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This enables large investors to put pressure on Bitcoins cost in a way not seen before. In other words, the introduction of Bitcoin futures on December 17th 2017 led largely in subdued returns to Bitcoin going forward.Moreover, together with many Bitcoin ETF suggestions submitted to the SEC this season we begin seeing a trend that is somehow concerning for our Bitcoin price forecast. As said, 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 get exposure, with a number of planning to brief Bitcoin. The ruler needed a hard-deadline to deny or approve each one of these products during the next month; their requests to list 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 this month pushed back a ruling on that merchandise until at least September and may ultimately take through February to make up its 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 connected to Bitcoin futures.
Bitcoin usageAs per the Bitcoin use 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 precise figures as thats only available for premium members, reveal that Bitcoin ownership was quite low in the U.S.
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Adults that site planning on investing in Bitcoin is clearly a phenomenon for the younger generation which likely crypto a product of their electronic age.Moreover, when it comes to Bitcoin ATMs worldwide, we see a stagnation in the last few months. This is the first sign of stagnation. It indicates to us that the notion of using Bitcoin as a payment procedure is being challenged right now.
This, naturally, is critical information for outside 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 not going to continue. Bitcoin does not possess the mandatory features of a payment method.
The older generation is skeptical.That stated, and according to InvestingHavens blockchain & crypto investing research, Bitcoin evolved already early this season into article 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 large error by focusing on the wrong indicators for the crypto market.
Nothing more, nothing less.Obviously, though that 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 the insights laid out in this article can we do a Bitcoin price prediction for 2019 Yes, is the answer, and our annotated long term Bitcoin price chart should help us with this.Below is your 4 year chart of Bitcoin.
Note that Bitcoin never fell into its support band, implying there was still plenty of downside potential before the long term bull market could be finished. This certainly is not the way crypto investors felt about it, on the contrary.Bitcoin is now trending in its own transition band, since May of this year.
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But when the next strong period of momentum in crypto land starts, Bitcoin will proceed into its bullish band. However, with all insights laid out in this article we dont find Bitcoin going to its super bullish band though.Thats why people believe that it is quite realistic to expect $25,000 as a realistic Bitcoin price prediction for 2019, assuming that the crypto crash is finished.
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