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    ForexJournal » Crypto, Top Stories » Bitcoin Price Regains Ground After Tax Harvesting Selloffs
    Crypto Top Stories

    Bitcoin Price Regains Ground After Tax Harvesting Selloffs

    Author AvatarBy Patrick Butler January 12, 2025 No Comments 4 Mins Read
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    The Bitcoin price has recovered from its tax harvesting year-end drop. BTC is trading right around $97,000 after gaining over 3.4% over the last 24 hours before press time. Keep in mind that Bitcoin hasn’t been able to regain the $100,000 since it slipped below six figures on Dec. 19.

    Isaac Joshua—the CEO of token launch platform Gems—told Decrypt there’s little doubt The downturn “can largely be attributed to end-of-year tax-loss harvesting by investors,” he explained.

    “Many have liquidated both Bitcoin ETFs and the underlying asset itself to optimize their tax reports, a common phenomenon in financial markets during this period,” Joshua

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    Patrick Butler

    He is a distinguished financial analyst with a wealth of experience in the Forex and cryptocurrency markets. With a career spanning over 15 years, Patrick has honed a keen understanding of market dynamics, using both technical analysis and macroeconomic insights to forecast trends and identify opportunities. His work is characterized by a meticulous attention to detail and an ability to simplify complex concepts, making him a respected authority for both institutional investors and individual traders. Patrick’s analytical depth and pragmatic approach have earned him recognition as a trusted expert in the ever-evolving world of finance.

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