Bitcoin prices may rise after April 17, when the US tax season ends. That's what co-founder Fundstrat - Tom Lee - predicts, the bulls are ready for the race.
- Bulls: only bull market.
Lee said Bitcoin prices fell in the wake of some sell-offs caused by investors trying to sell their coded amounts to avoid paying taxes.
Bitcoin's price has dropped to $ 6,600 from its highest level of $ 19,000 in December 2017. The average per capita income in the market has been declining over the past few weeks in the context of continued market receipts. The negative news as the prohibitions advertising the encryption of Twitter and Google. Later, MailChimp also participated in this battle.
However, Lee said selling pressure will ease slightly after the tax season passes. He estimated that US Bitcoin investors owe the government a $ 25 billion income tax return for 2017, thanks to the BTC's peak last year.
Lee said:
Selling pressure of bitcoin copper will be reduced after April 15.
Lee, however, warned that besides Bitcoin prices being affected by the tax season, it was also affected by pressure from governments.
Recently, market analysts have seen the Misery Index fall to the lowest level since 2011. But that's really good news for pre-codec fans, because the lower the index, invest in BTC as possible.
Lee said that when Bitcoin's Misery Index fell below 27, Bitcoin would get the best result in 12 months. Last month, the index was at 18.8 on a scale of 100, when Lee said it was a good time to buy.
Lee added that the index was lowered to the lowest levels in November 2012, January 2015 and September 2016. In each case, Bitcoin prices rose next month.