Tom Lee Explained Why Cryptocurrency Is Falling and When Bitcoin Will Start Growing
Tom Lee, the head of research at Fundstrat Global Advisor, reports that the date of the last filing of tax returns in mid-April contributes to the decline in prices for cryptocurrencies.
According to him, investors who have won large amounts on digital tokens sell some of their remaining packages. In his letter to investors on Thursday, he particularly mentioned that American traders owe the state about $25 billion in taxes from the income they received as a result of operations with cryptocurrencies.
In addition, cryptocurrency obligations should be also fulfilled by the cryptocurrency exchange markets, and some of them may also try to liquidate their assets in the coming days. He also added that historical evaluations indicate that the outflow of each dollar is reflected by a fall in capitalization of $20-25.
We would like to remind you that analysts has repeatedly said that Bitcoin would, most likely, reach new historical heights by the end of 2018.
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