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This allows large investors to put pressure on Bitcoins price in a way not seen before. In other words, the introduction of Bitcoin futures on December 17th 2017 resulted primarily in subdued returns to Bitcoin going forward.Moreover, together with many Bitcoin ETF proposals submitted to the SEC this season we start seeing a trend that is somehow concerning to our Bitcoin cost prediction. As said, a physical Bitcoin ETF was rejected in April of the year. On August 22nd the SEC decided to reject 9 more Bitcoin ETFs.
All these funds sought to utilize futures contracts to find exposure, with a number of planning to short Bitcoin. The ruler had a hard-deadline to deny or approve each one of these products during the next month; their requests to list had been pending since December and January. Investors expects to get a Bitcoin ETF now rest on just one fund from VanEck Associates Corp..
The ruler this month pushed back a ruling on that merchandise until at least September and may finally undergo February to compose its mind.What we see is an emphasis on non-physical Bitcoin ETFs. The ETFs which are submitted are primarily derivatives. They can go short, or are correlated to Bitcoin futures.
Bitcoin usageAs per the Bitcoin use and adoption statistics on Statista.com the ownership of Bitcoin is still very low, slightly but not much higher than when we wrote 10 Investment strategies For Cryptocurrencies Investing 18 months ago.The 3 stats shown below, nevertheless without precise figures as thats only accessible for premium members, reveal that Bitcoin ownership was very low in the U.S.
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Adults planning on investing in Bitcoin is obviously a phenomenon for the younger generation which probably crypto a commodity of the digital age.Moreover, when it comes to Bitcoin ATMs worldwide, we see a stagnation in the past couple of months. This is the very first sign of stagnation. It indicates to us that the idea of using Bitcoin as a payment method is being challenged right now.
This, naturally, is crucial information for out Bitcoin price prediction for 2019. Bitcoin as an investment is maturing, with futures being introduced already and other derivative products coming online in 2019 and beyond.Bitcoin adoption as a medium for transaction is not going to continue. Bitcoin does not have the mandatory features of a payment approach.
The old generation is skeptical.That stated, and according to InvestingHavens blockchain & crypto investing study, Bitcoin evolved already early this year into the leading indicator for the crypto market. We started writing about this in February, since the crypto crash was going on. Many crypto investors made a large mistake by focusing on the wrong indicators for the crypto market.
Nothing more, nothing less.Obviously, if that is true, it yields crucial information for any crypto related investment, not only cryptocurrencies but additionally blockchain stocks.Our Bitcoin price forecast for 2019: $25,000With all the insights laid out in this guide can we perform a Bitcoin price forecast see for 2019 Yes, is the answer, and our annotated long term Bitcoin cost chart ought to help us with this.Below is your 4 year graph of Bitcoin.
Note that over here Bitcoin never fell into its support band, implying there was plenty of downside potential before the long term bull market would be over. This certainly is not the way crypto investors believed about it, on the contrary.Bitcoin is now trending in its own transition band, since May of this past year.
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Arguably, when the next strong phase of momentum in crypto land begins, Bitcoin will move to its bullish band. However, with insights laid out in this guide we dont see Bitcoin going into its super bullish band though.Thats why people believe that it is very realistic to expect $25,000 as a realistic Bitcoin price forecast for 2019, assuming that the crypto crash is finished.
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