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This allows large investors to put strain 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 year we start seeing a trend that is somehow concerning to our Bitcoin price forecast. As said, a bodily Bitcoin ETF was rejected in April of this year. On August 22nd the SEC decided to reject 9 more Bitcoin ETFs.
Every one 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 these goods during the next month; their orders to record had been pending since December and January. Investors expects for a Bitcoin ETF now rest on just one fund from VanEck Associates Corp..
The regulator this month pushed back a ruling on that merchandise until at least September and may finally undergo February to make up its own mind.What we see is an emphasis on non-physical Bitcoin ETFs. The ETFs that 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 quite 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 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 clearly a phenomenon for the younger generation which likely crypto a commodity of the electronic age.Moreover, when it comes to Bitcoin ATMs worldwide, we see a stagnation in the last few months. This is the very first sign of stagnation. It suggests to us that the idea of using Bitcoin as a payment procedure is being challenged right now.
This, naturally, is critical 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 this website not likely going to continue. Bitcoin does not possess the mandatory features of a payment method.
The older generation is skeptical.That stated, and as per InvestingHavens blockchain & crypto investing research, Bitcoin evolved early this year into the leading indicator for the crypto market. linked here We began writing about this already in February, since 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 true, it yields crucial information for any crypto related investment, not only cryptocurrencies but also blockchain stocks.Our Bitcoin price forecast for 2019: $25,000With the insights laid out in this guide can we do a Bitcoin price prediction for 2019 Yes, is the answer, and also our annotated long term Bitcoin cost chart should help us with this.Below is the 4 year chart of Bitcoin.
Note that Bitcoin never fell into its support band, implying there was still plenty of downside potential ahead of the long term bull market would be finished. This certainly is not the way crypto investors felt about read this it, on the contrary.Bitcoin is now trending in its own transition band, since May of this past year.
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But when the next strong phase of momentum in crypto land begins, Bitcoin will proceed into its bullish band. However, with insights laid out in this guide we dont find Bitcoin going into its super bullish band though.Thats why we 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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