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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 futures on December 17th 2017 resulted primarily in subdued returns to Bitcoin going forward.Moreover, with so many Bitcoin ETF suggestions submitted to the SEC this year we start seeing a trend that is somehow concerning for our Bitcoin cost prediction. As said, a physical Bitcoin ETF was rejected in April of the year. On August 22nd the SEC made a decision to reject 9 more Bitcoin ETFs.
Every one of these funds sought to use futures contracts to find exposure, with several 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 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 ruler that month pushed back a ruling on such merchandise until at least September and may ultimately take through February to make up its own mind.What we see will be an emphasis on non-physical Bitcoin ETFs. The ETFs which are filed are primarily derivatives. They can go short, or are connected to Bitcoin futures.
Bitcoin usageAs per the Bitcoin use and adoption figures 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, nevertheless without accurate figures as thats only accessible for premium members, show that Bitcoin ownership was quite 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 next page crypto a product of their digital age.Moreover, when it comes to Bitcoin ATMs globally, 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 method is being challenged right now.
This, of course, is critical information for out Bitcoin price forecast for 2019. Bitcoin as an investment reference 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 possess the mandatory features of a payment approach.
The older generation is skeptical.That said, 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 error 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 also blockchain stocks.Our Bitcoin price prediction for 2019: $25,000With all the insights laid out in this guide can we perform a Bitcoin price forecast 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 dropped into its support band, implying there was still plenty of downside potential before the long term bull market would be finished. This anonymous certainly is not how crypto investors believed about it, on the contrary.Bitcoin is now trending in its transition band, since May of this year.
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But when the next strong phase of momentum in crypto land starts, Bitcoin will proceed into its bullish band. However, with all insights laid out in this article we dont see Bitcoin going to its super bullish band though.Thats why people believe that it is very realistic to expect $25,000 as a realistic Bitcoin price prediction for 2019, assuming that the crypto crash is finished.
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