Coinbase released a tax calculator so you can calculate your gains and your losses, and of course it will help you with your taxes, but the problem is it only works if you’ve never transferred money out of Coinbase or from a different exchange to Coinbase. So, if you bought all your holdings on Coinbase and you sold or traded only on this exchange, you are eligible to use the calculator. Many traders say that this is somehow useless, especially for those who are in this industry for a long time now. The tax deadline is April 17, so that is slowly approaching here about a month out from the tax deadline. Moreover, most people when they buy their Bitcoin, Ethereum and co. on Coinbase, they transfer them on other exchanges, because that is the whole idea of trading.
Goldman Sachs said recently in a statement that Bitcoin has the potential of dropping below $5,000. Now, this is obvious FUD and they are trying to ‘help’ the market swing low so the opportunity of buying goes up. They are warning people that Bitcoin will go fastly below that $5,000 mark, but that is unlikely to happen according to financial analysts, the coin is volatile, but not that volatile. However, if this were to happen, there is a massive panic among the crypto space expected and probably, the other coins will follow the ridiculous lows and then it will be all about good news.