Bitcoin Forum

Early investors in Bitcoin are faced with large capital gain taxes from the profit they made in 2017.

Read more here: https://smartereum.com/5636/the-real-reason-behind-bitcoins-price-crash-revealed-tue-aug-7/

Qoute from that link,way back 2014 IRS made an announcement that crypto's are defined as a property and not a currency.
So as such they are entitle to pay thier taxes as property owners.

but this h as not changed ever since IRS put forth clear rules back in 2014 and not to mention that the tax deadline thing was a couple of months ago. it had nothing to do with now.

on top of all that you are missing the important point that bitcoin is a global currency with markets as big and some even bigger than the market in US!

It is hard for them to make a tax since Bitcoin price is very volatile. There are many loopholes on this regulation because Bitcoin is not only a property it is in fact a currency where you can buy goods online.

So, this is some question i want to ask;
1. How can IRS make a conclusion thay cryptos is a property? And how much power the IRS is to defined it?
2. Even if this true. How to track all transcation from 3-4 years ago and get their identity with decentralized system? Using what punishment?
We talk about investors globally, i do not think it is possible. Added with different tax regulation in some country.
Please share your thoughts

I'm not sure how this news will cause the bitcoin price crash moreover since Bitcoin likely doesn't get affected of news, it just following the trends.

firstly
anything is a currency. even stocks, shares, bonds. its then importand to define what CLASS of currency it is
majority of countries are correct that it is an ASSET class currency
it is not a commodity. nor a legal tender fiat.

secondly stop calling all these things a DUMP.
prices move up and down. accept it. and especially accept that you should never stand at the high and look down. always stand at the bottom and look up.. looking bottom up will save your sanity and will adjust your thinking to be more rational.

thirdly
its the wrong tim of year for thinking of taxes and many of those who are big enough to be whales and move a price considerably by themselves already know how to manage taxes without actually having to sell out.
think about it rationally . lets say USA.. if americans HAD TO cash out everything on tax day. then you would see every year on tax day the NYSE drop to zero because everyone has to cash out.
so people dont logically have to cash out. and so that busts the myth of tax being the reason.

fourthly
its more about the cost of obtaining it (mining costs) that are at play right now. the price is bordering the cost of obtaining it and the mining pools are reacting. one day 52exa the next 38exa meaning there is a cost swing of between $5k-$7k as the bottom line value (refuse to sell below support lines) so expect it to shift by $2k within a few days.. just learn to stand at the bottom and buy near the lows of average $6200 and sell for a few percent higher. stop getting emotional hoping for a $20k jump..  that $20k jump was never a sustainable point of value. it was a speculatd hype bubble. we may see $20k spike occur again medium term but based on value matrics it will be a whil before $20k is a sustainable bottom line value point.

dont stand at $20k peak looking down. it was never gonna last long at this time.
just enjoy the swings of prices as smaller percentages grab small percentages and repeat repeat rpeat. its less risky and will ultimately yield you mor then just waitin for a $20k ATH again

I agree with you and perhaps future bitcoin contract is possible to be included in this crash . the sharks are trying to creat some bad news for bitcoin as a good chance to cover cheap bitcoins before big waves.

I seriously doubt taxes are the reason that the market has fallen this bad.  Its fallen significantly more than the tax bill would be if everyone had paid in full.  I think there are strong fores at play here during this year long pump and dump we just had.

Recently bitcoin market fallen down and many analysis show different reason for this fall but I hope it will be come back again.

Bitcoin is  a popular coins in a crypto but this  is not  a good time going for bitcoin. There are many reason work behind the crash of price . the  taxes are gaining it is a problem for the investor to invest a large amount.

I dont think Tax is the main reason of the falling. There are many more reasons as well. And, bitcoin is always voltaile. So, it's very natural to fall the price in my perspective.

Many people are against bitcoin and they create rumor against bitcoin. That’s why investors are afraid to invest more on bitcoin. For this reason its demand decrease and price also.

