BTC price regained the $19.5K support

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Bitcoin Approaches $20K Psychological Price Level As It Finds $19.5K Support – September 8, 2022

On September 6, Bitcoin (BTC) price dropped to an all-time low of $18,675 but regained the $19.5K support. Over the past 48 hours, BTC price has been undergoing an upward correction to revisit its previous high. Bitcoin will gain momentum if the price breaks above $19,540. If Bitcoin turns around and breaks below the $18,675 support, the downtrend will continue.

Bitcoin Price Statistics Information:
• Bitcoin price now – $19,757.29
• Bitcoin market value – 378,260,579,008 dollars
• Bitcoin transfer supply – 19,145,237.00 BTC
• Total supply of Bitcoin – $414,895,837,993
• Bitcoin Coinmarketcap Rank – #1

Resistance Levels: $50,000, $55,000, $60,000
Support levels: $25,000, $20,000, $15,000

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In the previous price action, BTC/USD has been trading between the $19,540 and $20,540 price levels. On September 6, buyers were challenged by sellers as they broke below the $19,540 support. Bitcoin fell to $18,675 as bulls bought the dips. Today, the price of BTC has risen to an all-time high. On the upside, if the price of BTC recovers above the current support, Bitcoin will rise above the $19,540 high. The bullish momentum extends to breach initial resistances at the $20,500 and $21,000 price levels. If buyers are successful, Bitcoin will rally above the $24,000 resistance. Conversely, if buyers fail to break the high of $19,540, Bitcoin will fall back to its previous low of $18,675. If the current support is offshore, the decline will resume. Bitcoin drops further to a low of $17,605.

New Study Lists Top Countries Hardest Hit by Crypto Taxation

The crypto tax rate was developed by crypto analytics firm Coincub. The new study suggests the worst and best countries when it comes to crypto taxes. According to the report, global cryptocurrency tax laws vary from country to country. That is, some countries have stricter crypto tax policies for their residents than others. According to a new study by crypto analytics firm Coincub, Belgium is considered the worst country in the world when it comes to crypto taxes for residents. The Belgian Crypto Tax Law is in 2017.

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The country imposes a 33% tax on capital gains on crypto transactions. It also prohibits taxes of up to 50% of professional income on crypto businesses. Other countries most affected by crypto tax are: In Iceland, any crypto profit up to $7,000 is taxed at 40%, while larger profits are taxed at 46%, according to the report. In a country like Israel, the sale of crypto is subject to a capital gains tax of up to 33%. However, if the crypto business includes business income tax, it can reach up to 50%. Also, in the Philippines, there is no tax on any crypto income below $4,500. Continued income above that attracts up to 35% tax.

However, the new study lists countries that offer tax-saving incentives to citizens and have more favorable crypto tax policies. First of all, Germany leads the list of countries with a favorable crypto tax policy. For example, any crypto investor does not pay capital gains tax for at least one year by selling or exchanging cryptocurrency. Other crypto-tax friendly countries include Italy, Switzerland, Singapore and Slovenia.

Bitcoin price forecast for today, September 8: BTC price will receive the support of $19.5K
BTC/USD – weekly chart

Meanwhile, after the recent decline, Bitcoin fluctuates between the $18,675 and $19,540 price levels, but has reclaimed the $19.5K support. The cryptocurrency will trend when the range-related levels are breached. Bitcoin is at the 14th Relative Strength Index level of 40. This indicates that buyers are attracted to lower price levels.

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