Bitcoin Forum

‘Tax Day’ in the U.S. is today, April 17, and a number of analysts are bullish on Bitcoin as the much-anticipated tax deadline should trigger the next upward momentum.
What do you think about it?

Today is April 18 and I don`t see any BTC price increase.The price keeps moving between 8K and 8100 USD.
This proves my theory that the US tax season has little or almost nothing to do with the bitcoin market price trends.Why do people believe that USA is the most important country in the universe and everything that happens there always has a global impact? ???
What`s happening in the Asian countries is more important for the bitcoin price.I read news that South Korea and Taiwan are going to implement new income taxes over the cryptocurrency users.Let`s hope that this isn`t true.

I don't see any increase either.  Maybe it will go to 9k or perhaps back down to 7k.  But can't see any bigger upward swing any time soon. 

The price already increased right before the tax day, what do you expect? To go high within a day? Bitcoin is on bullish trend right now and since its stable at the price of $8k I believe that can be a strong support. Everything can happen but this time no room for bitcoin to go back on $7000 level again.

Hopefully, there was an upward swing because of that Tax Day in the U.S.A. but an of now as what I have seen there's nothing any increase on cryptocurrencies still in the range of $8000. I don't think so if that has a real impact on the price movement of bitcoin.
Let's wait for further info regarding this events now.

Yeah if seems that  bitcoin in still mode,  may be investors are just observing any possibility that  it's either positive or negative impact will occur, but it seems that it is going to be a bull run since it has no impact to crypto currency so we will expecting that  any time it will happen,

Tax day dealine was extended to April 18th due to a website malfunction, so I think we're gonna have to wait until tomorrow to see if there's going to be enough momentum (right after 'Tax Day') to trigger another pump in the price.

But it doesn't make sense to me why the end of tax day on US will push the price of bitcoin? Does it mean that people will become to accumulate more after the tax day and they are dumping bitcoin to circumvent paying more taxes? I'm bullish about bitcoin but I don't think that it will bring a impact to the current price.

Probably a sudden jumb due to a large amount of new investors to join, and also old investors to buy back their bitcoins.
But anyway I think that if nothing special is going to happen then the price will soon callback after and we  will keep stucking at the range of 7000$-9000$.
we need some regulators to recognize bitcoin as a sort of payment method and will be okay.

Hasn’t been much of a rise but you could have a good point here, the price could very well start heading upwards. Finally seeing of taxes could lead a lot of people to buy.

I don't think 'Tax Day' have that much effect in pushing Bitcoin price price. Bitcoin have already started recovering for past 5 to 6 days and it raised its price almost $1000 with in a day. Bitcoin price trend depends on many reasons and there is no specific reason as you mentioned to be the cause for price rise, even though your point is valid there is no spike observed in Bitcoin price.

Still the same and bitcoin hasn't moving from $7,900 - $8,100 and it remains the same. Ohh this might be the reason why we aren't seeing some actions lately. We have to wait until this day ends and see what will happen tomorrow and for the next days to come.
Effect before the event is also a big possibility but still there's nothing to lose to expect something tomorrow.

I am just hearings this for the first time and we are going to see this will impact the market positively. We are going to see more bullish trend than bearish trends for the remaining days of the year. Bitcoin is going to grow in days to come and buying them now should be what we should be doing.

Some people say that the mass sell-off that we saw last month was related to capital gains taxes (just people getting ready for Tax Day) so there's a high chance that once tax day is over, and investors get back into buying, the price could shoot up and trigger a new Bitcoin rally. Personally, I don't think we'll see a huge spike in the price right after tax day, but you just never knows what's gonna happen in this market....we'll just have to wait until tomorrow.

The FUDs is starting quietly disappearing and this US tax season ends. I can smell storms of investors coming again that will bullish run the market at higher than 10000$ within a week from now.
 It just my observation, silence means something and just one good news of bitcoin giant or whales this can end up to be a good start.

I’m optimistic or hopeful at this days, don’t get me wrong I’m just as speculative as others does.

US bitcoin market is significantly smaller than Asian bitcoin market.

