If I invested 30k in Ethereum and when my investment goes up to 60k, and I sell 30k just to get my initial investment back, will I be taxed on that? I live in the United States and just bought Ethereum this year.
Maybe if you withdraw your profit into your bank account, you need to pay the tax but if you keep the profit in the exchange, I think you do not have to pay the taxes.
I do not know how your government will apply the tax for people who make money online, but I suggest you follow their rule because that can make you safe from a problem.
You can ask your authorities about paying the tax from the crypto to understand how you can follow their rule.
You can hold your ethereum and not sell it right now as the price is down too deep.