💸 Tax-Free Bitcoin Zone

Brandt Says 2024 Similar to 2016 & Morgan Stanley Now Offers Bitcoin                                                                                                                                                                                                                                                                                                                                                                                                                 August 08, 2024 | [Read Online]( 💸 Tax-Free Bitcoin Zone Brandt Says 2024 Similar to 2016 & Morgan Stanley Now Offers Bitcoin [fb]( [fb]( [fb]( [fb](mailto:?subject=Post%20from%20Bitcoin%20Minimalist&body=%F0%9F%92%B8%20Tax-Free%20Bitcoin%20Zone%3A%20Brandt%20Says%202024%20Similar%20to%202016%20%26%20Morgan%20Stanley%20Now%20Offers%20Bitcoin%0A%0Ahttps%3A%2F%2Fbitcoinminimalist.com%2Fp%2Ftaxfree-bitcoin-zone) First time reading? I’m [Jordan](, and this is The Bitcoin Minimalist. Every Tuesday & Thursday, we scour 100s of sources to bring you need-to-know Bitcoin insights. Today we’re covering: - 2024 price is mirroring 2016 post-halving price, - Bitcoin's impending "death Cross", - Group proposes US “tax free” Bitcoin zone, - And everything else you need to know. —Jordan Bitbo launched Bitbo Pro! Get our monthly reports & analysis to know EXACTLY what’s happening with Bitcoin and its price. Get alerts when the BTC price hits key highs and lows, and more charts & data you can’t get anywhere else! [GET BITBO PRO]( WHAT WE’RE WATCHING 🗳️ [Crypto4Harris, a grassroots group, is organizing a virtual town hall next week to rally supporters for Kamala Harris.]( Expected attendees include investor Mark Cuban and Rep. Wiley Nickel. Despite criticisms and limited online reach, the group aims to highlight Bitcoin as a bipartisan issue. 💰 [Michael Saylor revealed he owns $1 billion worth of Bitcoin, reinforcing his belief in its long-term value.]( He holds 17,732 BTC and continues to acquire more. Saylor also highlighted Bitcoin's strength, describing it as more powerful than the U.S. Navy and ideal for corporate balance sheets. 📉 [Bitcoin addresses holding over 0.1 BTC are nearing an all-time high, with 4,580,424 addresses, just below the record of 4,586,540.]( Despite a price dip from $67,500 to $49,000, investors are accumulating BTC. 🇺🇸 [Michael Saylor advocates for a U.S. strategic Bitcoin reserve, comparing it to the Louisiana Purchase.](He supports Wyoming Senator Cynthia Lummis's proposal for the U.S. Treasury to accumulate 1 million BTC. 🔍 [Bitcoin's impending "death cross," where the 50-day SMA falls below the 200-day SMA, might not be as bearish as it seems.](Historical data shows BTC has often rallied 67% of the time, 60 days post-cross. Analyst Timothy Peterson notes a median return of +18%, suggesting potential for a "super bull rally." 📊 [Bitcoin holders accumulated nearly $23 billion worth of BTC in the past 30 days.]( Onchain data shows 404,448 BTC moved to permanent holder addresses amid a market slump, indicating significant accumulation. CryptoQuant's CEO notes miner activity and stable hashrates as additional bullish signs. 🏞️ [USABTC proposes a Bitcoin tax-free Digital Economic Zone (DEZ) to boost the US economy.]( This initiative aims to attract investors by offering tax-free Bitcoin trading, while a taxed redemption ensures government revenue. The plan includes a phased approach starting with a presidential directive and aims for full completion by 2026. IN THE LOOP - Bitcoin and crypto critics [filed]( an updated campaign finance complaint against Coinbase. - Standard Chartered's Mox now [offers]( Bitcoin and crypto ETF trading in Hong Kong. - Metaplanet [secured]( a Â¥1 billion loan to buy more Bitcoin, continuing its strategy to hedge against yen depreciation. - A judge [fined]( Ripple $125 million and banned future securities law violations. - Stripe and Bitstamp have [partnered]( to simplify crypto buying for European users. - Morgan Stanley advisers can now [recommend]( Bitcoin ETFs from BlackRock and Fidelity. BULL RUN ECHOES Brandt: Post-Halving Decline Mirrors 2016 Bull Run Patterns 2016 Redux: [Bitcoin’s decline following the April 2024 halving is drawing parallels to the pre-2017 bull run, as noted by veteran trader Peter Brandt.]