Reason Behind Bitcoin’s Price Crash Revealed

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Early investors in Bitcoin are faced with large capital gain taxes from the profit they made in 2017.

Read more here: https://smartereum.com/5636/the-real-reason-behind-bitcoins-price-crash-revealed-tue-aug-7/

Qoute from that link,way back 2014 IRS made an announcement that crypto's are defined as a property and not a currency.
So as such they are entitle to pay thier taxes as property owners.

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[talkbitcoin]

but this h as not changed ever since IRS put forth clear rules back in 2014 and not to mention that the tax deadline thing was a couple of months ago. it had nothing to do with now.

on top of all that you are missing the important point that bitcoin is a global currency with markets as big and some even bigger than the market in US!

[Pump N Dead]

It is hard for them to make a tax since Bitcoin price is very volatile. There are many loopholes on this regulation because Bitcoin is not only a property it is in fact a currency where you can buy goods online.

[anrian062]

Early investors in Bitcoin are faced with large capital gain taxes from the profit they made in 2017.

Read more here: https://smartereum.com/5636/the-real-reason-behind-bitcoins-price-crash-revealed-tue-aug-7/

Qoute from that link,way back 2014 IRS made an announcement that crypto's are defined as a property and not a currency.
So as such they are entitle to pay thier taxes as property owners.

So, this is some question i want to ask;
1. How can IRS make a conclusion thay cryptos is a property? And how much power the IRS is to defined it?
2. Even if this true. How to track all transcation from 3-4 years ago and get their identity with decentralized system? Using what punishment?
We talk about investors globally, i do not think it is possible. Added with different tax regulation in some country.
Please share your thoughts

[close up]

I'm not sure how this news will cause the bitcoin price crash moreover since Bitcoin likely doesn't get affected of news, it just following the trends.

[franky1]

firstly
anything is a currency. even stocks, shares, bonds. its then importand to define what CLASS of currency it is
majority of countries are correct that it is an ASSET class currency
it is not a commodity. nor a legal tender fiat.

secondly stop calling all these things a DUMP.
prices move up and down. accept it. and especially accept that you should never stand at the high and look down. always stand at the bottom and look up.. looking bottom up will save your sanity and will adjust your thinking to be more rational.

thirdly
its the wrong tim of year for thinking of taxes and many of those who are big enough to be whales and move a price considerably by themselves already know how to manage taxes without actually having to sell out.
think about it rationally . lets say USA.. if americans HAD TO cash out everything on tax day. then you would see every year on tax day the NYSE drop to zero because everyone has to cash out.
so people dont logically have to cash out. and so that busts the myth of tax being the reason.

fourthly
its more about the cost of obtaining it (mining costs) that are at play right now. the price is bordering the cost of obtaining it and the mining pools are reacting. one day 52exa the next 38exa meaning there is a cost swing of between $5k-$7k as the bottom line value (refuse to sell below support lines) so expect it to shift by $2k within a few days.. just learn to stand at the bottom and buy near the lows of average $6200 and sell for a few percent higher. stop getting emotional hoping for a $20k jump..  that $20k jump was never a sustainable point of value. it was a speculatd hype bubble. we may see $20k spike occur again medium term but based on value matrics it will be a whil before $20k is a sustainable bottom line value point.

dont stand at $20k peak looking down. it was never gonna last long at this time.
just enjoy the swings of prices as smaller percentages grab small percentages and repeat repeat rpeat. its less risky and will ultimately yield you mor then just waitin for a $20k ATH again

[Goruno]

It is hard for them to make a tax since Bitcoin price is very volatile. There are many loopholes on this regulation because Bitcoin is not only a property it is in fact a currency where you can buy goods online.

I agree with you and perhaps future bitcoin contract is possible to be included in this crash . the sharks are trying to creat some bad news for bitcoin as a good chance to cover cheap bitcoins before big waves.

[bigdaddyderp]

I seriously doubt taxes are the reason that the market has fallen this bad.  Its fallen significantly more than the tax bill would be if everyone had paid in full.  I think there are strong fores at play here during this year long pump and dump we just had.

[tomward]

Recently bitcoin market fallen down and many analysis show different reason for this fall but I hope it will be come back again.

[rileyhill]

Bitcoin is  a popular coins in a crypto but this  is not  a good time going for bitcoin. There are many reason work behind the crash of price . the  taxes are gaining it is a problem for the investor to invest a large amount.

[Chaotic Spirits]

I dont think Tax is the main reason of the falling. There are many more reasons as well. And, bitcoin is always voltaile. So, it's very natural to fall the price in my perspective.

[Akmaral ( Akee)]

Many people are against bitcoin and they create rumor against bitcoin. That’s why investors are afraid to invest more on bitcoin. For this reason its demand decrease and price also.

[Ibizugbe1]

Many people are against bitcoin and they create rumor against bitcoin. That’s why investors are afraid to invest more on bitcoin. For this reason its demand decrease and price also.

I don't think this is the major cause of price crash. We know many powerful people are against bitcoin, and there has been FUD since inception and there will always be FUD. I think the price fall is caused by heavy Mafia clique manipulations. They want to buy cheap and take a major profit.

[Bungarook]

I truly question charges are the reason that the market has fallen this terrible. Its fallen essentially more than the expense bill would be if everybody had forked over the required funds. I think there are solid powers having an effect on everything here amid this year-long pump and dump we simply had.

[heassy]

Many countries governments are against bitcoin. That’s why investors are confused to invest on this project. For this reason its price crash and i believe situation will change and price will rise again.

[Kaznachej123]

Early investors in Bitcoin are faced with large capital gain taxes from the profit they made in 2017.

Read more here: https://smartereum.com/5636/the-real-reason-behind-bitcoins-price-crash-revealed-tue-aug-7/

Qoute from that link,way back 2014 IRS made an announcement that crypto's are defined as a property and not a currency.
So as such they are entitle to pay thier taxes as property owners.

     The financial system is no exception to this increased volatility. Compared to financial systems of the past, the modern financial system is highly complex and interconnected.

[Cukfuk]

Tax systems in different strange are very different. But the common problem is the inappropriateness of taxes to the volatility of crypto markets.

[pugi2]

It is hard for them to make a tax since Bitcoin price is very volatile. There are many loopholes on this regulation because Bitcoin is not only a property it is in fact a currency where you can buy goods online.

Its the reason why bitcoin difficult to apply tax from government but if no tax then government will not so agree to legalize bitcoin.
This is the main reason of bitcoin or crypto loss in value. The government is followed by many people not to use crypto and caused crypto demand is low and of course the price is impacted.

[Nicolaus Copernicus]

I concur with you and maybe future bitcoin contract is conceivable to be incorporated into this crash. the sharks are attempting to make some terrible news for bitcoin as a decent opportunity to cover shabby bitcoins before enormous waves.

[VogueaNON]

In crypto market most of the coins are suffering for price based on this Tax cannot be the only reason for price fall of BTC based on this there are also other reasons behind this.