|
Title: Why BTC pumps at the end of the year... Post by: Trollinator on July 15, 2018, 10:18:40 AM Everyone is waiting for the big bitcoin pump at end of the year but very few people understand what’s behind this. The answer is very simple if you think about it. It’s all about taxes! The Chinese business fiscal year ends in December; like in so many other countries. As we all know, the majority of hash power on the bitcoin network comes out of China. Just think if you were a bitcoin miner would you run the price up middle of the year to have to pay taxes on your gains in just a few months? I think not. Bitcoin miners wait until end of the year to pump the price up and cash out in January; offsetting tax payment until the end of the next year. So Forget all of the guesswork and just hold!!!
Title: Re: Why BTC pumps at the end of the year... Post by: sarfwr on July 15, 2018, 10:21:13 AM I don't think it has anything to do with Chinese taxes.
Because most of the current bitcoin mining effort isn't in China, but is spread across countries, there's no correlation. Title: Re: Why BTC pumps at the end of the year... Post by: Trollinator on July 15, 2018, 10:30:06 AM I don't think it has anything to do with Chinese taxes. Because most of the current bitcoin mining effort isn't in China, but is spread across countries, there's no correlation. https://www.google.co.jp/amp/s/cryptona.co/amp/china-largest-bitcoin-mining-capacity-75-percent-world Title: Re: Why BTC pumps at the end of the year... Post by: arjuna BTC on July 15, 2018, 10:42:44 AM for me,, because at this time bitcoin and most of cryptocurrencies are in the bottom zone
so, i believe in the end of this year or maybe will continue until the beginning of 2019, the price will be at the TOP |