The IRS ruled that bitcoins and other cryptocurrencies are property, not currency. As such, you determine gain or loss in the same was as any other type of property. Compare what you paid for the bitcoins and what you received on the sale (making adjustments for commissions, etc.).
The difference between face value of a bond and lower market price, attributable to rising interest rates. On a sale, gain on the bond is generally taxed as ordinary income to the extent of the discount.