South Koreas government has reportedly imposed a tax on the domestic
Cryptocurrency exchanges.
To be specific, they will be subject to a 24.2% tax (22% coporate and 2.2% local income taxes). According to Yonhap News Agency, the government is also requiring exchanges to share the transaction data with banks.
Tom Lee, a strategy analyst, reckoned there would be a dramatic drop in Bitcoin price down to $8,000-9,000, followed by a sharp increase to above
$20,000 by the end of 2018.
This year is anticipated to be a rough, yet successful year to wise investors in this market.
RothscoinTeam.
Yeah, I don't trust this analysis or speculation at all.
This is crypto, it's decentralized and open source.
If I didn't want to pay those taxes there are SO many other places to trade.
And to say that because of this tax that btc will only reach 20k by 2018 seems incredibly misinformed.
The Korean market consists of less than 20% of the global market.
Taxes being imposed affect the exchange itself more than the trader. (even then, the trade is only paying 2.2%)
This also doesn't take into account macro economics and trade history.
So yeah, btc at 20k at the end of december?
Pshaw, it will be 20k by April, 60K by december.