I am relatively new to the Cryptovurrency space (joined last month) and I only found out recently that crypto trading is a taxable event. My question is, hypothetically if I bought 1 Bitcoin at 20k and the price goes up to 70k and I think it's has gone high enough to be able to get my initial investment back, would I be taxed for selling 20k worth of Bitcoin? I'm confused because it's not actually a gain, it's just the initial amount of money and I assume I won't need to pay tax on it? Just like trading at a loss.
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