There is a BIG benefit of this crash. Here is a tax loophole to save you tons of $$$

This is one benefit of the market crash: you can save yourself a bunch of money through a perfectly legal tax loophole.

All you need to do is create a capital loss. This means you sell crypto for a lower price than you bought it at. For example: If you bought one bitcoin at 60k, and you sell at 30k, you just locked in a capital loss of 30k.

So why is this important? Because capital losses cancel out capital gains. Since the wash sale rule doesn't apply, you can instantly buy back your crypto and the loss will still count. If you made money on anything in the past year, creating a capital loss will reduce your capital gain, and make it so that you have to pay significantly less tax or even nothing at all.

You can even deduct up to 3000$ of capital losses off your normal income for the year, reducing your taxes further.

This saves people thousands of dollars each year that know how to use it correctly.