I don't think it's a proper trading strategy to connect a Tax day and some bullish expectations. I don't think it will trigger another rise.

Dont deal with absolutes and you will have less disappointment in expectations or observations.  An immediate change in price is usually quite artificial where as the effect of less sellers occurring in concordance will be an ongoing bullish change in sentiment.    These kind of price changes are an effect underlying the normal market trade, it accumulates into a price change but its not a force that appears and waves a flag to make itself clear.

Life would simple if we could always observe exactly why, but its not a mystery either from my point of view.  I see the market as resembling chaos theory, its not random its natural but also very hard to track and predict.   Which is good because that leads to long term investment being needed to capture gains otherwise lost unexpectedly in days you didnt expect a higher price.   Market never really does what we want.

The biggest bar or move recently was linked to BTC shorts being cancelled out.  Some people called that out as impossible or fake but it kinda matches on both sides.  Where as this tax event is just a slow drip from a tap being turned off and its repeated annually anyhow, it maybe relates to the bigger changes in the last 12 months also.

considering that according to IRS reports hardly anyone is paying their taxes on Bitcoin I really don't think the end of tax season will create any sort of push in the price. It'll probably go a bit higher this month, maybe we'll even see $9000 this month, but I don't think it will be because of taxes. Also people who did have crypto related stuff on their taxes probably didn't wait until the last day anyways since it is very confusing how to treat crypto trades. I did my taxes a bit over a week before the deadline just to make sure I didn't run into any trouble figuring out the crypto stuff.

I'm honestly not sure as to if it actually has any significance, but since Tom Lee did say that bitcoin was going to return to bullishness after Tax Day, the hype from that alone is going to be enough to push prices upwards after Tax Day imo.

That's the thing with bitcoin's price movements, it's influenced by media a lot, and sometimes the predictions/events doesn't even have any real significance.

But I do expect short term prices to rise to $9k or so in this or next week. The support at $8k seems to be mounting at the moment and is quite strong already. But after BTC gets to around $9.5k or so, the market sentiment will most likely turn bearish again and the downward slope will continue for the next few months, before a recovery late this year or early next year.

Well that day has passed and there wasn't any real change, of course it would be foolish to expect it to happen all at once. If it were to happen it would be more in the form of a reversal than a quick recovery. I do believe that we've maybe already seen that in effect however. Many people will have resolved their tax positions before the date and could have re-entered the market already.

The change happened 1-2 weeks ago. But people always need to find a narrative. :P

The altcoin markets are looking very healthy, green across the board today. I'm seeing Wyckoff springs all over the place. Me when I look at my bags today: ;D

That's really good news for BTC. It means money is flowing into alts rather than into fiat. If nothing more, the stars are aligning for one hell of a bull trap over the next couple months.

It's not surprising when people looking for an excuse then start picking a random news related to the current situation blame it and spread it as a thought .
The bull happened just like that ordinarily , don't need that kind excuse to get connected each other. Another 5% grow in the next week and I'll consider it as a real bullish.

U.S government is not supporting to Bitcoin so we don't consider the U.S country because this country is against in Bitcoin. Recently many social medias are banned in ICO advertising but all the social medias are US related sites. I think US country is totally avoiding the Cryptocurrency so we don't consider the United states in Crypto platform.

I haven’t seen any change in bitcoin price after tax day and i believe that it has nothing to do with bitcoin price.
However there was remarkable change in Bitcoin Cash price and it seems that manipulators are trying to pump bitcoin cash to seek attention of other investors.

You see all of this attachment of bitcoin price to certain events in certain countries are mere speculations and if it happen as predicted, then its just mere coincidence and not the determining factor. I have read some where on the forum and even made comment where a certain individual had predicted in the days to April 17 that the price of the entire crypto is expected to fall further because of the tax day as lot of people will be selling their cyptos in other to meet their various obligations. I argued against it and its happening now that instead of price to have fallen as predicted, its the reverse and I am now seeing another one again making assumption that tax day is causing the price to increase.

bitcoin is always changing from time to time , not just after the tax day or any other special day. Bitcoin cant be taxed either because bitcoin is not covered by the governments or banks and as far as i know , local curencies or fiat money are the only one medium that can be able to get charged by a tax as they are being regulated . Bitcoin cash could possibly be manipulated because it also happend before on which bitcoincash price has jumped thru the roof unexpectedly.

