Cryptocurrency: General questions

[ivonemisters]

Hey Petko,
Any idea about Bitcoin price? Broker the $65k but dropped after that? What can we expect?

[Petko Aleksandrov]

Sorry, I missed the question.

Well, what we have seen already is that when Bitcoin does a new record high, which it just did, it will drop. This is because the whales are taking profits.

So I personally like to take some profits when it is on a new record high, and I always buy the retracements that are bigger than 25% with the Bitcoin price.

[Lachezar Traikov]

Petko,hi!I have a Binance Visa card and plan to withdraw some profits on my crypto from atm machines.Do i still have to declare my profits?Is there a limit to when you are actually free of taxes here in Bulgaria?

[Petko Aleksandrov]

Hey mate,

There are no apparent rules until the moment on cryptos in Bulgaria. And I am not a financial or tax adviser. So please, do not take it as a recommendation:

We should pay taxes on the profits we withdraw. For example, if you have bought Bitcoin at $20k and you sell it now, you have a profit, and we should pay taxes. However, if you bought at $60k and now you sell it at $43, you did not make profits, so even you withdraw it, you shouldn’t pay taxes.

At least, this is how I understand what I have read about it.

Cheers,

[sendleradam]

It’s crucial to understand how different crypto assets behave when using algorithmic strategies—proper settings can make or break your results. I’d love to hear which take-profit and stop-loss configurations others are using, especially with volatile coins like BTC or ETH.

[Author]

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