Are cryptos down because it's tax day in the US? We keep getting asked this. It is quite unlikely because most people that had to cash out to pay taxes probably already did so. There is some chance that people have less liquidity so during this tax season perhaps it is one piece of the puzzle as to why the market has still been slow moving.
This is a multi-billion dollar market. Keep in mind that there are many complex variables going on between, regulations, taxes, people forgetting that anything that goes up comes down when it comes to any market. In the longer term, which in crypto is 6-12 months and even further on, we are not too worried and expect things to keep trending up. The technology of blockchain and the concept of digital currencies are here to stay. ICO's that don't want to wait are going to Asian countries that are crypto friendly, things are still moving.
![1500_Ly9jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy80ZWFkZjUwZWVkYmYwNmNjMzgzODk3ZjUwNjE2NmE1Mi5qcGc=.jpg] (
Image is taken from www.cointelegraph.com
Right now, the market was heading up and took a small turn down, so if you aren't long term holding, and trying to trade in and out of these bounces. Today is not the day. The market needs to go down closer to $300 billion or more for getting cryptos when they are very under priced. Hopefully, you took some profit last week in that spike and are ready to re-buy in when prices are good.