Many people are against bitcoin and they create rumor against bitcoin. That’s why investors are afraid to invest more on bitcoin. For this reason its demand decrease and price also.

I don't think this is the major cause of price crash. We know many powerful people are against bitcoin, and there has been FUD since inception and there will always be FUD. I think the price fall is caused by heavy Mafia clique manipulations. They want to buy cheap and take a major profit.

I truly question charges are the reason that the market has fallen this terrible. Its fallen essentially more than the expense bill would be if everybody had forked over the required funds. I think there are solid powers having an effect on everything here amid this year-long pump and dump we simply had.

Many countries governments are against bitcoin. That’s why investors are confused to invest on this project. For this reason its price crash and i believe situation will change and price will rise again.

     The financial system is no exception to this increased volatility. Compared to financial systems of the past, the modern financial system is highly complex and interconnected.

Tax systems in different strange are very different. But the common problem is the inappropriateness of taxes to the volatility of crypto markets.

Its the reason why bitcoin difficult to apply tax from government but if no tax then government will not so agree to legalize bitcoin.
This is the main reason of bitcoin or crypto loss in value. The government is followed by many people not to use crypto and caused crypto demand is low and of course the price is impacted.

I concur with you and maybe future bitcoin contract is conceivable to be incorporated into this crash. the sharks are attempting to make some terrible news for bitcoin as a decent opportunity to cover shabby bitcoins before enormous waves.

In crypto market most of the coins are suffering for price based on this Tax cannot be the only reason for price fall of BTC based on this there are also other reasons behind this.

Only impose in Tax is not the only reason for price drop based on this there  are many reasons like ETF rumor and demand and supply  is also cause of this.

I did not see the point where this news should affects the price of bitcoin. And secondly, tax also should not even affect the movement of cryptocurrency in any way whether been seen as an asset or a currency.
The government that wants to impose tax should state categorically on what basic are they imposing the tax, is the tax been impose on the holder of cryptocurrency for possessing Crypto coins or base on the amount of coins you possess.

There many reason behind the bitcoins declining but this should be one of them. BTC is volatile so to give more taxes from it’s benefit is not exceptable.

They we're that is why they left crypto? If they are the real pioneers of bitcoin, not this kinds of things will make leave such a wonderful technology.

They might have gained a lot more bitcoin from this so-called dump because they know this thing can shake the government that much.

This could be a price dumps as they want to buy more bitcoin when the price hit the bottom due to panic selling of those weak hands investors. A strategy that has been use by those big holders of bitcoin as they can play around with the prices when it just a mid-range. We just wait for few days to determine what went wrong with the market situation.

Actually If we think about the market condition then most of the coins are infected for price based on this some country banned this coin also ETF rumor may cause of price change and impose in tax in BTC is not the main reason for price fall.

It is hard for them to tax since the Bitcoin to cost is exceptionally unstable. There are numerous escape clauses in this control on the grounds that Bitcoin isn't just a property it is, truth be told, a cash where you can purchase merchandise on the web.

That's not a good news at all. Cryptocurrency market is always fluctuating but the actual cause behind it can directly be never found. According to this article, the Bitcoin investors in US are selling of their Bitcoins so that they can pay their taxes. This might be the reason of fall of price of Bitcoin.

Yeah i don't think it has that much effect as well. Manipulation can be blamed a lot more than that kind of fud since it's going to be hard anyways to run after each and everyone who made big profits back then.

The tax paying for BTC in the USA is one of the main reasons for the BTC price cash, it might be true. But I think, it is not the prime reasons as most of the coins stay outside the USA, we know. BTC price may be due to market volatility and hypes that created recently.

It should be one of the reason for bitcoin’s declining. By these many investors lose their interest to invest on BTC.

