Bitcoin Bulls to Play Long

Number of Bitcoin long positions had updated the 5 month' maximum
10 January 2019   530

On Wednesday, January 9, the number of long positions on Bitcoin on the popular Hong Kong exchange Bitfinex updated a five-month high, reaching 33,750, reports CoinDesk.

At the same time, the number of short positions was at 22,787. Thus, the ratio of longs to shorts was 1.5: 1 - the highest since August 6.

Meanwhile, the price of Bitcoin for the last day dropped by almost 6%, again dropping to $ 3,800.

Note that all the leading coins from the CoinMarketCap list, except TRON, have suffered even more.

Bitcoin to be an Asset, - Israeli Court

Judge Sh. Bornstein ruled that BTC is an asset, not a currency in a legal disput between trader and local tax authority, which wants him to pay $830k profit tax
22 May 2019   78

The central district court in Israel in the framework of the case of the founder of the blockchain-startup against the tax service identified Bitcoin as an asset subject to capital gains taxes, Globes reports.

So, in 2011, the creator of DAV.Network, Noam Kopel, acquired bitcoins, which he sold two years later, making a profit of 8.89 million new Israeli shekels ($ 2.29 million). Then Kopel entered a legal dispute with the tax service over the nature of the first cryptocurrency: he believes that it is a foreign currency, and the authorities insist that it is an asset.

Judge Shmuel Bornstein stressed that Bitcoin may cease to exist and lose to another digital currency, therefore, it cannot be considered a currency, especially in a tax context.

Thus, the court ordered Kopel to pay taxes in the amount of $ 830,600, as well as legal costs of $ 8,306. However, the defendant may still appeal to the Supreme Court.

Back in December last year, the Israeli tax service announced that it intends to fight with deviationists from the cryptocurrency sphere. Cryptocurrency holders in the country are subject to capital gains taxes (25-30%).