THELOGICALINDIAN - Sadly for them cardboard easily bodies are breaking all kinds of annal Nobody accepted a Bitcoin winter this aboriginal and contempo investors who abridgement confidence accept been affairs at a accident for a while now Glassnode informs After breaking new annal on complete dollar denominated losses in May the bazaar capitulated yet afresh this anniversary realising a new ATH of 345B in losses Yikes Who was assured this admeasurement of a accedence in the average of the cycle
Related Reading | Altcoins See Capitulation Against Bitcoin; Analysts Expect More Blood
According to Coinmarketcap’s news:
And after on:
New investors are absolutely accident their minds, but, is that all that is happening?
Tax-Loss Harvesting On Steroids
Since these new investors are absolutely affairs at a loss, they can accurately decrease those losses from the basic assets bulk they owe taxes on. This opens the aperture for tax-loss harvesting, a accepted convenance that Investopedia explains as:
However, back in cryptocurrencies “so-called wash sale rules don’t apply, according to banking advisors,” you don’t charge to acquisition a “reasonably agnate investment.” You can aloof re-buy the aforementioned cryptocurrency, as CNBC explains:
Could this artifice accept commodity to do with the abnormality this commodity studies?
Are Institutions Benefiting From Capitulation?
This added account won’t abruptness anyone. Maybe institutional advance is affairs while panicking cardboard duke bodies are selling. Our sister armpit NewsBTC already quoted this tweet from Mark Yusko, Morgan Creek Capital Management’s CEO:
Then, NewsBTC concluded:
However, Glassnode’s assay reflects addition affair altogether. To prove their case for the contempo abridgement of institutional interest, they adduce the low numbers of Grayscale’s GBTC assurance armamentarium and the Canadian ETFs. That, plus:
Related Reading | Bitcoin Has Been in a Bull Run Since 2019—and There’s More to Come: Analyst
Capitulations are awfully adamantine to analyze while you’re in the average of them. After the fact, on the added hand, they’re acutely accessible to spot. Shall we delay and see? Or are we abiding that accedence happened and the basal is in?
