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Author Topic: Bitcoin in Bullish Mode After ‘Tax Day’  (Read 183 times)
Goozzi
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April 18, 2018, 07:59:38 AM
 #1

‘Tax Day’ in the U.S. is today, April 17, and a number of analysts are bullish on Bitcoin as the much-anticipated tax deadline should trigger the next upward momentum.
What do you think about it?
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April 18, 2018, 11:50:41 AM
 #2

‘Tax Day’ in the U.S. is today, April 17, and a number of analysts are bullish on Bitcoin as the much-anticipated tax deadline should trigger the next upward momentum.
What do you think about it?

Today is April 18 and I don`t see any BTC price increase.The price keeps moving between 8K and 8100 USD.
This proves my theory that the US tax season has little or almost nothing to do with the bitcoin market price trends.Why do people believe that USA is the most important country in the universe and everything that happens there always has a global impact? Huh
What`s happening in the Asian countries is more important for the bitcoin price.I read news that South Korea and Taiwan are going to implement new income taxes over the cryptocurrency users.Let`s hope that this isn`t true.
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April 18, 2018, 12:05:44 PM
 #3

I don't see any increase either.  Maybe it will go to 9k or perhaps back down to 7k.  But can't see any bigger upward swing any time soon. 
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April 18, 2018, 12:15:48 PM
 #4

I don't see any increase either.  Maybe it will go to 9k or perhaps back down to 7k.  But can't see any bigger upward swing any time soon. 

The price already increased right before the tax day, what do you expect? To go high within a day? Bitcoin is on bullish trend right now and since its stable at the price of $8k I believe that can be a strong support. Everything can happen but this time no room for bitcoin to go back on $7000 level again.

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April 18, 2018, 12:15:59 PM
 #5

Hopefully, there was an upward swing because of that Tax Day in the U.S.A. but an of now as what I have seen there's nothing any increase on cryptocurrencies still in the range of $8000. I don't think so if that has a real impact on the price movement of bitcoin.
Let's wait for further info regarding this events now.
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April 18, 2018, 01:03:05 PM
 #6

Hopefully, there was an upward swing because of that Tax Day in the U.S.A. but an of now as what I have seen there's nothing any increase on cryptocurrencies still in the range of $8000. I don't think so if that has a real impact on the price movement of bitcoin.
Let's wait for further info regarding this events now.
Yeah if seems that  bitcoin in still mode,  may be investors are just observing any possibility that  it's either positive or negative impact will occur, but it seems that it is going to be a bull run since it has no impact to crypto currency so we will expecting that  any time it will happen,

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April 18, 2018, 02:10:19 PM
Last edit: April 18, 2018, 04:40:33 PM by tomahawk9
 #7

‘Tax Day’ in the U.S. is today, April 17, and a number of analysts are bullish on Bitcoin as the much-anticipated tax deadline should trigger the next upward momentum.
What do you think about it?
Tax day dealine was extended to April 18th due to a website malfunction, so I think we're gonna have to wait until tomorrow to see if there's going to be enough momentum (right after 'Tax Day') to trigger another pump in the price.

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April 18, 2018, 02:28:38 PM
 #8

‘Tax Day’ in the U.S. is today, April 17, and a number of analysts are bullish on Bitcoin as the much-anticipated tax deadline should trigger the next upward momentum.
What do you think about it?
Tax day dealine was extended to April 18th due to a website malfunction, so I think we're gonna have to wait until tomorrow more to see if there's going to be enough momentum (right after 'Tax Day') to trigger another pump in the price.

But it doesn't make sense to me why the end of tax day on US will push the price of bitcoin? Does it mean that people will become to accumulate more after the tax day and they are dumping bitcoin to circumvent paying more taxes? I'm bullish about bitcoin but I don't think that it will bring a impact to the current price.

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April 18, 2018, 02:42:02 PM
 #9

Probably a sudden jumb due to a large amount of new investors to join, and also old investors to buy back their bitcoins.
But anyway I think that if nothing special is going to happen then the price will soon callback after and we  will keep stucking at the range of 7000$-9000$.
we need some regulators to recognize bitcoin as a sort of payment method and will be okay.

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April 18, 2018, 02:48:57 PM
 #10

‘Tax Day’ in the U.S. is today, April 17, and a number of analysts are bullish on Bitcoin as the much-anticipated tax deadline should trigger the next upward momentum.
What do you think about it?

Hasn’t been much of a rise but you could have a good point here, the price could very well start heading upwards. Finally seeing of taxes could lead a lot of people to buy.




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April 18, 2018, 03:27:09 PM
 #11

‘Tax Day’ in the U.S. is today, April 17, and a number of analysts are bullish on Bitcoin as the much-anticipated tax deadline should trigger the next upward momentum.
What do you think about it?

I don't think 'Tax Day' have that much effect in pushing Bitcoin price price. Bitcoin have already started recovering for past 5 to 6 days and it raised its price almost $1000 with in a day. Bitcoin price trend depends on many reasons and there is no specific reason as you mentioned to be the cause for price rise, even though your point is valid there is no spike observed in Bitcoin price.
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April 18, 2018, 04:14:21 PM
 #12

Still the same and bitcoin hasn't moving from $7,900 - $8,100 and it remains the same.
Tax day dealine was extended to April 18th due to a website malfunction, so I think we're gonna have to wait until tomorrow more to see if there's going to be enough momentum (right after 'Tax Day') to trigger another pump in the price.
Ohh this might be the reason why we aren't seeing some actions lately. We have to wait until this day ends and see what will happen tomorrow and for the next days to come.
The price already increased right before the tax day
Effect before the event is also a big possibility but still there's nothing to lose to expect something tomorrow.

