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This allows large investors to put strain on Bitcoins price 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 proposals submitted to the SEC this year we begin seeing a trend that's somehow concerning for our Bitcoin price prediction. As said, a physical Bitcoin ETF was rejected in April of this 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 regulator needed a hard-deadline to deny or approve each one these goods 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 regulator this month pushed back a ruling on such product until at least September and could ultimately undergo February to compose its mind.What we see will be 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 wrote 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 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 notion of using Bitcoin as a payment method is being challenged right now.
This, of course, is critical information for out Bitcoin price forecast for 2019. Bitcoin as an investment is maturing, 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 possess the mandatory features of a payment approach.
The older generation is skeptical.That stated, and as per InvestingHavens blockchain & crypto investing study, Bitcoin evolved already early this year into the leading indicator for the crypto marketplace. 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, though that is accurate, it yields crucial information for any crypto related investment, not only cryptocurrencies but also blockchain stocks.Our Bitcoin price prediction for 2019: $25,000With the insights laid out in this article can we do a Bitcoin price prediction for 2019 Yes, is the answer, and our annotated long term Bitcoin cost 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 still plenty of downside potential ahead of the long term bull market could be over. 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 past year.
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But when the next strong period of momentum in crypto land starts, 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 quite realistic to anticipate $25,000 as a realistic Bitcoin price prediction for 2019, assuming the crypto crash is over.
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