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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 stocks on December 17th 2017 resulted primarily in subdued returns to Bitcoin going forward.Moreover, with many Bitcoin ETF proposals submitted to the SEC this year we start seeing a trend that is somehow concerning to our Bitcoin price prediction. According to a bodily Bitcoin ETF was rejected in April of the year. On August 22nd the SEC decided to reject 9 more Bitcoin ETFs.
Every one 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 of these products during 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 regulator that month pushed back a ruling on that merchandise until at least September and may ultimately take through February to compose its mind.What we see is an emphasis on non-physical Bitcoin ETFs. The ETFs which are submitted are primarily 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 quite low, slightly but not much higher than when we wrote 10 Investment Tips For Cryptocurrencies Investing 18 months ago.The 3 stats shown below, nevertheless without accurate figures as thats only accessible for our website 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 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 very first sign of stagnation. It suggests to us that the notion of using Bitcoin as a payment method is being challenged right now.
This, naturally, is critical 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 possess the mandatory features of a payment method.
The old generation is skeptical.That said, and as per InvestingHavens blockchain & crypto investing go right here study, Bitcoin evolved already early this season into the leading indicator for the crypto market. 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 that is accurate, it yields critical information for any crypto related investment, not only cryptocurrencies but additionally blockchain stocks.Our Bitcoin price prediction 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 also 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 would be finished. 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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But when the next strong period of momentum in crypto land begins, Bitcoin will move to its bullish band. However, with insights laid out in this article we dont find Bitcoin going to its super bullish band though.Thats why people believe that 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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