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This enables large investors to place strain 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, together with many Bitcoin ETF proposals submitted to the SEC this season we begin seeing a trend that is somehow concerning to 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.
All these funds sought to use futures contracts to get exposure, with several planning to short Bitcoin. The regulator had a hard-deadline to deny or approve each one of these goods during 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 ruler that month pushed back a ruling on that product until at least September and could ultimately undergo February to compose its own mind.What we see will be an emphasis on non-physical Bitcoin ETFs. The ETFs which are filed are mainly 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 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 statistics as thats only available for premium members, show 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 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 suggests webpage to us that the notion of using Bitcoin as a payment method is being challenged right now.
This, naturally, is crucial information for out Bitcoin price forecast for 2019. Bitcoin as an investment is maturing, with futures being introduced 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 said, and according to InvestingHavens blockchain & crypto investing study, 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 large mistake 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 additionally blockchain stocks.Our Bitcoin price forecast for 2019: $25,000With all the insights laid out in this article can we do 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 the 4 year graph of Bitcoin.
Note that Bitcoin never fell into its service band, implying there was plenty of downside potential before the long term bull market would be finished. This certainly is not the way crypto investors felt about it, on the contrary.Bitcoin is now trending in its transition band, since May of this past year.
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Arguably, when the next blog strong phase of momentum in crypto land starts, Bitcoin will move into 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 forecast for 2019, assuming the crypto crash is finished.
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