Tom Lee is the best one on CNBC and 1 of only 2 worth listening to on that station. Big fan!

Hi jrcornel,

Tax time affect us all even the big exchanges,,,
I did not think about the tax payments to affect the price of cryptos to stay bearish for the last 3 months.
Make sense after reading this valued content by you.
I can not wait til after April 17 th this year for the price to go up again, hopefully.

That makes sense, on some level. The first quarter is over and even though there was a brief upward blip in Steem and a number of coins, it doesn't seem to be holding. That the selloff is related to taxes makes a little more sense, especially since the current tax season comes on the back of a year of amazing gains. 

At least it's a better sounding theory than simply settling in for a protracted Bear market because the "bloom has come off the rose" for cryptos, in general.

=^..^=

This is outrageous, Cryptocurrency refers to as a property. The tax are way too high. Anyway, thanks for the info

Funny thing is, if their fiat currency tax system was replaced by a totally transparent and open source encrypted distributed ledger system with basic kyc in this case C stands for citizen, based on the priciples of fair trade and democracy then we wouldnt see this because fraud would be impossible. But with a distributed ledger system we would never feel tax pains like we do with a debt based system anyhow, or have global market collapses. Etc

Mmh, in Belgium it is rather unclear what to do with the taxes. On one side they say if you did invest as a good dad, trying to protect the family funds, no taxes are required, on the other side if they can prove that you were trading to make a (fast) profit, they will claim 50% of the profit.
But were can we fill in the losses at the moment, can we deduct them from the taxes? Don't think so. The only reason the government wants to regulate things, is that they can have a share of the pie! The problem here in Belgium is that they already have more than half of my paycheck pie!

Thanks for sharing @jrcornel. This is a really important point. Tax period is a headache for me and seems to be the obstacle this march from an American point of view... but Korea is a different story. Tax day passed in the end of January and yes there was a correction in the exchange and some threats from the government for control.

@mineopoly

Also consider that other probably sold early January into February in order to defer payment of taxes on those gains until April 2019.  Therefore, those sells can be continued by these sales to pay for taxes.  Big pressure out of the market.  It could lead to less seller going forward so resistance levels could be easier to bypass.

Hi--I am brand new here, showing only my Original Art. Thanks fr checking me out.

I was wondering what impact enforcing taxes would have on the crypto market and I guess now I have my answer. There are many things impacting the current price but I hadn't really thought of the tremendous impact pulling money out to pay taxes would have. Many have been scrambling the past few months thinking that crypto is dead but we have seen downtrends before and they haven't lasted so I haven't worried. I appreciate the crypto posts that you share and the great info!
Ivy

Oh taxes. How can you tax me on something you say has no value?

You are only taxed if you sell. Don't want to pay taxes? Don't sell.

There was a stat that very few people actually report their crypto gains. Plus the US isn’t as big as Asian market so to say that the US is the primary reason for this decline doesn’t make any sense.

tax is exactly the reason why we want decentralized currency: the money is collected to feed fat and inefficient organization that does essentially nothing.

Yes it makes sense and with the crypto market down the tax sellers are going to have some losses to apply against their gains for their 2018 tax bill.

good post...again..see my just up post..bitcoin and more..thanks

It seems like common sense that taxes are pushing the price down. I'm looking forward to a (hopeful) pump in late April / May after all that stuff is taken care of.