This makes no sense......

https://www.irs.gov/newsroom/2018-tax-filing-season-begins-jan-29-tax-returns-due-april-17-help-available-for-taxpayers

" ....when a person holds on to Bitcoin for more than a year before selling, it will only be liable for what the IRS refers to as

long-term capital gains. The rate for this kind of tax is significantly lower from about 15 to. 23.8%. " So are you saying they

are selling to prevent long-term capital gains or are they selling to pay it?

I did my research online after reading this post and found out that there's actually some truth to it. But it is still beyond my understanding that how could IRS consider Bitcoin as property rather than a asset. Another thing which concerns me most is that how was the people tracked who made the transactions during that time since Bitcoin is built on a decentralized network.

If this is true, then how are we able to ensure anonymity? I understand that we really need to undergo KYC, but it should be held for bitcoin users itself and not to be shared to other people especially the government.

There will always be fluctuations in the cryptocurrency market. It is not possible to know the definite cause of the recent dump of Bitcoin. But it is assumed that this dump is due to the reason that the US investors are selling of their Bitcoins to pay their taxes.

Yeah right.
We need to pay the taxes now. Why? Because bitcoin is getting expensive. What the hell is that about??!!!

They did not even care before and governments trying to put it down after it went through a higher price that Gold. Now this?!
Oh yeah. Like hell I would pay. They wont even find out the stashes of bitcoin users.  ;D

Exactly, the IRS made such an announcement but it is not easy to regulate the tax pay by bitcoin owners as, there are some distortions regulating these type of attempts, one the main is the volatility of bitcoin price because the original property has its value and increases with the spend of time but bitcoin has no stable value, even that no one is responsible on the collapse of its market then how can people muffle them into taxes of an non-trusted property?

Though I doubt about this being the only reason for the current price drop as there are other reason like ETF rejection which has played a big part in the market crash. But, the decision from IRS has definitely have some influence in it. But, it is really absurd for them to consider Bitcoin as a property.

It can not be said that this is the main reason. As one of the necessary solutions, yes. We are waiting for the regulators to turn their faces and begin to help.

Capital gains only arises when you sell and that should not be a problem for someone who wants to comply with tax laws and also there is the option of roll over whereby the money generated from the disposal of the asset that generated the initial capital gain is used to purchased another asset. The capital gain at the time is then rolled forward to the time when the new asset is eventually disposed off. So with this, several options are available based on my understanding of the dynamics of Capital Gains Tax which should not be too different across countries

1. If I kept my bitcoin in my wallet all through 2017 saw a significant increase but I didn't sell, I am not liable to pah CGT because I didn't make any gain.

2. If I sell in 2017 and kept my money, then CGT becomes payable.

3. If I sell in 2017 and I used the proceed to buy more bitcoin when the price crashed, then I will pay my CGT when I eventually sell.

In conclusion, its not about CGT as not everyone in bitcoin lives in one particular jurisdiction to have made such huge effect on price.

I highly doubt about the authenticity of the article you provided, for two reasons mainly. First, the deadline for paying the taxes was in April. But, the bearish trend started a couple of weeks ago. Second, it is not possible to track down the owners since the transactions are not traceable and that is what makes Bitcoin unique. So, it is impossible for IRS' tax collection to cause the market to crash.

If this is true, it will definitely affect bitcoin. But at this moment it will be very hard to read cover those loophole and the evasion. Because the market is seriously bad. I hope they find a way to make it bad debt written off. They when the market is OK, they give them all out things.

Thats funny way to put up why crypto currency is crashing. I guess if they earned huge money back in 2017 then they would have already gotten the idea that they will need to pay huge taxes next year during the financial year. I think this reason is too bullish that crypto is dropping right now because of the tax stuff. Its too tiny reason by the way and what it is getting affected is different events that happened this year. For example 400 billion dumping of Mt Gox, Exchangers getting hacked and SEC decisions making delays and much more. Now these are the reasons which are crushing the bitcoin prices.  ;)

but this law only applies to US citizen. they are already collecting taxes from it so why is there a council to decide whether BTC shall be approved on ETF when they are already considered property? its going to be a lot of work again when for them. i suppose if this had been going on since 2014 then it can go on and ETF will still not be approved after Sept.