( In an August 5 post, Brandt highlighted that the BTC decline since the recent halving resembles the market movements seen in the 2015-2017 cycle. 2016 halving —> post-halving crash —> price goes to ATH in months after Market Corrections Comparison: Brandt pointed out that the depth of corrections post-halving in both periods is similar. The 2016 [halving]( saw Bitcoin’s price drop 27% from $650 to $474 before soaring to $20,000 by December 2017. Likewise, the recent decline to below $50,000 represents a 26% fall from the post-halving price of $64,962. Diverging Opinions: While some analysts caution of further drops, Bitcoin showed resilience, rebounding to $56,000 on August 6 after dipping to $49,221. ITC Crypto founder Benjamin Cowen compared this pattern to the 2019 market, which saw a mid-year surge followed by a significant correction. POLL Do you support tax free Bitcoin zones? [👍 Yes]( [👎 No, they will centralize Bitcoin]( [Other (leave a comment)]( TUESDAY’S POLL RESULTS Will Bitcoin drop more to new lows, or have we already seen the bottom? It’ll go lower - 26.3% We’ve already seen the bottom - 68.4% Other - 5.3% It’ll go lower - “Bitcoin will drop.” - Debbie We’ve already seen the bottom - “The main culprit was the unwinding of the yen carry trade over the weekend when Bitcoin and crypto were the only assets that could be sold to satisfy Monday morning margin calls” - Chris Other - “By the end of 2024 it will be at new all time highs. That's all that matters. What BTC does price wise 3-6 months post halving (see prev 2 halving events) is prepare to take and remain above prev all time high. In other words, nothing to see here.” - Harry VIDEO ☀️ The new CAD design for SolarBit reveals a [100% self-sufficient, fully automated off-grid mining system](. It utilizes the Bitaxe bitcoin miner and is entirely solar-powered. CHARTS & DATA $86,000 - Bitcoin is far below the ~$86,000 [price projected by the Bitcoin power law](. 180-Day Realized Price Change - Bitbo recently launched our newest chart, the [180-day realized price change](. It compared the current realized price to the realized price 180 days ago. Investors claim it helps spot tops and bottoms in Bitcoin. Bitcoin Mining Difficulty - Bitcoin mining difficulty [hit a new all-time high of 90.7 trillion](. New Bitbo Charts Never miss Bitbo's newest charts. Get an email when we post new charts. [Subscribe]( MORE FROM OUR COMPANY The Bitcoin Minimalist is run by Bitbo. Browse our most popular pages across our sites: [Bitbo Dashboard](: View live price action, monitor on-chain data, and track key economic indicators - all for free. [Bitbo Pro:]( Analytics & intelligence to supercharge your Bitcoin investing & trading. [Bitbo Charts:]( Useful Bitcoin charts, featuring on-chain metrics and other Bitcoin analysis. [Bitbo Store:]( Shirts, hats, hoodies, mugs, and other merch for Bitcoiners. [Halving Clock:]( Track the countdown to the Bitcoin halving with our Bitcoin halving clock. Share Bitcoin Minimalist You currently have 0 referrals, only 1 away from receiving Free Report: Why Bitcoin Will Continue to Grow. [Free Report: Why Bitcoin Will Continue to Grow]( [Click to Share]( Or copy and paste this link to others: [ [tw]( [yt]( Update your email preferences or unsubscribe [here]( © 2024 Bitcoin Minimalist / Wallabit Media LLC 1209 Mountain Road Pl NE Ste R Albuquerque, NM 87101, United States of America [Terms of Service](