So if I triple my money and take profits and wait for it to simmer down, then buy in when it’s lower… I’ll have to pay the taxes on the USDT or USDC I swapped to when I buy back in.
But let’s say hypothetically I buy back in and some black swan event happens and my crypto goes down 75%.
Do I still owe the $ on the taxes?
This sounds like someone who can win big can really screw their lives up and go to jail if you mismanage it or the market corrects at the wrong time.
Is the principle now to just never sell unless you’re wanting to cash out?
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