Oh how I wish ETF gets finally approved this September. It looks like bitcoin is in a shaky situation if no ETF approvals unless some solid news can support a bullish run.

Any good thing or idea can be spoiled by taxing it ;) :)

So this could be mean the mere reason why crypto market price always falls down. However, i am still confused when they said that it is the year of 2017 that bitcoin should pay the capital gain taxes wherein fact it is already 2018. How come they are not getting it to the record on 2017? Is this really the possible reason behind for the market price adjustments?

Let's be real: a genius created it, a genius will make it explode. Isn't it how it works. The fate of higher stuff

That's not the real reason. That's a bias news as usual. Cryptocurreny is a currency but encrypted. I think the real reason why Bitcoin is down this week is because the people are just following the trend. Also, Most Chinese are withdrawing money during this times.

To be honest it is logical reason but it is more interesting for me to know the reason why and how bitcoin will be recovered and mostly I want to know when it would be taking place.

Tax is not a big issue as people knows that bitcoin gives good profit so they never think of it negative for it to pay a fair tax, but I think those people who has negative mindset and they sell coin at panic are being a reason for the price fall, it is good to keep bitcoin than selling as it will be worth nothing if the person will sell it, panic selling wrong news and high availability than demand makes it down temporary.

It will be very difficult to make a tax because Bitcoin value fluctuates so often. Moreover this is a wrong time of the year for taxes.

I don’t agree with the idea that Bitcoin price has fallen for this bad for taxes. I researched the price earlier this year and came to the conclusion that Bitcoin holders are responsible for this.

I don't think this is the reason behind it. Even it doesn't look like price crash to me. Fluctuations are quite normal for a cryptocurrency like bitcoin. So i think we should not worry much.

Yo me I think this reason is too bullish that crypto is dropping right now because of the tax stuff. Its too tiny reason by the way and what it is getting affected is different events that happened this year. For example 400 billion dumping of Mt Gox, Exchangers getting hacked and SEC decisions making delays and much more and these are the reasons which are crushing the Bitcoin.

There are various reasons behind price fall from my opinion. But i am confused about the tax thing. How can they take tax for a volatile currency? Anyways i hope that bitcoin will be recovered soon.

I think we can not mention it as a dump. The price is increasing slowly for two days. I think it was just a normal price fluctuation. Besides i am hoping for the fifth wave which will probably bring the bull back.

Still not clear how they are imposing taxes over BTC gain. The transaction is still decentralized, It would only be possible if you buy something using crypto. But in that case the tax should be incorporated in the product price. Need some more information about this.

Maybe it can be a reason behind BTC price fall, but it cannot be the only reason. Because the price fall is larger than if everyone paid their tax completely.

But seeing crypto as an asset instead of digital currency which it is, was not successful when SEC mentioned it. Was there another deliberation where finally
it was agreed that bitcoin is not a  digital currency but an asset now. I can not remember such news.

Unfortunately we have friends around who are trying to explain Bitcoin to the people who don't know it by themselves that currency by itself is an asset. Currency is a current asset. I guess before we come to explain bitcoin on any forum we should at least study the fundamentals of economics. So that we have a good idea of what we are saying otherwise we will see the same blunders happening in this forum repeatedly.

There is another reason behind the crash of BTC price is Google has recently announced of banning all ads related crypto currency for which the price of BTC has been low throughout the month.

Investors has to pay off the tax from the crypto currency they have made profit which is quite large in amount. So due to paying off capital gain tax is responsible for the sudden crash of bitcoin price.