America is too strict in making their investors invest, I'm not yet sure but there are some regulations that there are only accredited investment or maybe qualifications that can make a US Citizen do investment even not in crypto, so if those accredited users will put effort in crypto they might put a big amount,so it still depends, but since the market is recovering from last dips then we can still increase in days ahead.

"Tax Day" didn't affected to prices. there is less valotility for few days. This is really interesting cause we are experiencing most stable price days ever.
For a week bitcoin price is around 7500-8200$ range and this is so annoying.

Before starting into this business beside the important principals we must learn about the factors that affect the Bitcoin and its value. Tax has nothing to do with Bitcoin even if you look into the nature of Bitcoin; it is designed to finish these stuffs like taxes. But some people are still assuming the affect between these two. Actually they are wrong and you can use you brain to monitor the market its value is in between 7900 dollars and 8300 dollars. No affect on Bitcoin.

Well private institutions are the ones cracking down in crypto. The us government hasn't really issued any bans or the like and doesn't have any negative announcements against it. And i eouldn't really say it's bullish since btc has moved pretty much sideways around it's current value.

We already had a huge pump before then, the market already showed a strong signal of trend changing, most especially for alts before then, so whatever we are having now is just some normal market movement based on how the market is being perceived globally, but I wonder why people will want to attribute that always to what is happening in a specific country.

What is going on with bitcoin actually does not have anything to do with tax day of USA. It is going to be one week after that most awaited tax day but bitcoin market is still struggling under $9000 levels. People sentiment on tax day must have driven bitcoin prices up to this level then why not to $10k and $10k in coming weeks. Lets stay optimistic and Lets enjoy the bull's ride.

You can't just rule out certain events like they haven't or aren't positively influencing the market. If enough people believe in something, then it happens. We aren't seeing a massive swing to the upper side because smart money entered the market at lower levels, and just patiently wait for the next ride. Now with how the market is going up, less smart money is now pulling the trigger due to the increased confidence. On top of that, what justifies the price to actually shoot up to $10,000 levels? I am actually glad that we aren't increasing unnecessarily, because it shouldn't be anything new anymore when it comes to knowing what happens with unfunded peaks -- they mostly all reset back to levels they started.

what I think about the tax day in the US will raise (bullish) bitcoin prices is a more or less yes, it affects bitcoin as you explain. basically the factors that affect the bitcoin price up or down are the demand and supply on the market, news, traders, etc .which affects most bitcoin prices is news because news will make people know about good or bad bitcoin.

It does not affect BTC , I think it just recovered now from dips since no more FUDS out if it affects the price then it might not be a slow move on price. Anyway as long as its progress and many still aims for it to break the $9k mark, it just needs to be resistant to the news that may come along.

The tax story made most sense because its an event bringing sellers together.   Not that I think that its long term bearish but it creates liquidity in the order book, it lowers the price by producing more offers at any price.  Naturally more offers then bids lowers the price some.

The reason it might be more noticable this year is the bigger gains then normal since last April.    Of course this is just a local effect, temporary and thats why it was a decent to buy into.   Its never just one reason, theres technical points on the graph that were outlined also.   Many different points varying around the globe but I think the tax was part of it.  Unfortunately, I dont tax should be payable on simple currency but sadly government has plenty bills to pay.

It is not new that some would actually want to find something to justify the movement in bitcoin even when they know specifically that all they have said does not add up. The market is moving at its own time, and obviously from how the market already responded even before the tax day, I guess it was glaring that the tax day does not have anything to do with it.

So far, it seems the market is really trying to have some good run, so let's see how that plays out. I believe this bull run may extend up to new ATH but in more progressive way rather than what we had in last November. Slow and steady progress to $20k levels may lead to $50k levels in coming months.

I do not know How day is but catching Hades for the overall situation in the US, but in other countries Bitcoin is not included in the tax returns. This is due to the fact that in some countries there is no legislative basis for the crypto currency.