Tom Lee. Selling pressure in cryptocurrencies could ease after tax day.
The mid-April income-tax filing deadline is contributing to crypto’s falling prices as investors who won big betting on the digital tokens sell some of their remaining holdings to pay $25 billion in capital-gains levies, Tom Lee, the head of research at Fundstrat Global Advisors.
Lee says that $25 billion prediction -- derived from his estimate that U.S. households had $92 billion in taxable gains from cryptocurrencies in 2017 -- would represent 20 percent of capital-gains tax receipts to the U.S. Treasury. He estimates total capital gains receipts will hit a record $168 billion for tax-year 2017.
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https://www.bloomberg.com/news/articles/2018-04-05/crypto-rout-driven-by-25-billion-capital-gain-hit-tom-lee-says
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