One of bitcoin's biggest bulls pinpoints a $25 billion reason why the crypto could stop plunging by mid-April

Bloomberg TV

• Bitcoin investors owe an estimated $25 billion in US taxes, according to Tom Lee, the cofounder of Fundstrat.
• As Tax Day approaches, many bitcoin owners are selling their digital coins in exchange for dollars. Lee therefore believes some of the selling pressure on bitcoin will lift after the April 17 tax deadline.
• Bitcoin is down about 65% from its mid-December peak.

US tax returns for 2017 are due April 17.

Many people who bought bitcoin as it soared last year are not looking forward to that day. That's because anyone who sold their cryptocurrencies for profit will owe taxes on those earnings.See the rest of the story at Business Insider

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• TOM LEE: There's a $25 billion reason bitcoin could stop plunging by mid-April

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