Bitcoin Price Prediction: BTC Nears $66,000 Pivot as Iran-Israel Tensions Escalate
Bitcoin price prediction analyses see BTC trading at $64,950, up by nearly 2.50% amidst ongoing Middle East tensions. The volatile environment influences Bitcoin‘s market behavior, testing crucial support levels.
The recent attack by Iran on Israel heightened fears of an escalating Middle East conflict, negatively impacting global risk sentiment.
This uncertainty led to a decline in Asian stock markets while pushing gold prices higher as investors sought safer investment options.
Meanwhile, the U.S. dollar strengthened against the yen, reflecting its status as a safe-haven currency amidst geopolitical tensions.
Asia stocks slide, gold rises as Middle East conflict sparks safety rush https://t.co/vOOb7ZzZd6 pic.twitter.com/XD72yo42Lh
— CNA (@ChannelNewsAsia) April 15, 2024
Bitcoin, however, experienced a drop of over 2%, trading at $64,951, as market expectations shifted regarding Federal Reserve rate hikes. The ongoing conflict could increase market volatility, influencing further fluctuations in Bitcoin prices.
As the tax filing deadline approaches, the IRS is bracing for an increase in cryptocurrency tax evasion cases. Guy Ficco, head of IRS criminal investigations, expects more charges related to crypto-related tax fraud under Title 26.
Traditionally associated with financial crimes, cryptocurrencies are now frequently involved in “pure crypto tax crimes,” such as concealing identities and not reporting income from crypto transactions.
IRS investigation chief expects uptick in crypto tax evasion this year
IRS criminal investigation chief Guy Ficco said his agency has become more aggressive and capable of dealing with crypto-related tax crimes amid tax reporting season.
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— Coinyex
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