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April 06, 2018, 09:52:06 AM |
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Tom Lee Lindstrat predicted a "massive outflow" of crypto-currency to Fiat on the eve of a tax day in the US, CNBC reported on April 5.
In the report, Lee notes that US investors have to pay $ 25 billion to pay capital gains tax, and crypto-exchange exchanges must pay income tax, and investors and exchanges will sell their crypto currency for paying taxes:
"We believe that the crypto-exchange exchanges that are subject to income tax in the US jurisdiction will put pressure on the sale. Many exchanges have received net profit of more than $ 1 billion last year and have retained working capital in Bitcoins and Ethers, and not US dollars, therefore, to fulfill these tax obligations, they will sell their crypto currency. " According to Lee, "according to historical estimates, every $ 1 outflow is $ 20-25 in the market of crypto-currency."
Crypto-currency markets showed a 50% loss in the first quarter of 2018, noting the worst results for BTC and ETH in the history of coins. Nevertheless, anyone who was a member of the crypto-currency market in December 2017 and watched the growth of the BTC price to $ 20,000, will have to pay a capital gains tax for its income.
The Bitcomin bad luck index (BMI) by Thomas Lee, developed in mid-March to show how "unfortunate" BTC holders are based on current prices, demonstrates that holders of crypto-currencies are currently experiencing "misfortune": "
"The risk from regulators is still significant. And the mood remains terrible, which is measured by our index, which still shows unhappiness. " Lee came to the conclusion that "ultimately, we expect Bitcoin to take a firm position after April 17, the tax day."
Lee recently predicted that Bitcoin would reach $ 91,000 by March 2020, based on the results of the BTC after past failures. In January of this year, when the BTC price was about $ 9,000, Lee told CNBC that BTC would reach $ 25,000 by the end of 2018, and not by 2022, as he had previously predicted.
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