The reason for Bitcoin "crash" after year has changed is simple = Income tax

[WilderX]

Whales and smaller fishes dumbing their cryptocoins(that is including all altcoins) for FIAT after year has changed so they can avoid paying the taxes on the profits until in 2016.

If they had switched to FIAT in 2014 they would be paying the taxes for those porfits now in 2015. This gives them options and room to maneuver for more profits with their holdings.

And this is especially BIG deal in countries where income taxation is very high.

[jonald_fyookball]

...You mean from people that bought when price was $100 or something and want to cash out now.

Could be a small factor, but not much more, IMO.

[WilderX]

...You mean from people that bought when price was $100 or something and want to cash out now.

Could be a small factor, but not much more, IMO.

BITCOINS + ALTCOINS my friend. Everyone wanting to turn their altcoins into FIAT mostly have to go trough BTC.

[jonald_fyookball]

...You mean from people that bought when price was $100 or something and want to cash out now.

Could be a small factor, but not much more, IMO.

BITCOINS + ALTCOINS my friend. Everyone wanting to turn their altcoins into FIAT mostly have to go trough BTC.

Something tells me that people that made money pumping alts aren't in a rush to cash them out to pay taxes on them.

[WilderX]

...You mean from people that bought when price was $100 or something and want to cash out now.

Could be a small factor, but not much more, IMO.

BITCOINS + ALTCOINS my friend. Everyone wanting to turn their altcoins into FIAT mostly have to go trough BTC.

Something tells me that people that made money pumping alts aren't in a rush to cash them out to pay taxes on them.

Well for those who plan on cashing their profits beginning of year is the perfect time for cashing since they won't need to pay the taxes on them until the next year.

[CoinRocka]

Whales and smaller fishes dumbing their cryptocoins(that is including all altcoins) for FIAT after year has changed so they can avoid paying the taxes on the profits until in 2016.

If they had switched to FIAT in 2014 they would be paying the taxes for those porfits now in 2015. This gives them options and room to maneuver for more profits with their holdings.

And this is especially BIG deal in countries where income taxation is very high.

What countries are looking for Crypto profits currently? I really doubt this is a concern.

Your sig made me laugh, thanks for that!   

[Foxpup]

[needFREElunch]

I am not so sure about this one. I think there are a lot of whales that purchased in late 2013 and early 2014 at prices much higher then we are at now. If you were to use the same logic then they would have sold late last year in order to lock in a tax break for this years taxes

[iGotSpots]

That is not smart to do with capital gains (losses)

[WilderX]

I am not so sure about this one. I think there are a lot of whales that purchased in late 2013 and early 2014 at prices much higher then we are at now. If you were to use the same logic then they would have sold late last year in order to lock in a tax break for this years taxes

Again not just Bitcoin, BUT altcoins as well everyone who made profits from altcoins traded them for BTC first and then they dump the BTC for FIAT

[flipstyle]

Keep trying to convince yourself this.

If you haven't noticed, the bitcoin charts over the past 3 years are a spot-on definition of a bubble market.  

It's been steadily and rapidly decreasing in value hard over the past year.  This has nothing to do with 'taxes.'  Sure, you might be able to make some profits by daytrading and trying to short the falling chainsaw...but the holders will be burned.

Want an even better example?  Gold and silver.  Those hoping for bounce backs to the $1k mark are living in a pipe dream.

The market is not gaining the worldwide adoption it needs to gain traction.  And no, I'm not talking about being accepted at outpost.com or a few random mom and pop shops.  I'm talking about the bigger picture.  And certainly, with the sharp decline and price volatility lately, the large corporations are going to most likely keep avoiding t. 

Was fun while it lasted.  

GL to you all, though.

[Bitcoinpro]

and they have to buy it back more expensive too  which means new highs before october

[smalltimer]

Bullshit - not  on January 3rd

this is such a fake-thread

"permabulls" aka early investors at the coin-selling to the noobs again?

Are we going to the moon now? Please tell me we are going to the moon.

[LiteCoinGuy]

Bullshit - not  on January 3rd

this is such a fake-thread

"permabulls" aka early investors at the coin-selling to the noobs again?

Are we going to the moon now? Please tell me we are going to the moon.

we already went to the moon (1k usd), there was nothing there.

moon is more like 10k isnt it  ?

[DannyHamilton]

Bullshit - not  on January 3rd

this is such a fake-thread

"permabulls" aka early investors at the coin-selling to the noobs again?

Are we going to the moon now? Please tell me we are going to the moon.

we already went to the moon (1k usd), there was nothing there.

moon is more like 10k isnt it  ?

Nah.  Moon is dollar parity.  Anything after that is interstellar space.

[celebreze32]

Bullshit - not  on January 3rd

this is such a fake-thread

"permabulls" aka early investors at the coin-selling to the noobs again?

Are we going to the moon now? Please tell me we are going to the moon.

we already went to the moon (1k usd), there was nothing there.

moon is more like 10k isnt it  ?

Nah.  Moon is dollar parity.  Anything after that is interstellar space.

Is 10k alpha centauri then?

[DannyHamilton]

Bullshit - not  on January 3rd

this is such a fake-thread

"permabulls" aka early investors at the coin-selling to the noobs again?

Are we going to the moon now? Please tell me we are going to the moon.

we already went to the moon (1k usd), there was nothing there.

moon is more like 10k isnt it  ?

Nah.  Moon is dollar parity.  Anything after that is interstellar space.

Is 10k alpha centauri then?

10k?

That's Narnia, or Neverland, or Wonderland, or some other fantasy.

 

[qxzn]

Whales and smaller fishes dumbing their cryptocoins(that is including all altcoins) for FIAT after year has changed so they can avoid paying the taxes on the profits until in 2016.

If they had switched to FIAT in 2014 they would be paying the taxes for those porfits now in 2015. This gives them options and room to maneuver for more profits with their holdings.

And this is especially BIG deal in countries where income taxation is very high.

This is actually a credible story because of Mtgox. Since the settlement is likely to happen this year and produce large losses for some, those who lost a lot at gox but still had large gains they were looking to cash out had an incentive to wait until 2015 so that the gains and losses cancel each other. If they had sold for a large gain in 2014 and then had a large capital loss in 2015, they couldn't pair them off and the large capital loss is almost useless (you can only claim up to $3000 of capital losses against your ordinary income).