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This enables large investors to place 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 so many Bitcoin ETF proposals submitted to the SEC this season we begin seeing a trend that's somehow concerning for our Bitcoin cost prediction. As said, a physical Bitcoin ETF was rejected in April of the year. On August 22nd the SEC decided to reject 9 more Bitcoin ETFs.
Every one of these funds sought to utilize futures contracts to get exposure, with a number of planning to short Bitcoin. The ruler needed a hard-deadline to deny or approve all of these products over the next month; their orders to record 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 ruler this month pushed back a ruling on such product until at least September and may ultimately undergo February to compose its mind.What we see is an emphasis on non-physical Bitcoin ETFs. The ETFs that are filed are mainly derivatives. They can go short, or are correlated 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 Tips For Cryptocurrencies Investing 18 months ago.The 3 stats shown below, nevertheless without precise figures as thats only accessible 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 worldwide, we see a stagnation in the last few 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 crucial information for outside Bitcoin price forecast for 2019. Bitcoin as an investment is maturing, blog here with futures being introduced 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 have the mandatory features of a payment method.
The old generation is skeptical.That said, and according to InvestingHavens blockchain & crypto investing research, Bitcoin evolved early this year into the leading indicator for the crypto market. We began writing about this in February, as the crypto crash was going on. Many crypto investors made a large error by focusing on the wrong indicators for the crypto marketplace.
Nothing more, nothing less.Obviously, if that is true, it yields critical 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 guide 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 still plenty of downside potential before 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 past year.
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Arguably, when the next strong phase of momentum in crypto land starts, Bitcoin will proceed into its bullish band. But with insights laid out in this guide we dont find Bitcoin going to its super bullish band though.Thats why we think 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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