Topic: [btc] [btc] [btc] THE STATE BUDGET TAXATION AND MARKETS ARE COMPREHENSIVE [btc] (Read 62 times)

Tom Lee: Electronic money is being siphoned out to prepare for tax filing in the United States

Financial strategist Tom Lee predicted a massive "cash outflow" from digital currency to cash back in the run-up to the US tax pay day, CNBC reported on April 5. .

Lee notes that US households currently owe a total of $ 25 billion in income tax on their e-money investments, and that they also have to pay corporate taxes. , so it is likely that retail investors as well as the floor will have to sell some of their electronic money to be able to pay taxes to the US government.

We believe there is a selling pressure on trading floors that must comply with US tax regulations. Many exchanges earn a net profit of more than $ 1 billion in 2017, and that stock is in the form of Bitcoin / Ethereum rather than the US dollar - so to avoid legal obstacles. They are massively selling BTC / ETH. "

According to Lee, "historical data showing $ 1 withdrawals will have an impact of $ 20- $ 25 on the market value of electronic coins."
The forex market has recorded a loss of more than 50% in the first quarter of 2018, making it one of the worst historical periods in both the BTC and ETH. However, anyone who has benefited from the tremendous growth of the market in 2017 still has to pay income tax on their revenue.

50% reduction: The first quarter of 2018 is the second worst time in Bitcoin's history - Coin Market
Bitcoin (btc) prices fell 50% in the first three months of 2018 - marking the worst quarterly electronic currency in the world.

The Bitcoin Distress Index (BMI), which Lee built in March to measure investors' misery based on current BTC prices, shows that hodlers are now beginning to feel and feel miserable:

The regulatory risk is still high. And the mentality is still negative, as can be seen in our bitcoin distress index, which is still returning the "suffering" result.
"Ultimately, we expect the Bitcoin price to bottom after April 17 - the entire tax day."

Tom Lee most recently predicted that Bitcoin would rise to $ 91,000 by March 2017, based on gains from previous declines. In January, when the BTC was still hovering around $ 9,000, Lee said the world's No. 1 electronic currency would hit $ 25,000 by the end of 2018, much closer to the previous 2022 target.
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