Bitcoin Price Prediction as BTC Blasts Up 15% – Is a New Bull Market Starting
The price of Bitcoin has experienced a remarkable surge, skyrocketing by 15% in recent days.
This significant uptick in value has sparked speculation and excitement among cryptocurrency enthusiasts and investors alike.
Many are now wondering if this surge indicates the start of a new bull market for Bitcoin.
However, it is worth noting that Bitcoin faces a major challenge in breaking above the $31,000 double-top pattern.
Additionally, despite the implementation of new tax rules in Japan, Bitcoin faced some pressure on Monday amid mixed market sentiment.
In this Bitcoin price prediction, we will delve into the factors driving the recent surge, and explore the struggle to break the double-top pattern.
Japan's new tax rules exempt self-issued cryptocurrency from unrealized profit taxes, creating a favorable environment for cryptocurrency entrepreneurs. Stakeholders have welcomed this regulatory adaptability.
The recent mini-bull market and increased applications for spot Bitcoin ETFs have driven significant gains for Bitcoin.
Despite market volatility, Bitcoin surpassed the $30K hurdle and maintained its position above it. Japan's National Tax Agency introduced tax regulations that exempt token issuers from paying corporate taxes on unrealized cryptocurrency gains.
These revisions align with the Japanese government's earlier approval to eliminate taxes on paper gains for crypto firms that issue and hold tokens.
Discussions regarding new crypto tax rules began in Japan last August as part of broader tax reform for 2023, and the tax authority recently granted final approval.
Under the revised rules, Japanese companies issuing tokens are exempt from the standard 30% corporate tax rate on their holdings, including unrealized
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