I agree that there is a lot of money and profits that people earned on the growth of bitcoin! what is happening now - the drop of bitcoin, this is due to the fact that in New York a lot of investors have taken to enter bitcoin! but these investors will enter the crypto market, only then - when bitcoin will fall to 5000 dollars! Today crypto market is very much manipulated! because of this price bitcoin is artificially lowered!

Are you sure this is the main cause that makes bitcoin price crash so bad? I thought is because of something else like some exchangers got hack or it just followed the trends like last year. Keep the faith for bitcoin.

The bitcoin boom seems to be over for now, it’s currently trading at $6,4500 and I personally welcome it. The market is telling us something loud and clear, we do not need 1000 different alt coins (alternative currencies) and the crash will most certainly get rid of these. A consolidation of quality projects within crypto will bring about the start of true bitcoin dominance.

The reason behind the price problem of bitcoin was happened because of that news. Otherwise, there was no reason of changing the price of bitcoin overnight.

Cryptocurrency is a virtual currency, not more than that. There shouldn’t be any tax on virtual currency. Because it’s not property. A virtual currency only.

I heard the news what you shared. I think adding tax in case of cryptocurrency is not a good idea. Because it’s a cryptocurrency, not any property. We use cryptocurrency to buy anything from online. There shouldn’t be any tax.

Adding tax in bitcoin really make tough to survive bitcoin owners. As per me tax is the major reason of bitcoins fall. It shouldn’t

It is a matter of great sorrow that tax has been imposed and if this kind of thing happens then it will become very difficult for the investors to survive here.

Although the IRS’s statements indicate Bitcoin as property but I don’t think the world is not taking it that way. It’s still considered and dealt as a currency I in the world especially in USA

I don’t think is situation will stay long. This kind of announcement of course the main reason behind the market crash but I believe this is temporary and the market will recover soon

Oh how it is possible to count tax on Bitcoin I don’t understand at all. The crypto market is not stable like properties. So it will be very complex to impose tax. I doubt that the process will work

many news hit the market everyday but bitcoin doesn't really get much effected by this and if you don't get influence by them then it will not make a big difference for the market so investors are the main to control the market

Bitcoin is responsible for market crash in order to cross the price. Because the market system was stable and there was no price disaster. But in the last year, Bitcoin can see that it will move very fast and bring profits.

I am not sure if this is the entire reason for the crash, but only partly the case. The only thing that will cause the market to grow at this point, would be from organic growth. 
     If you follow the market data of Bitcoin itself, then research news articles on days of the downtrending, you will see a persistent pattern. Everytime a major government agency, whether in the U.S, or Europe, China, etc, issues a statement of regulating policies regarding crypto, the news sends the market into a frenzy. Whenever there is news of a major crypto heist from hackers, the market goes into a frenzy.
    The U.S is the trendsetter when it comes to finance and politics. Other smaller countries usually wait until the U.S issues their guidance upon a worldwide matter before making any sudden advancements.
    With the recent news of the SEC postponing the Bitcoin ETF proposals, the market has gone into another frenzy. The more good news we receive from the governments, the more stable the prices will become, in my opinion!

Bitcoin is responsible for the market volatility behind the price reduction. Anything that can happen if the market is not stable. Because Bitcoin is the most popular, it will turn very fast.

Bitcoin prices have decreased slightly but there has been no such disaster for which there will be anxiety. It is natural that the price will decrease and increase. Bitcoin is dependent on liquids so prices can decrease or increase.

It takes a very strong taxation department of some countries to tax all physical businesses be it small scale or big scale. To be able to tax bitcoin owners effective and successfully will not be possible. Government should leave cryptocurrency alone.

I don't really think this alone can cause market crash to the extent we experienced of recent. Something else had added to it. So many bad news were released during the early days of the week and this caused why all the crash happens. Series of bad news.

Personally, i doubt if this is the reason behind the crash, i don't see any way that IRS can be able to enforce this going by the decentralization of the system, they are just blabbing if you ask me.

