from my understanding, if bitcoin went down 50% based on the value you had invested in the beginning of the year, you pay nothing of taxes, because you had no profit. and you only pay taxes if you sell it.
i frequently trade in the stock market and that's how it works there though.
from my understanding, if bitcoin went down 50% based on the value you had invested in the beginning of the year, you pay nothing of taxes, because you had no profit. and you only pay taxes if you sell it.
i frequently trade in the stock market and that's how it works there though.