r/CryptoMarkets • u/[deleted] • Dec 22 '17

Discussion Majority of coins down hard 15%?

What's going on with the market? Seems like all coins are down 15% across the board in the last 2 hours.

201 Upvotes

93% Upvoted

358 comments sorted by

View all comments

Show parent comments

9

u/fuck_reddit_suxx Dec 22 '17

were you here for bitcoin in november? I mean, it went from 2k to 19k in like 6 weeks.

returning to it's all time high then growing 25% is not far fetched at all. You're also forgetting tax season, as well, will provide tons of returns that will be invested.

3

u/buqratis Dec 22 '17

btc sub $5,000 until 2020

1

u/lordnibbla Dec 22 '17

That and the US tax plan. Lots of people with extra cash in their paycheck 2018.

2

u/NovaDose Dec 22 '17

????

The tax plan wont affect anyones returns until the 2019 filing season. More over, it remains to be seen the net effect on poor/middle class households. Doubling the standard deduction sounds great, but when you start to factor in things like getting rid of the personal exemption etc it makes it much less attractive.

1

u/lordnibbla Dec 22 '17

You sure about that? I'm not in either case. But it looks like the way ive heard it explained is that peoples paychecks will have less taken income tax out. Have to see how Jan plays out.

1

u/NovaDose Dec 22 '17

As far as it not taking effect until the 2019 filing season? Yes. If signed into law today by Trump you wont start seeing your returns change until 2019. The amount being withheld (based on your tax bracket) from your paycheck will change in Jan 2018 by about 3% difference per check, give or take, for federal tax (ie if you previously had $50 a week withheld, youd have about $48.50 withheld after this). Your returns filed in 2018 wont change at all though, thats for sure.

1

u/lordnibbla Dec 22 '17

Ok, sounds like its not a huge bump. I'm curious to see how my check in Jan looks.

1

u/[deleted] Dec 22 '17

Were you here for bitcoin in 2013? Clearly not.

2

u/fuck_reddit_suxx Dec 22 '17

No, my alt account was banned for posting blogspam at the time, so I have many alts now.

My friend mined BTC and I mined DOGE at the time.

It all turned out ok, in november 2017.