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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 suggestions submitted to the SEC this season we begin seeing a trend that's somehow concerning to our Bitcoin cost prediction. According to a physical Bitcoin ETF was rejected in April of this year. On August 22nd the SEC decided to reject 9 more Bitcoin ETFs.
Every one these funds sought to use futures contracts to find exposure, with a number of planning to short Bitcoin. The regulator had a hard-deadline to deny or approve each one of these goods over the next month; their orders to list had been pending since December and January. Investors expects to get a Bitcoin ETF now rest on just one fund from VanEck Associates Corp..
The regulator that month pushed back a ruling on such merchandise until at least September and could ultimately take through February to compose its own mind.What we see is an emphasis on non-physical Bitcoin ETFs. The ETFs that are submitted are mainly derivatives. They can go short, or are correlated to Bitcoin futures.
Bitcoin usageAs per the Bitcoin usage and adoption figures 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 accurate statistics as thats only accessible 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 likely crypto a product of their electronic age.Moreover, when it comes to Bitcoin ATMs globally, 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 method is being challenged right now.
This, naturally, is crucial information for out Bitcoin price forecast for 2019. Bitcoin as an investment my review here 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 older generation is skeptical.That said, and as per InvestingHavens blockchain & crypto investing research, Bitcoin evolved early this season into the leading indicator for the crypto marketplace. We started writing about this already in February, since the crypto crash was going on. Many crypto investors made a big 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 also blockchain stocks.Our Bitcoin price prediction for 2019: $25,000With the insights laid out in this article can we do a Bitcoin price forecast for 2019 Yes, is the answer, and also our annotated long term Bitcoin price chart should help us with this.Below is your 4 year graph of Bitcoin.
Note that Bitcoin never fell into its support band, implying there was still plenty of downside potential ahead of the long term bull market would be over. This certainly is not the way crypto investors believed about it, on the contrary.Bitcoin is now trending in its own transition band, since May of this year.
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Arguably, when the next strong phase of momentum in crypto land starts, Bitcoin will proceed to 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 we think it is very realistic to anticipate $25,000 as a realistic Bitcoin price forecast for 2019, assuming that the crypto crash is finished.
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