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April 18, 2018, 05:13:38 PM
 #13

I am just hearings this for the first time and we are going to see this will impact the market positively. We are going to see more bullish trend than bearish trends for the remaining days of the year. Bitcoin is going to grow in days to come and buying them now should be what we should be doing.

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April 18, 2018, 05:46:31 PM
 #14

‘Tax Day’ in the U.S. is today, April 17, and a number of analysts are bullish on Bitcoin as the much-anticipated tax deadline should trigger the next upward momentum.
What do you think about it?
Tax day dealine was extended to April 18th due to a website malfunction, so I think we're gonna have to wait until tomorrow more to see if there's going to be enough momentum (right after 'Tax Day') to trigger another pump in the price.

But it doesn't make sense to me why the end of tax day on US will push the price of bitcoin? Does it mean that people will become to accumulate more after the tax day and they are dumping bitcoin to circumvent paying more taxes? I'm bullish about bitcoin but I don't think that it will bring a impact to the current price.
Some people say that the mass sell-off that we saw last month was related to capital gains taxes (just people getting ready for Tax Day) so there's a high chance that once tax day is over, and investors get back into buying, the price could shoot up and trigger a new Bitcoin rally. Personally, I don't think we'll see a huge spike in the price right after tax day, but you just never knows what's gonna happen in this market....we'll just have to wait until tomorrow.

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RamonBTC
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April 18, 2018, 06:03:04 PM
 #15

The FUDs is starting quietly disappearing and this US tax season ends. I can smell storms of investors coming again that will bullish run the market at higher than 10000$ within a week from now.
 It just my observation, silence means something and just one good news of bitcoin giant or whales this can end up to be a good start.

I’m optimistic or hopeful at this days, don’t get me wrong I’m just as speculative as others does.
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April 18, 2018, 08:28:16 PM
 #16

‘Tax Day’ in the U.S. is today, April 17, and a number of analysts are bullish on Bitcoin as the much-anticipated tax deadline should trigger the next upward momentum.
What do you think about it?

US bitcoin market is significantly smaller than Asian bitcoin market.

I don't think it's a proper trading strategy to connect a Tax day and some bullish expectations. I don't think it will trigger another rise.


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April 18, 2018, 08:42:42 PM
 #17

Today is April 18 and I don`t see any BTC price increase.The price keeps moving between 8K and 8100 USD.
This proves my theory


Dont deal with absolutes and you will have less disappointment in expectations or observations.  An immediate change in price is usually quite artificial where as the effect of less sellers occurring in concordance will be an ongoing bullish change in sentiment.    These kind of price changes are an effect underlying the normal market trade, it accumulates into a price change but its not a force that appears and waves a flag to make itself clear.

Life would simple if we could always observe exactly why, but its not a mystery either from my point of view.  I see the market as resembling chaos theory, its not random its natural but also very hard to track and predict.   Which is good because that leads to long term investment being needed to capture gains otherwise lost unexpectedly in days you didnt expect a higher price.   Market never really does what we want.

The biggest bar or move recently was linked to BTC shorts being cancelled out.  Some people called that out as impossible or fake but it kinda matches on both sides.  Where as this tax event is just a slow drip from a tap being turned off and its repeated annually anyhow, it maybe relates to the bigger changes in the last 12 months also.

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thecodebear
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April 18, 2018, 09:28:27 PM
 #18

considering that according to IRS reports hardly anyone is paying their taxes on Bitcoin I really don't think the end of tax season will create any sort of push in the price. It'll probably go a bit higher this month, maybe we'll even see $9000 this month, but I don't think it will be because of taxes. Also people who did have crypto related stuff on their taxes probably didn't wait until the last day anyways since it is very confusing how to treat crypto trades. I did my taxes a bit over a week before the deadline just to make sure I didn't run into any trouble figuring out the crypto stuff.
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April 18, 2018, 10:18:27 PM
 #19

‘Tax Day’ in the U.S. is today, April 17, and a number of analysts are bullish on Bitcoin as the much-anticipated tax deadline should trigger the next upward momentum.
What do you think about it?

I'm honestly not sure as to if it actually has any significance, but since Tom Lee did say that bitcoin was going to return to bullishness after Tax Day, the hype from that alone is going to be enough to push prices upwards after Tax Day imo.

That's the thing with bitcoin's price movements, it's influenced by media a lot, and sometimes the predictions/events doesn't even have any real significance.

But I do expect short term prices to rise to $9k or so in this or next week. The support at $8k seems to be mounting at the moment and is quite strong already. But after BTC gets to around $9.5k or so, the market sentiment will most likely turn bearish again and the downward slope will continue for the next few months, before a recovery late this year or early next year.

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April 18, 2018, 11:23:20 PM
 #20

Well that day has passed and there wasn't any real change, of course it would be foolish to expect it to happen all at once. If it were to happen it would be more in the form of a reversal than a quick recovery. I do believe that we've maybe already seen that in effect however. Many people will have resolved their tax positions before the date and could have re-entered the market already.

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