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This allows large investors to place pressure 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 start seeing a trend that is somehow concerning to our Bitcoin price forecast. According to a physical Bitcoin ETF was rejected in April of the year. On August 22nd the SEC decided to reject 9 more Bitcoin ETFs.
All of these funds sought to utilize futures contracts to find exposure, with several planning to brief Bitcoin. The ruler needed a hard-deadline to deny or approve each one these goods during the next month; their requests to record had been pending since December and January. Investors expects for a Bitcoin ETF now rest on just one fund from VanEck Associates Corp..
The regulator that month pushed back a ruling on that product until at least September and could ultimately undergo February to make up its own mind.What we see will be an emphasis on non-physical Bitcoin ETFs. The ETFs which are submitted are mainly derivatives. They can go short, or are connected to Bitcoin futures.
Bitcoin usageAs per the Bitcoin usage and adoption figures on Statista.com the ownership of Bitcoin is still very low, slightly but not much higher than when we wrote 10 Investment strategies For Cryptocurrencies Investing 18 months ago.The 3 stats shown below, nevertheless without precise statistics as thats only available 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 crypto a product of their digital age.Moreover, when it comes to Bitcoin ATMs globally, we see a stagnation in the past couple webpage of months. This is the very first sign of stagnation. It suggests to us that the notion of using Bitcoin as a payment procedure is being challenged right now.
This, of course, is crucial information for out 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 have the mandatory features of a payment method.
The older generation is skeptical.That said, and as per InvestingHavens blockchain & crypto investing study, Bitcoin evolved already early this year into the leading indicator for the crypto marketplace. We started writing about this 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, though this is accurate, it yields crucial information for any crypto related investment, not only cryptocurrencies but also blockchain stocks.Our Bitcoin price forecast for 2019: $25,000With all the insights laid out in this article can we do a Bitcoin price forecast for 2019 Yes, is the answer, and our annotated long term Bitcoin cost chart ought to help us with this.Below is the 4 year graph of Bitcoin.
Note that Bitcoin never dropped into its support band, implying there was plenty of downside potential before the long term bull market would be finished. This certainly is not how crypto investors felt 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 period of momentum in crypto land starts, Bitcoin will move to its bullish band. However, with insights laid out in this article we dont see Bitcoin going into its super bullish band though.Thats why we believe that it is quite realistic to anticipate $25,000 as a realistic Bitcoin price prediction for 2019, assuming the crypto crash is finished.
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