so. But that's up to debate. If governments consider crypto as a threat to the very existence of Fiat, they could introduce measures that will prevent as much people from using it. They will ban cash, especially when they've announced their intentions to roll out CBDCs for public use. This new digital cash system will eliminate privacy for good by phasing out paper money, and putting everything on a centralized digital ledger only banks and governments control. I think this will lead to a massive boost in crypto prices within the long term.

And I'm sure that it won't ever happen that ALL governments will decide to ban crypto. They'll more probably put taxes on crypto transactions in order to earn additional money on it, but not a total ban.

They'll definitely tax crypto transactions. But I think they will charge high taxes, effectively scarring away people from crypto/Blockchain tech. Just like India was doing by imposing large taxes to crypto-related transactions. It hindered adoption for crypto assets within the region. Let's hope the US and other major countries provide a flexible tax model for the healthy growth of this nascent industry.

[yohananaomi]

I think that what Elon Musk said will always have an impact, but of course the impact can be long (although it very rarely happens) but what often happens is just spontaneity. so I think Elon Musk if he only does it through tweets it will just be spontaneous but if he does it by rolling out funds to buy, it's clear that there is a sustainable impact.
but I really doubt anything that Elon Musk does, if the market situation is really not good, it is certain that there will not be a bull run, it is very unlikely that will happen.

[rhomelmabini]

I think that what Elon Musk said will always have an impact, but of course the impact can be long (although it very rarely happens) but what often happens is just spontaneity. so I think Elon Musk if he only does it through tweets it will just be spontaneous but if he does it by rolling out funds to buy, it's clear that there is a sustainable impact.
but I really doubt anything that Elon Muskfunds does, if the market situation is really not good, it is certain that there will not be a bull run, it is very unlikely that will happen.

I think he's rolling some  in it, we just never know, maybe he's buying some after all bear market is the way these rich are buying for their portfolio in bull market. Even if those are just tweets I think partly that has some meaning and he really was really into Dogecoin. It might be a rumor that it will used alongside with Twitter but I think it's worth any attention

[s.tanishka]

You can thank mainstream governments for giving a bad image/perception of privacy coins to the public. After all, they don't want people going after something they can't track, control, or trace. Considering that there's a lot of opposition towards privacy coins, don't expect them to go all the way to the moon anytime soon. Only transparent cryptocurrencies such as Bitcoin, Dogecoin, and Ethereum will gain the attention of mainstream investors because of the way governments approve of them.

The day all of the world's governments ban crypto, will be the day when everything will go down to $0. Who knows what surprises we'll find in the future? Just my opinion

And I'm sure that it won't ever happen that ALL governments will decide to ban crypto. They'll more probably put taxes on crypto transactions in order to earn additional money on it, but not a total ban.

The extent to which governments choose to regulate cryptocurrencies may depend on several factors, including their perceived threat to traditional financial systems, their potential to be used in illicit activities, and their impact on consumer protection and investor safety.

[Inspiron14]

tweets from elon musk make the price of Bitcoin and Doge go up, it's a natural thing,
because it started since the 2021 bullrun, but we can't expect Elon musk's tweets and make the bull run come,
if it's a bull run then it will happen, so be wise when you follow elon musk.

[Abiky]

While high taxes could discourage some individuals from using crypto or investing in blockchain technology, it's important to note that taxes are a necessary component of any economy. It's also possible that governments will implement a flexible tax model that promotes healthy growth of the crypto industry.

In any case, it's crucial for the crypto community to work with regulators and policymakers to develop clear tax guidelines that are fair and equitable for all parties involved. This will help to foster a more stable and sustainable environment for the nascent industry to thrive and reach its full potential.

Flexible tax rules will contribute towards the healthy growth of the crypto/Blockchain industry in the long run. Taxes are needed to help legitimize crypto assets as a whole. I see a bright future for cryptocurrencies with transparent Blockchain ledgers such as Bitcoin, Ethereum, and Dogecoin. These coins go hand-in-hand with centralized exchanges, giving governments the ability to track & trace transactions with malicious intent or to collect taxes from it. I cannot say the same about privacy coins due to the way they are designed.

Given the fact that transparent coins have the "green light" from mainstream governments, there's only one way they can go. And that's up in market price. Maybe popular crypto assets are on their way to reach a new ATH soon? Just my opinion

[blockman]

tweets from elon musk make the price of Bitcoin and Doge go up, it's a natural thing,
because it started since the 2021 bullrun, but we can't expect Elon musk's tweets and make the bull run come,
if it's a bull run then it will happen, so be wise when you follow elon musk.

Honestly, this didn't started with Elon about tweeting and pumping the price of crypto. It all started with John McAfee when he has offered projects to pay him a huge amount of money for them to get tweeted because there's the assurance that it will be pumped.
And then a lot of projects did he tweeted and pumped in less than 24 hours after the tweet but IIRC, it has come to an end because it's no longer ethical and he has stopped that. Well, that's a lot of money for him but then RIP John.

[s.tanishka]

While high taxes could discourage some individuals from using crypto or investing in blockchain technology, it's important to note that taxes are a necessary component of any economy. It's also possible that governments will implement a flexible tax model that promotes healthy growth of the crypto industry.

