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This enables large investors to place pressure on Bitcoins cost in a way not seen before. In other words, the introduction of Bitcoin stocks on December 17th 2017 led largely in subdued returns to Bitcoin going forward.Moreover, with many Bitcoin ETF suggestions submitted to the SEC this season we begin seeing a trend that's somehow concerning for our Bitcoin price prediction. According to a physical Bitcoin ETF was rejected in April of this year. On August 22nd the SEC made a decision to reject 9 more Bitcoin ETFs.
Every one these funds sought to utilize futures contracts to find exposure, with a number of planning to short Bitcoin. The ruler needed a hard-deadline to deny or approve each one of these products over the next month; their orders to record had been pending since December and January. Investors hopes 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 will be 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 statistics on Statista.com the ownership of Bitcoin is still very low, slightly but not much higher than when we published 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 the electronic 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 notion of using Bitcoin as a payment procedure is being challenged right now.
This, of course, is critical information for out 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 have the mandatory features of a payment method.
The older generation is skeptical.That said, and according to InvestingHavens blockchain & crypto investing research, Bitcoin evolved already early this year into the leading indicator for the crypto marketplace. We started 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, though this is true, 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 forecast for 2019 Yes, is the answer, and our annotated long term Bitcoin cost chart ought to help us with this.Below is the 4 year graph of Bitcoin.
Note best site that Bitcoin never fell into its support band, implying there was plenty of downside potential ahead of the here 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 transition band, since May of this year.
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Arguably, when the next strong period of momentum in crypto land starts, Bitcoin will move to its bullish band. However, with insights laid out in this guide we dont find Bitcoin going to its super bullish band though.Thats why we think that it is quite realistic to anticipate $25,000 as a realistic Bitcoin price forecast for 2019, assuming the crypto crash is finished.
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