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This allows 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 for 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 use futures contracts to find exposure, with a number of planning to short Bitcoin. The regulator needed a hard-deadline to deny or approve each one these products during the next month; their requests to record had been pending since December and January. Investors hopes to get a Bitcoin ETF now rest on just one fund from VanEck Associates Corp..
The regulator this month pushed back a ruling on that product until at least September and could ultimately take through February to compose its mind.What we see is an emphasis on non-physical Bitcoin ETFs. The ETFs that are submitted are primarily derivatives. They can go short, or are connected to Bitcoin futures.
Bitcoin usageAs per the Bitcoin use 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 statistics as thats only available for premium members, reveal 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 commodity of the 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 indicates to us that the notion of using Bitcoin as a payment method is being challenged right now.
This, of course, is crucial information for out 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 likely 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 research, Bitcoin evolved already early this year into the leading indicator for the crypto marketplace. We started writing about this 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 marketplace.
Nothing more, nothing less.Obviously, though this is accurate, it yields critical information for any crypto related investment, not only cryptocurrencies but also blockchain stocks.Our Bitcoin price forecast for 2019: $25,000With 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 price chart should help us with this.Below is your 4 year graph of Bitcoin.
Note that Bitcoin never dropped into its service band, implying there was plenty of downside potential before the long term bull market would be finished. This certainly is not the way crypto investors felt about it, on the contrary.Bitcoin is now trending in its transition band, since May of this past year.
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Arguably, when the next strong phase of internet momentum in crypto land starts, Bitcoin will proceed to its bullish band. However, with insights laid out in this guide we dont see Bitcoin going into its super bullish band though.Thats why we believe that it is quite realistic to expect $25,000 as a realistic Bitcoin price prediction for 2019, assuming the crypto crash is finished.
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