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This enables large investors to put strain 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 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.
All these funds sought to use futures contracts to get exposure, with a number of planning to short Bitcoin. The regulator needed a hard-deadline to deny or approve each one of these goods over 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 ruler this month pushed back a ruling on that merchandise until at least September and could finally take through February to compose its mind.What we see will be 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 use and adoption statistics on Statista.com the ownership of Bitcoin is still quite 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 clearly a phenomenon for the younger generation which probably crypto a commodity of their digital age.Moreover, when it comes to Bitcoin ATMs worldwide, 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 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 likely going to continue. Bitcoin does not have the mandatory features of a payment method.
The old generation is skeptical.That stated, and page according to InvestingHavens blockchain & crypto investing study, Bitcoin evolved already early this season 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 market.
Nothing more, nothing less.Obviously, though that 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 guide 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 chart of Bitcoin.
Note that Bitcoin never dropped into its support band, implying there was plenty of downside potential ahead of the long term bull market could be over. This certainly is not how 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 period of momentum in crypto land begins, Bitcoin will move to its bullish band. But with insights laid out in this guide we dont find 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 forecast for 2019, assuming the crypto crash is finished.
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