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This allows large investors to place pressure 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, with so many Bitcoin ETF suggestions submitted to the SEC this season we start seeing a trend that's somehow concerning for our Bitcoin cost forecast. As said, a bodily Bitcoin ETF was rejected in April of this year. On August 22nd the SEC made a decision to reject 9 more Bitcoin ETFs.
Every one these funds sought to use futures contracts to find exposure, with several planning to short Bitcoin. The regulator had a hard-deadline to deny or approve all of these goods over the next month; their requests 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 merchandise until at least September and could 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 usage 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 strategies For Cryptocurrencies Investing 18 months ago.The 3 stats shown below, nevertheless without precise this content statistics 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 probably crypto a product 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 indicates to us that the idea of using Bitcoin as a payment procedure 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 going to continue. Bitcoin does not have the mandatory features of a payment approach.
The older generation is skeptical.That stated, and according to InvestingHavens blockchain & crypto investing study, 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. Recommended Reading Many crypto investors made a large mistake by focusing on the wrong indicators for the crypto market.
Nothing more, nothing less.Obviously, if that is accurate, it yields critical information for any crypto related investment, not only cryptocurrencies but additionally blockchain stocks.Our Bitcoin price prediction for 2019: $25,000With all the insights laid out in this article can we perform a Bitcoin price forecast for 2019 Yes, is the answer, and 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 ahead of the long term bull market would be over. This certainly is not how crypto investors believed about it, on the contrary.Bitcoin is now trending in its 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 proceed into its bullish band. But with all insights laid out in this article we dont see Bitcoin going to its super bullish band though.Thats why we believe that it is very realistic to anticipate $25,000 as a realistic Bitcoin price prediction for 2019, assuming that the crypto crash is over.
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