Bitcoin price review by Tom Lee (the major analyst of Fundstar Global Advisors)

[zhangxie29152784]

Every good news is happy. I think it's not just American investors who are driving the price of bitcoin, because it's fragmented, and its price is controlled by market demand.

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[sparg]

I don't think that USA tax season made such an impact on BTC to make it "loose" 45% of value.
I am using commas because BTC never lost any of its value. If you look at the charts as you should be looking and analyzing the price trend from month to month we will see that BTC is in a continuous uptrend. We should ignore the 19000$ price that it reached because that was not a real price being done by a large scale pump. That price wasn`t a natural obtained price and should not be taken as a reference price.
When analyzing the charts we should ignore the pump period and we will see that all the markers are green for crypto investment.

[Bugsbey]

Bitcoin Price Rebounds After Tax season
https://lh3.googleusercontent.com/proxy/-MC86a_ddwkC2kEokt4qgmSUEVtUTCya6BYbzujy1rh6KpkHt7ZNzDZI8qFQDuZ1XMjruN_647RwbNRONfDPOcnilosUtpjViwT4eeJ4gGYSt31_ECFZSIrPaagnbxzYb7w=w530-h243-p
On Saturday, the Bitcoin price again reached the 9000 U.S. dollars mark. Tom Lee, the major analyst of Fundstar Global Advisors, was not surprised by this fact. In his opinion,  the negative impact on Bitcoin price was caused by the U.S tax season.
Read the full article here: https://www.xmlgold.eu/en/news/article/664/Bitcoin-price-review/

I think he has also a point. Maybe, if the country has a large population of investors or they have the biggest whales then they will really affect the price of bitcoin. Since America is a big country with lots of big investors they do affect the price of bitcoin.

[Weawant]

Bitcoin Price Rebounds After Tax season

On Saturday, the Bitcoin price again reached the 9000 U.S. dollars mark. Tom Lee, the major analyst of Fundstar Global Advisors, was not surprised by this fact. In his opinion,  the negative impact on Bitcoin price was caused by the U.S tax season.
Read the full article here: https://www.xmlgold.eu/en/news/article/664/Bitcoin-price-review/

I think he has also a point. Maybe, if the country has a large population of investors or they have the biggest whales then they will really affect the price of bitcoin. Since America is a big country with lots of big investors they do affect the price of bitcoin.

Well if majority of american's sell of their bitcoins then maybe they can really affect the market but if they are some of them just selling of due to unknown reason then its really bit sketchy to tell that they can since as I know major players doesn't give a shit on short term fuds since they surely all know that bitcoins would ever climb up again. But if USA.China and other huge country combine then maybe we can say that it is truly contribute to the dump coming.

[carlisle1]

Bitcoin Price Rebounds After Tax season

On Saturday, the Bitcoin price again reached the 9000 U.S. dollars mark. Tom Lee, the major analyst of Fundstar Global Advisors, was not surprised by this fact. In his opinion,  the negative impact on Bitcoin price was caused by the U.S tax season.
Read the full article here: https://www.xmlgold.eu/en/news/article/664/Bitcoin-price-review/

But after 4 days of resistance today drops lower than $9,000 again and denial begins to take over..

I am waiting for this GREAT ANALYSTS to make good explanation about this preview.

Is this another pump and dump strategies of the whales?or is there another issue that comes out

[evdoksi]

After three months the bitcoin price is increasing, it makes many investors who invest in bitcoin. There are some positive news coming about bitcoin. Hereafter the bitcoin values is increasing day by day. So if you have funds just invest in bitcoin and save the bitcoin for future. In future the price will touch the moon. Like last year this year also the price of bitcoin will be break the record.

Even then the growth is nothing when compared to last year. If you see the prices now, it is again in red for last 24 hours which is even more surprising.

[parobber]

Bitcoin Price Rebounds After Tax season

On Saturday, the Bitcoin price again reached the 9000 U.S. dollars mark. Tom Lee, the major analyst of Fundstar Global Advisors, was not surprised by this fact. In his opinion,  the negative impact on Bitcoin price was caused by the U.S tax season.
Read the full article here: https://www.xmlgold.eu/en/news/article/664/Bitcoin-price-review/

But after 4 days of resistance today drops lower than $9,000 again and denial begins to take over..

I am waiting for this GREAT ANALYSTS to make good explanation about this preview.

Is this another pump and dump strategies of the whales?or is there another issue that comes out

There has not been 4 days of resistance, it was about half a day at best, the price approached 10k and then a lot of people took profits, then some panic set in and we saw the 10-15% fall. We reached some support and now the price will start climbing again. Probably 10k won't be broken on the 2nd time round, normally it's the 3rd time of asking.

[Rizky Aditya]

I always thought that the main holders,and therefore movers of crypto prices, were Asians. Any good news for cryptos is welcome.

No doubt that Asian holds most of the bitcoin but they have no impact on price. I think that it is the trend of the people which cause for the price changes. If we observe the price in the last few months there is lot of up and down. Different people have different thoughts about bitcoin price rise and fall, but the most powerful reason is interest of the people.

