Bitcoin Slumps To $20K, Ethereum, Dogecoin Shiver On Biden’s New Crypto Tax Scheme: Analyst Sees ‘Euphoric’ Bears At This Level

Major coins traded in the red on Thursday evening after President Joe Biden’s new budget proposal that could potentially levy a 30% tax on electricity costs for cryptocurrency miners. Cryptocurrency Gains(+/-) Price Bitcoin -7.94% $20,027 Ethereum -7.42% $1,424 Dogecoin -9% $0.065 What Happened: Bitcoin (CRYPTO: BTC) quickly regained some of its lost ground late and was hovering at about $20,040, down 7.94% over the past 24 hours.