Digital currencies continue to record declines for the third session in a row today, Thursday, the 18th of November, and moments before the opening of the American markets, where the most expensive digital currency in the world (Bitcoin) continues to trade below the psychological level of traders 60 thousand dollars at levels of 59,317 thousand dollars, down by about 2% With a loss of more than 8% in the last seven trading sessions, with a clear decline in momentum and the market value, which settles at 1,121.972 billion dollars.
The combined market value of cryptocurrencies, according to Coingecko data, which includes more than 10,900 digital currencies, is declining by more than 1.7% today, Thursday, to lose more than 300 billion dollars since the beginning of the week, and it is trading at 2.72 trillion dollars.
This continuous decline for more than two sessions in the cryptocurrency markets comes after the approval of the trillion-dollar infrastructure law at the beginning of the week, as one of the laws aimed at providing financing for roads and bridges stipulates the imposition of a tax on digital asset dealers by reporting any digital transactions that increase their value For the $10,000 to the Internal Revenue Service.
In a related development, a group of bipartisan members of the House of Representatives submitted today, Thursday, a proposal to change the tax law on crypto entities and change the way in which the government determines who are considered intermediaries for encrypted assets.
The group opposed the definition of a cryptocurrency broker that was included in the infrastructure law approved by the previous week.
Ethereum is declining, the second largest digital currency by market value, by about 1.88%, and it is trading at levels of $4,180,000, with a market value of $496 billion, with a market value below $500 billion for the first time in November.
The SHIBA INU currency, despite its decline by 6% and trading at levels of $ 0.00004628, occupies the 11th place in terms of market capitalization, after it reached 25 billion dollars. .
06/11/2024
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