Ninjastic
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Re: Deadline of tax payment in America is coming. Will the bull market appear again?
by
exstasie
on 18/04/2018, 23:37:05 UTC
Quote from: alyssa85 on April 18, 2018, 12:45:15 PM
Quote from: exstasie on April 18, 2018, 08:39:29 AM
Quote from: MiladMax on April 18, 2018, 07:58:08 AM
when is it??

The deadline is already past. It was yesterday (April 17th).

In fact, to comfortably have covered payments by yesterday, you'd have to have sold 1+ weeks ago. That lines up pretty well with that bottom in the low $6,000s. Quite a coincidence. Smiley

You realise that not everyone leaves this stuff to the last minute, right? Some will have sold in Jan in anticipation of paying taxes.

What's your point? Some people do wait until the last minute, myself included. I literally sent in my tax payments yesterday. Wink

And according to the tax-as-sell-pressure theory, even one person waiting until April means net sell pressure on the price leading up to the deadline.

You have to consider trading sentiment too. Most market participants hold onto losing investments. They don't realize losses until they absolutely have to. Because of the downtrend, it's likely many taxpayers held off selling until more recently. Think about it. Anyone who took profit in 2017 but reinvested the capital (tempting in a volatile market like BTC) needed to sell to cover the 2017 tax liability. Combine that with the downtrend market psychology I mentioned.