In any case, it's crucial for the crypto community to work with regulators and policymakers to develop clear tax guidelines that are fair and equitable for all parties involved. This will help to foster a more stable and sustainable environment for the nascent industry to thrive and reach its full potential.

Flexible tax rules will contribute towards the healthy growth of the crypto/Blockchain industry in the long run. Taxes are needed to help legitimize crypto assets as a whole. I see a bright future for cryptocurrencies with transparent Blockchain ledgers such as Bitcoin, Ethereum, and Dogecoin. These coins go hand-in-hand with centralized exchanges, giving governments the ability to track & trace transactions with malicious intent or to collect taxes from it. I cannot say the same about privacy coins due to the way they are designed.

Given the fact that transparent coins have the "green light" from mainstream governments, there's only one way they can go. And that's up in market price. Maybe popular crypto assets are on their way to reach a new ATH soon? Just my opinion

We need a tax amnesty. I want my money to be legal and I am ready to pay 10% of my money right away to make everything legal. But very few countries provide such an opportunity.

[Abiky]

We need a tax amnesty. I want my money to be legal and I am ready to pay 10% of my money right away to make everything legal. But very few countries provide such an opportunity.

There's nothing wrong with paying crypto taxes. What's unfair or unjust is the high tax rates charged by most governments to crypto transactions, compared to traditional transactions involving Fiat. This is what scares people away from the industry. If taxes were flexible, everything would've been "reds and roses".

It seems that regulations on the crypto industry will get stricter than before, so only time will tell us how would this affect crypto market prices. Major coins like BTC, ETH, and  DOGE have nothing to lose, especially when their Blockchain ledgers are transparent by design. The ones that will ultimately get outlawed are privacy-oriented cryptocurrencies. Who knows what the future will bring to this nascent industry? Just my thoughts

[Sethrey]

Flexible tax rules will contribute towards the healthy growth of the crypto/Blockchain industry in the long run. Taxes are needed to help legitimize crypto assets as a whole. I see a bright future for cryptocurrencies with transparent Blockchain ledgers such as Bitcoin, Ethereum, and Dogecoin. These coins go hand-in-hand with centralized exchanges, giving governments the ability to track & trace transactions with malicious intent or to collect taxes from it. I cannot say the same about privacy coins due to the way they are designed.

Given the fact that transparent coins have the "green light" from mainstream governments, there's only one way they can go. And that's up in market price. Maybe popular crypto assets are on their way to reach a new ATH soon? Just my opinion

And I'm fully against the taxed for crypto. And I want this income remain private for me. I already pay taxes for everything in this life and share a part of my salary with govt. Isn't that enough to keep their hands away from all the other things I do?

[s.tanishka]

It all depends on the amount and financial situation. If you earn 1-2k$ from cryptocurrency, then of course you don’t want to pay any taxes. No one will care about you and your money will only go to food and party. But when you earn 10 million$, there will be much more problems. You cannot buy a house in civilized countries with this money. You will be asked for the origin of the money. In this case, it is easier to pay even 10% of the tax on the total amount, but then your money will become legal. You will not worry about the fact that during the purchase your money will be frozen.

[Sethrey]

While it may be tempting to avoid paying taxes on smaller cryptocurrency earnings, it's important to consider the long-term consequences of doing so. Even small amounts can add up over time, and failing to report them could lead to penalties and legal issues down the line.

On the other hand, if one has significant earnings from cryptocurrency, it may be wise to consider paying taxes in order to ensure the legitimacy of their funds and avoid legal and financial risks. While paying taxes may seem like a burden, it can provide peace of mind and open up new opportunities for investment and financial growth.

[s.tanishka]

We didn't see any growth during DOGE day. What's more, we saw a drop and that hurt all the DOGE fans. The community was sure that on this day there would be a crash. On the same day Musk decided to launch the biggest Starship and failed. Musk's failure also played a role in the DOGE dump.

[Sethrey]

It's true that Doge Day didn't bring the price growth that many in the community were hoping for, and the subsequent drop in price was disappointing for those who had invested in the cryptocurrency. While it's difficult to pinpoint any one specific event that caused the drop, it's worth noting that the cryptocurrency market is notoriously volatile and can be influenced by a wide range of factors.

Elon Musk's influence on Dogecoin has been well documented, and his announcement of SpaceX's Starship launch on the same day as Doge Day could have contributed to the drop in price. However, it's important to remember that while influential figures like Musk can impact the market, they are not the sole determinants of cryptocurrency prices.

[s.tanishka]

Recently again we have witnessed an absurdity. As soon as Mask tweeted the words Cult/Culture, the price of the Cult token suddenly began to rise

[Sethrey]

While it may seem like an absurdity, it's important to keep in mind that the cryptocurrency market is still largely driven by speculation and hype. This means that any news, whether positive or negative, can have a profound effect on market sentiment and ultimately the price of a particular asset.

[s.tanishka]

It doesn't seem absurd to anyone. It makes perfect sense. The smaller the market, the less money it takes to influence it. The cryptocurrency market is still very small and therefore can be influenced without spending huge amounts of money or effort.

[Sethrey]

I don't think it's small, but anyway. Now there's no need investing much money in order to influence the market or any particular coin. As there are other ways to influence it - such as hype through the social networks or the opinion of any so-called "influencers" and others. We're looking after it for about a year already, if not even more.