Post
Topic
Board Bitcoin Discussion
Re: Reason Behind Bitcoin’s Price Crash Revealed
by
jagdeepjd
on 24/09/2018, 16:43:47 UTC
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.

I dont think that tax evasion was the reason or the only reason for the retracement we saw in the bitcoin and the whole crypto market capitalization. There are many other things like the inception of bitcoin futures (which allows traders to make money even when bitcoin going down) and then there were panic sellers who sold when they saw the price keeps going down. It was just a normal market cycle and whales taking advantage of the situation in my opinion.