Bitcoin Analysis: What is expected after the "Tax Day"? - With Chart Analysis.

Yesterday, April 17, the long-awaited "Tax Day", where analysts were positive to continue the Bitcoin bullish trend, considering it as a day of great importance, since that was the deadline for the payment of taxes in the US and therefore Bitcoin could give the "big jump".

  After all this time in which the cryptocurrency market has been dying, part of it is attributed to the "futures market" in December 2017. Since then, it has faced great difficulties, both regulatory most, as well as the attack of large media, throughout this year. Since then when Bitcoin, it has been valued at $ 20,000 with a capitalization of $ 324 billion, at a value of around $ 8,000 - $ 8,200 a few days ago, in addition to a capitalization of $ 138 billion.   

  In this way, the cryptocurrency market generally went from being a stock market capitalization of approximately $ 826 billion to $ 341 billion at the time of writing. But the long-awaited "Tax Day”  I arrive and the Bitcoin value continues with some indecision.  

"In a statement the IRS indicated that the deadline to pay taxes would be until today April 18 for failures in it web". 

  According to the IRS says: 

"The cryptocoins constitute a property and therefore are subject to taxes."   

 

 Analysts indicate that institutional investors can rejoin the cryptocurrency market after the date, so this could trigger a new bullish path. 

  According to the upward movement of 1300% in the Bitcoin price chart, it should generate a total of $ 25 billion in taxes, due to holdings in digital currencies for the US. The expert Tom Lee, head of research at Fundstrat Global Advisors. He said that 30% of the capital gains of $ 590 billion of the cryptocurrencies in 2017. For a tax rate of 27% on the taxable profit of $ 92 billion would mean that US holders have a total debt of $ 25 one billion 

  Some Predictions:

•     "According to Tom Lee, he predicts that Bitcoin will reach $ 20,000 again by mid-year and $ 25,000 by the end of 2018. By early 2020, there is an estimate that the cryptocurrency will be worth $ 91,000."  

•   On the other hand, Dan Morehead, founder and CEO of Pantera Capital, predicts that there is a high probability that Bitcoin will surpass $ 20,000 this year.  

•   In the same order of ideas, Tim Draper, who is one of the first to sponsor Tesla, Skype and SpaceX, predicted that Bitcoin would reach $ 250,000 by the year 2022. And in a very positive way, he hopes that in 5 years they can laugh at anyone Try to make a payment in fiat currency. 

  After such a long-awaited day, Bitcoin continues to fight to break the $ 8500 resistance area, it is very likely that the expected behavior was not seen due to the fact that they gave one more day, we hope that in the next few days the rupture of the same, to continue with the rally and give that expected jump that everyone is looking forward to.  

Bitcoin Chart

In this small graph we can appreciate the moment when a strong movement breaks the formation of a possible "shoulder shoulder" that could return us to the bearish trend line, but as you can see the market seems to continue upward.