IT Dept. Send Notices To Bitcoin Investors; Planets Predict Volatility In Bitcoin Prices?
Now, the income tax department has sent notices to Bitcoin Investors. In an unusual development, astrologers are predicting Bitcoin trends.
Pretty interesting developments have emerged in the bitcoin industry of India, since last few days. Income Tax Department has sent notices to bitcoin investors across India, mainly related to tax (which is a good news!).
Meanwhile, astrologers have jumped into the speculation game of cryptocurrency trading, as some fascinating insights have been shared related to the ‘future’ of bitcoin and other digital currency in India, and globally.
Can anyone actually predict the way crypto-market will move?
Income Tax Dept. Send Notices To Bitcoin Investors
Starting December, Income Tax Dept. has become quite active in the whole cryptocurrency market in India. After they ‘surveyed’ bitcoin exchanges in the month of December, they alerted that there can be a 200% penalty if any bitcoin trader fails to pay the relevant taxes.
We had already alerted that if you have invested in bitcoins, then you can get an income tax notice.
Now, confirmed reports have emerged, as per which Income Tax Dept. has sent notices to bitcoin investors across India.
It has been found that close to $3.5 billion has been traded in bitcoins in the last 3 odd years, and the hunt is on to collect taxes on the incomes.
Tech-savvy youngsters, software engineers and even jewellers have been found to be trading in bitcoins, as per IT Dept. findings.
B.R. Balakrishnan, a director general of investigations at the income tax department in Karnataka said,
“We cannot turn a blind eye. It would have been disastrous to wait until the final verdict was out on its legality.”
As per available reports, the Income Tax notices have been mainly sent to collect the taxes from the bitcoin investors, and to trail the source of their funding.
As we had reported earlier, capital gains tax among others is liable to be paid, if you have made money from bitcoins and other cryptocurrencies.
In a way, this is a good news for all bitcoin investors and traders in India. In case IT Dept. collects the tax, then it becomes legal as well.
Astrologers: Bitcoin Volatility After October!
Meanwhile, astrologers have jumped into the speculations and predictions world of digital currencies, as they are decoding the position of zodiac signs and planets to announce the way bitcoins and other cryptocurrencies will move.
This is indeed very progressive, and quite interesting as well.
Sample this: Ever wondered why bitcoins and other digital currencies enjoyed such a spectacular run in 2017? After all, bitcoin price became $20,000 from $1000, and this is no mean feat.
The answer is number 5, according to astrologers.
Astro-numerologist Sanjay B Jumaani said Bitcoin adds to 23, the best form of Number 5, Mercury the fastest Planet of Speed! It has already made the owner of Bitcoin, Satoshi an overnight Billionaire,”, adding, “Guess what? Its founder, Satoshi is a Number 5 himself!”
As per him, due to the strong position of Jupiter & Venus, bitcoins along with other digital currencies will do well in 2018. However, there will be few bumps along the way.
For instance, as per Sanjay, Mars & Retrograde Saturn from 7th March ’18 to 2nd May 2018 can induce volatility in the bitcoin market, but the prices will keep on increasing until July 2018.
“August ’18 will experience the debilitation of Venus & its placement in Virgo, which would affect Bitcoin’s prices.”
As per Sanjay, the prices will keep on increasing till October, after which, there can be some ‘pressure’.
Do let us know your views on the Astro-predictions of bitcoins, by commenting right here!