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This enables large investors to place pressure on Bitcoins price in a way not seen before. In other words, the introduction of Bitcoin stocks on December 17th 2017 resulted primarily in subdued returns to Bitcoin going forward.Moreover, with many Bitcoin ETF suggestions submitted to the SEC this year we begin seeing a trend that is somehow concerning to our Bitcoin cost forecast. According to a bodily Bitcoin ETF was rejected in April of the year. On August 22nd the SEC made a decision to reject 9 more Bitcoin ETFs.
All of these funds sought to utilize futures contracts to get exposure, with a number of planning to short Bitcoin. The regulator needed a hard-deadline to deny or approve all of these goods during the next month; their requests to list had been pending since December and January. Investors hopes to get a Bitcoin ETF now rest on just one fund from VanEck Associates Corp..
The regulator this month pushed back a ruling on such product until at least September and could finally undergo February to compose its own mind.What we see is an emphasis on non-physical Bitcoin ETFs. The ETFs which are filed are primarily derivatives. They can go short, or are correlated to Bitcoin futures.
Bitcoin usageAs per the Bitcoin usage and adoption figures 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, however without accurate figures as thats only available 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 their electronic age.Moreover, when it comes to Bitcoin ATMs globally, we see a stagnation in the last few months. This is the first sign of stagnation. It suggests to us that the notion of using Bitcoin as a payment procedure is being challenged right now.
This, of course, is critical information for outside Bitcoin price forecast 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 likely going to continue. Bitcoin does not possess the mandatory features of a payment method.
The old generation is skeptical.That stated, and according to InvestingHavens blockchain & crypto investing research, Bitcoin evolved already early this season into the leading indicator for the crypto market. We began writing about this already in February, as the crypto crash was going on. Many crypto investors made a big error by focusing on the wrong indicators for the crypto market.
Nothing more, nothing less.Obviously, if this is accurate, it yields crucial information for any crypto related investment, not only cryptocurrencies but also blockchain stocks.Our Bitcoin price prediction for 2019: $25,000With all the insights laid out in this article can we perform a Bitcoin price prediction for 2019 Yes, is the answer, and also our annotated long term Bitcoin price chart ought to help us with this.Below is your 4 year graph of Bitcoin.
Note that Bitcoin never fell into its service band, implying there was plenty of downside potential ahead of the long term bull market could be finished. This certainly is not how crypto investors felt about it, on the contrary.Bitcoin is now trending in its i loved this own transition band, since May of this past year.
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Arguably, when the next strong period of momentum in crypto land begins, Bitcoin will proceed to its bullish band. But with all insights laid out in this guide we dont find Bitcoin going to its super bullish band though.Thats why we think it is quite realistic to anticipate $25,000 as a realistic Bitcoin price prediction for 2019, assuming the crypto crash is finished.
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