Bitcoin pundits had bet on prices recovering after U.S. investors filed their taxes. But as markets headed into the close on Tax Day, prices pulled back dramatically below $8,000.
Bitcoin fell more than $200 in 30 minutes, to a low of $7,861 as of 4:00 p.m. ET, according to CoinDesk. The digital currency has dropped roughly 45 percent this year, after trading above $14,000 in January.
The Internal Revenue Service views bitcoin and other cryptocurrencies as property, meaning profits from transactions are subject to capital gains tax. U.S. households could owe roughly $25 billion in taxes for digital currency holdings after bitcoin's meteoric rise last year, according to Tom Lee, head of research at Fundstrat Global Advisors.
Read More https://www.cnbc.com/2018/04/17/bitcoin-tax-day-rally-is-apparently-not-happening-as-price-drops.html
It takes me three weeks to get my refund, though I guess people could be getting those tax refund loans.