DeFi News Official TheBitTimes.com

Bitcoin may be at the start of a bull market that could last another nearly 1000 days, according to chart Analysis from the pseudonymous crypto-focused Twitter account @CryptoHornHairs. According to a chart shared by CryptoHornHairs on the 11 th of January, Bitcoin is at the beginning of a near four-year market cycle that it has followed closely since 2015. According to CryptoHornHair’s Analysis , the first 1064 days of each cycle involves a massive rally from the previous bear market trough. Once the market has peaked, it then enters a 364-day bear market. This pattern was followed exactly in the last two cycles. That implies that Bitcoin should rally over the coming years and peak in 994 days (1001 days at the time of CryptoHornHair’s post), before entering a 364-day bear market. Music to Bullish Ears This is exactly the kind of news the longer-term Bitcoin bulls want to hear, with prices having pushed back above and held to the north of the $20,000 level in rec

Source: Minseong Kim ( CC BY-SA 4.0 ) South Korean tax authorities have seized crypto from 5,741 citizens since 2020. Tax officials say the citizens in question were guilty of tax evasion or defaulting on tax bills. KBS reported that data was released by the National Tax Service (NTS), following a freedom of information request from MP Jin Seon-mi of the National Assembly’s Planning and Finance Committee. The latest data shows that $13.5 million worth of coins were seized from almost 500 individuals alone. These individuals, the NTS said, were top earners who pay the highest band of income tax. In September, the NTS stated that it had seized a total of $186m worth of crypto from tax dodgers in the past two years. Why Are South Korean Tax Officials Seizing Crypto? The NTS’ crackdown has been proceeding swiftly ever since it succeeded in convincing the government to revise the National Tax Collection Act. Doing so allowed it to “obtain a legal basis for compulsory col