Bitcoin prices may drop by the 17th this month

[RothsCoin]

At the moment, cryptocurrency markets are still looking bleak, Bitcoin specifically stands at $6.924,57.

As we know the IRS are clamping down on the taxation of cryptocurrency assets in the wake of the 2017 and therefore the IRS are expecting many returns from people who benefited from the market boom. They have calculated that there is around $25billion worth of capital gains which are taxable within the USA.

Matthew Frankel stated that “Many people who made lots of money on cryptocurrencies in 2017 likely don’t have the cash on hand to cover their capital gains taxes, so they may need to sell additional cryptocurrency holdings in order to raise the cash to pay the IRS. Considering that the entire (worldwide) cryptocurrency market cap is currently $258 billion, the $25 billion in possible U.S. capital gains tax liability is a relatively large amount of money.”

Rightfully, Frankel describes that this isn’t the case for everyone. However, the key thing to take away from this is that if indeed Frankel is right, there will be a big sell off, of Bitcoin, and other cryptocurrencies very soon. Since it takes a few days for currencies to move through exchanges, many of these transactions may have already been established so the sell off could all happen at once. This may have quite a big impact on the value of cryptocurrencies, specifically with Bitcoin in mind.

Rothscoin team.

[nwanne]

I read about the news and it's speculations no one actually knows what will happen, let's cross our fingers and watch what will happen, but I don't think US control the crypto market, if it is Asia country then I might agree. In all let's watch and see 17th is almost near.

[Noobaru]

Will they have to pay the IRS for any gains from trading before the laws and regulations came out? Because in our country, mining is taxed, but trading is not. And they will quite possibly tax trading too in the near future. And when that happens, people that traded and cashed out their gains through bank accounts will have to pay taxes even if in the past there were no laws for that. I think that is only possible here, since it is utterly absurd in my opinion to pay for your actions that were conducted before new laws came out and were considered totally legal.

[adaseb]

I don't think this has an effect anymore.

Basically if your taxes are due on the 17th your payment already needs to be in the mail by then and you can't sell in the last few days.

It takes a while for the exchange to process your withdraw, you wouldn't do this last minute. Plus there could be bank delays.

[bunny0612]

When everyone think that, whale think back. Just think about it, if everyone know btc price drop by 17th why they don't sell right now and buy back later at 17th. I think it not effect anymore. IMO, prices will drop slightly due to people thinking like you and whale will buy the place you sell

[sourish]

I don't think this has an effect anymore.

Basically if your taxes are due on the 17th your payment already needs to be in the mail by then and you can't sell in the last few days.

It takes a while for the exchange to process your withdraw, you wouldn't do this last minute. Plus there could be bank delays.

I agree, these news clips just bring out latent fears and feed the hype into a false storm.

[frroody]

how tired these news, bans and more slag. Rather, the market again grew infinitely.

[kingkats0803]

I don't think this has an effect anymore.

Basically if your taxes are due on the 17th your payment already needs to be in the mail by then and you can't sell in the last few days.

It takes a while for the exchange to process your withdraw, you wouldn't do this last minute. Plus there could be bank delays.

I believe the same.
I don't think this has any effect anymore. Predicting something out from this localized regulation doesn't have any global effect and way too easy to predict. Which would mean that many would have countermeasures by then to prevent this highly predictable drop.

[gloporo]

I very much doubt that this will happen.  I think that btc will rise in price in a couple of months.

[kirstiemorton23]

The current market is very vulnerable to manipulative information, news, or rumors. Only a problem that somehow from its source could have an effect on increasing or decreasing the price of coins. I am not too concerned with this news

[sangkler11]

yes this month the cryptocurrency market is still bleak, but I don't think bitcoin prices can fall below $ 6000, if it happens we will be harder to climb back.
late alone lately so many bad news and rumor that makes bitcoin prices dropped dramatically.

[cryptotsunami]

I doubt it, there is no clear regulation regarding cryptocurrency. They can only tax them if the law have a clear regulation in cryptocurrency. Besides I don't think the US will try to control cryptocurrency. This is part of the FUD that is circulating in the forum and create panic, but long term holders are already immune with this tactics.

[dammeer]

I also sit and think if there will be growth or not. emotionally hard to believe that there will be growth, it seems that everything is doomed. But if you believe the story, then before a strong growth, someone also thought that everything was ergonomic, and then everything started to rush up.

[chris200x9]

Matthew Frankel stated that “Many people who made lots of money on cryptocurrencies in 2017 likely don’t have the cash on hand to cover their capital gains taxes, so they may need to sell additional cryptocurrency holdings in order to raise the cash to pay the IRS.

How one can assume what people are doing? He is what future teller?

These experts might be paid to spread this kind of news so that small investors may sell in a panic and bigger players can make money from this news. People who are dealing with cryptos are not small kids and if they need to pay tax then they would have already planned for it. They will not do selling in last minute at a loss.

Don't believe on these fake news and sell your valuable coins at a loss.

[covfefe_]

Well, the graph shows a different story. The currencies have already reached their lower level and got the supporting pillar. The Buy orders are increasing while the Sell orders are decreasing and for last 7days the coins had a steady growth.

[Nunoluck]

It means that that is good chance to buy bitcoin. Then probably I will buy more bitcoin. Sometimes I want to ask a question for those who sell bitcoin at the low price, "why you sell your bitcoin now? This is not the right time to sell, isn't it?"
The right time to sell bitcoin is when the price go up.

[powermagic]

we do not know what will happen on that date, it's good if we keep thinking optimistically so that what we do get the best results

[AlexaSonda]

I do not believe this, if it is true they must have prepared everything to pay their taxes. If they sell to pay for its shortcomings, it will not be much and I think it will not affect the market.

[ariscan]

not necessarily on the 17th this price is getting down. even sebalaiknya could be on the 17th bitcoin prices suddenly soar high. we can not predict when prices will rise and fall.

[tonylewisverdu]

I think over hal of what we read about crypto is total bs. and an easy excuse for everyone  to puta false reason to market movements. the 1% make the market move and doyou think they pay taxes? the 1% have all sorts of ways around paying tax. and the smaller investors who do pay tax do not effect the market much at all.