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Bitcoin appears to be conforming more to the conventional viewpoints of traditional investors who have recently entered the digital asset world through the introduction of US exchange-traded funds. The largest cryptocurrency surged Friday after a report showing a smaller-than-forecast increase in US employment renewed expectations for interest rate cuts, ...
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In the context of cryptocurrencies, “cost basis” refers to the initial outlay paid for digital assets. It is an important consideration when calculating capital gains or losses from the sale or disposal of cryptocurrencies. The capital gains or losses on an investor’s crypto sale are calculated as the selling price minus the cost basis. To avoid tax ...