Forecast of the maximum Bitcoin fall date from Tom Lee
Co-founder of Fundstrat Tom Lee predicts market decline in the second half of the month. This will contribute to the need to pay taxes in the US, according to RBC.
According to the entrepreneur, American traders and investors owe the state $ 25 billion for operations with digital money. Since exchanges need to pay taxes on time, in the near future they will sell cryptocurrencies. This will have a negative impact on the exchange rates of coins.
We believe that pressure on the market is created by cryptocurrency exchanges, which are obliged to pay income tax in the us jurisdiction. The net income of exchanges for 2017 is equal to or more than 1 billion dollars. At the same time, their working capital is concentrated in Bitcoin and Ethereum, not in USD — respectively, to fulfill their tax obligations, they sell BTC/ETH.
We expect a significant deterioration in the situation around April 17.
The risk of targeted action by regulators is still substantial. The sentiment remains terrible. According to the estimate of our Bitcoin poverty index, the situation remains dire. Ultimately, we expect Bitcoin to find a bottom after April 17, the last day of tax payment.
At the same time, Lee does not consider this event the end of the era of cryptocurrency. In mid-March, he promised 91 thousand dollars for one bitcoin by the beginning of spring 2020.
Personally, I'm satisfied with this forecast. What are your expectations and predictions? Share in a comment!
Врёт
let's see :)
Followed and Upvoted, Keep up the good work and looking forward to more from you.
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