Bitcoin May Plunge in Q4 Due to a Tax-Induced Selling Frenzy

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Bitcoin’s price action as of late has done little to offer investors with any tangible insights into where it may trend next Analysts have been largely noting that the cryptocurrency’s outlook is being dimmed by turbulence within the stock market, which may persist until after the elections Many traders do believe that the rest of Q4 will be a bullish month for BTC, as this may be when it can decouple from the stock market and garner some independent momentum One analyst explained that he believes downside is imminent in the quarter ahead, noting that whales will have to cash out some of their crypto to cover taxes, which could spark a selloff Bitcoin and the entire crypto market have lacked momentum throughout the past few days and weeks. This has largely come about due to the turbulence within the stock market, with bulls and bears being unable to spark…

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