I am still confused as to why cryptocurrency should be regarded as a property thereby mandating people to pay tax on it. Cryptocurrency should be seen as money or currency and not as a property.

I agree since Bitcoin price is in Dip state now, But Im sure at the Q4 of the month it will rise again like last years happens.

I think It’s difficult for all to make a tax since Bitcoin value is unstable. There are some loopholes on this directive cause Bitcoin is not only a assets it is in fact a currency by which anyone can bye good in online.

i think tax maybe the main reason behind the crash of bitcoin's price. i think authority should create a rules regarding the tax issue. maybe this is the solution for this problem.

i don't think this is main issue for bitcoin's crash issue. maybe the tax has some impact on this issue. but i don't think this is the main reason.

The price of Bitcoin is very unstable so it is difficult to make a tax in it. There are many loops on this provision because it is not only a property but also a currency. Using Bitcoin you will be able to buy goods or products online.

Bitcoin prices are very volatile, so taxing is hard to do in this. And it is too hard to make a tax on Bitcoin where its market is even bigger than US market. You should follow the trends only. It will make you more profitable.

I think that this event is just an advantage for us to make a better living in this system. There's no other way to deal with that and I think it would be best to learn from that. Let's take the lesson it gave us and avoid doing it again. Now that the reason behind has been unfold we should really be careful next time and never do that again.

The current situation seems very confusing to me, too many perceptions about the fall in the value of bitcoin and altcoin. I think, the current situation tends to be due to the protracted discussion of regulation regarding bitcoin so that it greatly affects prices

I think it was more of maturity than just any other reasons. I think people did learn that what really is feeding the real value of bitcoin are the investors that buys it. And without any actual usage nobody will gain as much. So how did those early investors get their profit? So it is for certain that it was because many are buying and holding it and selling when others came in to invest such that holders gain from the investments of others indirectly.  And now these others we refer to might have made loses and now they are the ones who wanted to retrieve their invested money. And then as time goes by these investors have slowly made it outside the cryptoworld thus making the investor lesser by count. Which then makes the price low due to less demands.

Don't be anxious, Bitcoin platform is a big platform for investors and investing in bitcoin is very profitable for cryptopeole. It is very hard to track all of the transections and get their real identity.

That's normal because these months are called dead months. so all its investors have many needs to their owners so the ending, the collapse of the price of coins.

As far as the definition of taxation is concern, the government can not tax bitcoin because it is not a property of that particular country. The property is only taxed if it is acquired in the country by using its resources and its either manpower or natural resources.

The reason why the price of bitcoin was crash because of the bitcoin holders monitor the rules that are being implemented by various countries regarding bitcoin tax regulations but even that is happened keep fighting that the price go back quickly.

The collapse of the price is that the main manipulators are waiting for more people to enter the bitcoin precisely for this is the price drop.

We all know that all these crypto currencies are completely volatile in nature and therefore their valuation keeps on flactuation and varies according to market demand and supply and some flactuation in valuation is also contributed by the kind of investment so it is very obvious that higher the number of investors and higher the amount they are investing in crypto, higher will be demand and higher will be the valuation and after the December pump, there are lots of people who sold their coin resulting in decrease in demand and the crash in bitcoin valuation.

I think we can hardly impose taxes on bitcoins. So, this reason is unreasonable. This is mainly due to whales. They sell it in bulk. Many investors also keep quiet. They waited and did not want to invest at this time.

Bitcoin investors in the united states are selling off their crypto to pay off capital gain tax. First time investor in bitcoin are faced with large capital gain taxes from the profit they made in 2017.

There was a price rally in the last quarter of last year and when the big whales and institutional investors decided to exit from the market, it created a panic selling wave that resulted in the ultimate 65% correction in the market. I don't see any other strong reason for the market to fall in such a way.