[SolomonSollarsNSense]

Bitcoin Price Rebounds After Tax season

On Saturday, the Bitcoin price again reached the 9000 U.S. dollars mark. Tom Lee, the major analyst of Fundstar Global Advisors, was not surprised by this fact. In his opinion,  the negative impact on Bitcoin price was caused by the U.S tax season.
Read the full article here: https://www.xmlgold.eu/en/news/article/664/Bitcoin-price-review/

It should not be happen. Why US tax season effect bitcoin price? It is not their local currency and not they are mining all the stock of bitcoin. I strongly condemn it. One country should never have any impact on bitcoin price. Investment ratio can change the price. When investment increases the price grows and when people withdraw their money the price falls.

[krauzzer02]

The Mt.gox trustee was started to panic sell when it started to bites the ATH last quarter of the year don't believe that it is a panic sell though, it is the fault of the mix events and news lately, market corrections, Fuds due to the advertisement bans throughout the famous platforms and the tax season this April that's why it got pretty beat up, recovery takes it time to break the resistance of 10k USD as it is fluctuates around 9k USD.

[jaysabi]

I don't think that USA tax season made such an impact on BTC to make it "loose" 45% of value.
I am using commas because BTC never lost any of its value. If you look at the charts as you should be looking and analyzing the price trend from month to month we will see that BTC is in a continuous uptrend. We should ignore the 19000$ price that it reached because that was not a real price being done by a large scale pump. That price wasn`t a natural obtained price and should not be taken as a reference price.
When analyzing the charts we should ignore the pump period and we will see that all the markers are green for crypto investment.

This is a silly reason. The price might have spent a short amount of time at the ATH, but it spent weeks around it on the way up and down. In that time period, there were thousands, if not millions, of transactions that took place of people ratifying the price level and the valuation. You cannot write it off because it interferes with your thesis. The fact remains that the price suffered a 60+ percent drop because it was a bubble that was unsupportable, not because it was a 'fake price.' The price was very real to every person who bought or sold at those levels, and it continues to be down significantly from there.

[Beerwizzard]

Well, according to this logic we should have a good dump now. Bitcoin holders shouldn't be taxed for holding crypto. Income tax is usually taken after selling your coins as a % of your benefit from holding crypto. At least this is how it is supposed to be. So it seems like people should cash out now if they didn't want to be charged at the previous year.
All those forecasts are absolute bullsit. People are pointing on the correlation between BTC price changes and tax year, bangladesh interest rate changes, penguin season migration etc. But no one was bothered enough to prove that this correlation really exist. If Tom Lee says that this somehow influenced the BTC price then I expect him at least to make a survey among the US crypto holders asking them why they bought / sold their coins and when.

[jaysabi]

The Mt.gox trustee was started to panic sell when it started to bites the ATH last quarter of the year don't believe that it is a panic sell though, it is the fault of the mix events and news lately, market corrections, Fuds due to the advertisement bans throughout the famous platforms and the tax season this April that's why it got pretty beat up, recovery takes it time to break the resistance of 10k USD as it is fluctuates around 9k USD.

The Mt. Gox trustee was not panic selling because he doesn't have the discretion to panic sell. He's simply following the orders of the court, and the court sets the instructions on how much the trustee is allowed to sell. Price at any particular point has less to do with it than you think because the trustee doesn't set the price parameters or the time parameters, he is only authorized to liquidate holdings to the point he can satisfy the debt obligations he has been authorized to meet, and has to do so within a reasonable or strictly set amount of time. So price probably factors very little into the decision to sell.

[jaysabi]

Well, according to this logic we should have a good dump now. Bitcoin holders shouldn't be taxed for holding crypto. Income tax is usually taken after selling your coins as a % of your benefit from holding crypto. At least this is how it is supposed to be. So it seems like people should cash out now if they didn't want to be charged at the previous year.
All those forecasts are absolute bullsit. People are pointing on the correlation between BTC price changes and tax year, bangladesh interest rate changes, penguin season migration etc. But no one was bothered enough to prove that this correlation really exist. If Tom Lee says that this somehow influenced the BTC price then I expect him at least to make a survey among the US crypto holders asking them why they bought / sold their coins and when.

No, this logic supports the price rise and doesn't indicate a dump is coming at all. Crypto doesn't work like normal investments, you have to pay tax on every "taxable event," not only capital gains when you sell. A taxable event is every time you exchange one coin for another, so if you buy Bitcoin and convert to XRP, that's a taxable event. You're liable for the taxes immediately, not when you sell the XRP. When you convert XRP back to BTC, that's another taxable event, and then another when you sell BTC back to fiat. So if you were trading a bunch of alts, you owe taxes before you convert to fiat, which is why (the theory goes) people needed to cash out crypto holdings to have enough money available to pay their tax bills. I don't necessarily buy the thesis, but I can say that you look foolish for criticizing an idea you didn't even understand.

The correlation supports the claim, it is not the cause of it.