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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 futures on December 17th 2017 led largely in subdued returns to Bitcoin going forward.Moreover, with so many Bitcoin ETF suggestions submitted to the SEC this season we start seeing a trend that's somehow concerning to our Bitcoin cost prediction. As said, a bodily Bitcoin ETF was rejected in April of the year. On August 22nd the SEC decided to reject 9 more Bitcoin ETFs.
All these funds sought to use futures contracts to get exposure, with a number of planning to brief Bitcoin. The ruler needed a hard-deadline to deny or approve all these goods over 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 this month pushed back a ruling on that product until at least September and may ultimately undergo February to make up its own mind.What we see will be an emphasis on non-physical Bitcoin ETFs. The ETFs that are filed are primarily derivatives. They can go short, or are correlated to Bitcoin futures.
Bitcoin usageAs per the Bitcoin usage 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 accurate figures 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 obviously a phenomenon for the younger generation which likely crypto a commodity of the digital age.Moreover, when it comes to Bitcoin ATMs globally, we see a stagnation in the past couple of months. This is the very first sign of stagnation. It suggests to us that the idea of using Bitcoin as a payment procedure is being challenged right now.
This, naturally, is critical information for outside Bitcoin price forecast 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 approach.
The old generation is skeptical.That said, and as per InvestingHavens blockchain & crypto investing study, Bitcoin evolved early this year into the leading indicator for the crypto marketplace. We started writing about this already in February, as the crypto crash was going on. click reference Many crypto investors made a big mistake by focusing on the wrong indicators for the crypto marketplace.
Nothing more, nothing less.Obviously, though this is true, it yields critical 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 perform 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 chart 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 own transition band, since May of this past year.
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But when the next strong phase of momentum in crypto land begins, Bitcoin over at this website will proceed 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 very realistic to expect $25,000 as a realistic Bitcoin price prediction for 2019, assuming the crypto crash is finished.
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