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Falling crypto prices put investors in position for tax-loss harvesting

Falling crypto prices put investors in position for tax-loss harvesting

Cryptocurrency markets have been in a bit a slump.

Bitcoin, the world’s largest cryptocurrency, fell 6% in Monday trading, its biggest daily drop since March. It has since bounced back some, and price on the digital currency currently stands at about $93,000, still about a 25% decline from an all-time high of nearly $125,000 in October.

Other prominent digital currencies, such as ether and Solana, have had recent declines as well and, like bitcoin, have now logged a negative return over the past 12 months.

For crypto investors under a dark cloud, some experts say there could be a silver lining: The Internal Revenue Service allows you to use losses on investments you sell to offset investment gains and taxable income.

The rules around this…

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