opinion on reducing tax rates -> bearish effect on crypto market
A very promising announcement that will make traditional markets more attractive to investors.
An optimism will be created where companies will naturally see higher profits, drawing capital away from riskier assets like cryptocurrencies. That probably cause the latest liquidation and that huge price drop.
If we consider December to be the month where people withdraw some money to use for the holidays, the rest of the 2024 will be a consolidation or bearish phase.
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