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Tax-loss harvesting is a tax loophole that allows you to take hits in the form of losses and use it to minimize the burden on your tax filing. The whole purpose of this tax loophole is to reduce the taxes on your capital gains by strategically taking advantage of the market volatility of cryptocurrencies. The only catch is, in some countries, you cannot buy back the asset you sold in the loss within 30 days. You can only use up to $3000 of your losses against taxes on regular income within a tax year.