# BTC Dump reasons....

By [vishnu vikas](https://paragraph.com/@vishnu-vikas) · 2023-03-10

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Are you buying this dip of the dipped dip from a dipping dip happened after the dip of the dipping dip dap dup....? But don't know the reason for this dip? Mega Article on [#Bitcoin](https://twitter.com/hashtag/Bitcoin?src=hashtag_click) dump What happened in crypto in Last couple of hours.

1/ Biden wants to double capital gains tax to almost 40% [https://watcher.guru/news/president-biden-calls-to-double-capital-gains-tax2](https://t.co/rNscRxGfIs)

2/Biden wants to tax electricity used to mine crypto (30%)

[https://www.coindesk.com/policy/2023/03/09/us-treasury-department-proposes-30-excise-tax-on-crypto-mining-firms/?utm\_medium=social&utm\_term=organic&utm\_content=editorial&utm\_campaign=coindesk\_main&utm\_source=twitter](https://www.coindesk.com/policy/2023/03/09/us-treasury-department-proposes-30-excise-tax-on-crypto-mining-firms/?utm_medium=social&utm_term=organic&utm_content=editorial&utm_campaign=coindesk_main&utm_source=twitter)

3/ Silvergate bankruptcy

[https://watcher.guru/news/silvergate-capital-to-shut-down-liquidate-bank?c=221](https://watcher.guru/news/silvergate-capital-to-shut-down-liquidate-bank?c=221)

4/ [@hedera](https://twitter.com/hedera) exploit

[https://twitter.com/hedera/status/1633866752936521728?s=20](https://twitter.com/hedera/status/1633866752936521728?s=20)

5/ [@kucoincom](https://twitter.com/kucoincom) exchange sued by New York's Attorney General

[https://watcher.guru/news/kucoin-exchange-sued-by-nyag-claims-ethereum-is-a-security?c=31](https://watcher.guru/news/kucoin-exchange-sued-by-nyag-claims-ethereum-is-a-security?c=31)

6/ [@HuobiGlobal](https://twitter.com/HuobiGlobal) token [$HT](https://twitter.com/search?q=%24HT&src=cashtag_click) dips 90% & recovers

![](https://storage.googleapis.com/papyrus_images/b9f538bc7531e80e640e78118c7e744a62755e427cd51e6c730ed435efab533a.png)

7/Mt. Gox 142,000 [$BTC](https://twitter.com/search?q=%24BTC&src=cashtag_click) unlock soon

[https://twitter.com/TheBlock\_\_/status/1630953041196097536?s=20](https://twitter.com/TheBlock__/status/1630953041196097536?s=20)

8/ Ethereum's Shanghai upgrade will unlock 17.6M ETH or over $28 billion.

[https://cointelegraph.com/news/ethereum-eyes-25-correction-in-march-but-eth-price-bulls-have-a-silver-lining](https://cointelegraph.com/news/ethereum-eyes-25-correction-in-march-but-eth-price-bulls-have-a-silver-lining)

9/ All crypto businesses in India would come under ambit of PMLA

![](https://storage.googleapis.com/papyrus_images/fe48b998c974948126a1ea7b48a1688737445f20f2c8e9d9c0b30efd1f02e5a3.png)

10/ Around 49,000 BTC ($1B) have been moved on Coinbase by US Government. linked to Silk Road and seized in November 2021, fueling selling rumors.

[https://cointelegraph.com/news/silk-road-bitcoin-for-sale-us-government-linked-addresses-transfer-1b-in-btc](https://cointelegraph.com/news/silk-road-bitcoin-for-sale-us-government-linked-addresses-transfer-1b-in-btc)

These are the 10 major reasons.

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*Originally published on [vishnu vikas](https://paragraph.com/@vishnu-vikas/btc-dump-reasons)*