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This allows 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 led largely in subdued returns to Bitcoin going forward.Moreover, together with so many Bitcoin ETF suggestions submitted to the SEC this year we start seeing a trend that's somehow concerning to our Bitcoin price forecast. According to 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 use futures contracts to find exposure, with several planning to short Bitcoin. The ruler needed a hard-deadline to deny or approve all these goods during 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 merchandise until at least September and may ultimately undergo February to make up its mind.What we see will be an emphasis on non-physical Bitcoin ETFs. The ETFs which 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 wrote 10 Investment Tips 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 very 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 product of the electronic age.Moreover, when it comes to Bitcoin ATMs worldwide, we see a stagnation in the past couple of months. This is the very first sign of stagnation. It indicates to us that the idea of using Bitcoin as a payment procedure is being challenged right now.
This, naturally, is critical information for out Bitcoin price prediction for 2019. Bitcoin as an investment is maturing, sites 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 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 mistake by focusing on the wrong indicators for the crypto market.
Nothing more, nothing less.Obviously, if this is accurate, it yields crucial 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 prediction for 2019 Yes, is the answer, and also our annotated long term Bitcoin price chart ought to help us with this.Below is the 4 year chart of Bitcoin.
Note that Bitcoin never dropped into its support band, implying there was plenty of downside potential before the long term bull market would be over. This certainly is not how crypto investors felt 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 phase of momentum in crypto land begins, Bitcoin will proceed to its bullish band. However, with insights laid out in this article we dont see Bitcoin going to its super bullish band though.Thats why people believe that it is quite realistic to more information anticipate $25,000 as a realistic Bitcoin price prediction for 2019, assuming the crypto crash is over.
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