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This allows 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 resulted primarily in subdued returns to Bitcoin going forward.Moreover, together with many Bitcoin ETF proposals submitted to the SEC this year we begin seeing a trend that's somehow concerning for our Bitcoin price 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.
All these funds sought to utilize futures contracts to get exposure, with several planning to short Bitcoin. The ruler had a hard-deadline to deny or approve all these goods over 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 that month pushed back a ruling on such merchandise until at least September and may ultimately take through February to compose its own 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 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, however without accurate figures 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 obviously a phenomenon for the younger generation which probably crypto a commodity of their electronic age.Moreover, when it comes to Bitcoin ATMs worldwide, we see a stagnation in the past couple of months. This is the first sign of stagnation. It suggests to us that the idea of using Bitcoin as a payment procedure is being challenged right now.
This, of course, 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 likely going to continue. Bitcoin does not possess the mandatory features of a payment approach.
The old generation is skeptical.That stated, and as Extra resources per InvestingHavens blockchain & crypto investing study, Bitcoin evolved already early this year into the leading indicator for the crypto market. We started writing about this already in February, as the crypto crash was going on. Many crypto investors made a big mistake by focusing on the wrong indicators for the crypto marketplace.
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 perform a Bitcoin price prediction for 2019 Yes, is the answer, and our annotated long term Bitcoin cost chart should help us with this.Below is the 4 year graph of Bitcoin.
Note that Bitcoin never dropped into its service band, implying there was still plenty of downside potential before the long term bull market could be over. This certainly is not the way 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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Arguably, when the next strong phase of momentum in crypto land begins, Bitcoin will move to its bullish band. But with insights laid out in this guide we dont see Bitcoin going to 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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