Taxation is not the reason for price drop and this is not something that has occured for the first time. Even if it has some influence, it's not worth mentioning.
Besides, taxes are not payed on Bitcoin itself but on Bitcoin transactions or some Bitcoin related business.
In fact I don't agree with such theory at all.

Well, this is nothing new in the world of government vrs money making civilians. Governments are always trying to get something out of your profit making activities as such so far as you make profits, they won't leave you alone.

I dont think that tax evasion was the reason or the only reason for the retracement we saw in the bitcoin and the whole crypto market capitalization. There are many other things like the inception of bitcoin futures (which allows traders to make money even when bitcoin going down) and then there were panic sellers who sold when they saw the price keeps going down. It was just a normal market cycle and whales taking advantage of the situation in my opinion.

ETorro's chief executive, Russia, said that the flow of "mass market customers" seeking to participate in digital money flow led to a sudden rise in bitcoin prices to $ 20,000 in October. two.

"There are a lot of people behind bitcoin and other digital coins, and we should understand that soaring digital prices in the last few months are all related to a stream of money from customers," Verbitsky told RT. In the mass market, even retired people want to invest. "

Experienced investors know that the bitcoin honeymoon cannot last forever. Those who are slow are often punished by the market. "

"Successful diggers and investors know they need to diversify and that is how they make real money. Those who make money from ICOs will pay developers. "

Different sources come up with different results about the reasons behind bitcoin's price crash. I have read some sources but only one of those reason got my attention was the alleged Venezuelan oil-backed cryptocurrency Petro. No matter what the reason behind bitcoin's market price crash will be, i am optimistic that bitcoin will rise again soon.

I agree with the points that you made. The fact is that the IRS cannot track every single cryptocurrency related transaction due to the anonymous nature of this market no matter how much manpower they possess at the end of the day.

It is quite obvious that the primary reason for Bitcoin crashing in price is due to the fact that many investors were simply pulling out their profits due to the bans imposed by several countries scaring them and spreading fear.

It is really obvious that Bitcoin will have a correction like this. And I think that someday it will return or get even higher than the all time high. This will be an opportunity to buy now.

great. thank you for your link. i will read it.

I think I side with you, these revelations can be substantiated if bitcoin rises and the bull runs happens. This year has been filled with  several speculations in the world of bitcoin.

 bitcoin market fallen down and many analysis show different reason for this fall but I hope it will be come back again.

We dont also pay tax on bitcoin transaction but we are only paying for the miner's feein order for our transaction to be processed  .

Speaking of tax , i agree that bitcoin  cant be taxed because it is not regulated by the banks or goverment  . so i also agree that this theory isnt true at all .

The crash on the other hand is only caused by other factors such as manipulation and fuds  .

First of all, bitcoin is not only limited to United states and even if we believe US citizens are dumping bitcoins to avoid taxes , then we cannot have such a major dump only because of one country. I think negative news all around and delay of  ETF is the major cause of recent dump.

LOL this will not be even applied to the while world,like in Asia in which majority of the countries that using or having bitcon has no regulation about bitcoin so how can you out taxes on them?zthis in a jok dude because remember that bing decentralized market we are not covered by the laws fromach countries unless you are a miner or unless your country has a regulatory commission thats pointing towards crypto

I think this will be burdensome for those who have bitcoin, and if with high taxation they will charge the crypto holders, but I hope there is an equally beneficial solution.

I think we do not need to know much, because then the bitcoin will rise again and people will forget it. Now is the time to relax after the profitable business that many people will probably lose, not just anyone. Keep calm and bitcoin will come back ;D.

l don't believe many countries are against bitcoin , this is just simply manipulation in the crypto market  and also politics playing around bitcoin price action movement , the Government are control by individual politician that saw opportunity to use their veto power to control how the price of bitcoin is been move with respect to time through the medium of fake news that scared trader to sell at low . most countries that kick against bitcoin now encourage their citizen for example the south korea trade crypto asset.