The value of Bitcoin falls to less than $ 7,000

The price of the digitized digital process fell by more than 6 percent on Monday, bringing the value to less than $ 7,000 as the deadline for filing tax returns approaches on April 17, according to CoinDesk data. When the price of the house fell more than 27 percent during the past month.

According to some analysts, tax sales were the main drivers of sales this month. Thomas Lee, head of research at Fundstrat Global Advisors, said in a report last week that US families are likely to owe $ 25 billion in capital gains taxes because of Its foreign exchange reserves.

According to the CoinDesk platform, the entire digital currency market has lost more than half of its market value since the beginning of this year, while regulatory uncertainty Another factor in pricing pressure.

The price of the currency began to fall below $ 10,000 in March, after the Securities and Exchange Commission announced that the online trading platforms that use digital assets that need securities need to register with the agency.

The Securities and Exchange Commission (SEC) has tightened its grip on fund raising techniques known as initial currency offerings. Global regulators are split on how to control the encrypted digital currency, which is not supported by any central bank. The Reserve Bank of India announced last week that regulated financial institutions In India can no longer legally handle encrypted digital currencies.

According to experts, the market is now in a situation of price discovery until investors get more clarity about regulation, so that the market is a bearish market to entice new buyers.