Walmart Analyst Thomas lee said that the bitcoins huge plunge in the crypto market after the huge hit last december will come to a stop after the tax filing by mid April and more than $ 25 billion holdings will be taxed. The bitcoin market plunged to 50% because of the uncertainty of regulating bitcoins. Lee is of the opinion that there are more chances for the price of bitcoins could increase above $ 20000 USD by mid year and could hit upto $ 25000 USD by year ending, let's wait and watch what is going to happen in the crypto market after April 17th, hope that bitcoins will start to recover and so does altcoins.
Ok this is what I'm suspecting why Lee is very bullish about bitcoin, it has something to do with the filing of tax. So when everything has settled already, he was expecting that people will then have the cash to pour into the market because tax season is over.
I don't know though if we can get to it by April 17 or one month later. But what I really do believed is that just maybe, more investors will have renewed their interest on the market once they have settled everything specially their tax duties.