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This allows large investors to put pressure on Bitcoins price 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 begin seeing a trend that is somehow concerning for our Bitcoin cost forecast. As said, a bodily Bitcoin ETF was rejected in April of the year. On August 22nd the SEC decided to reject 9 more Bitcoin ETFs.
All of these funds sought to utilize futures contracts to find exposure, with a number of 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 list 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 that month pushed back a ruling on that merchandise until at least September and may ultimately undergo February to compose its own 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 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 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 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 likely crypto a commodity of their electronic age.Moreover, when it comes to Bitcoin ATMs globally, over at this website we see a stagnation in the past couple of months. This is the very 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 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 going to continue. Bitcoin does not have the mandatory features of a payment method.
The old generation is skeptical.That said, and according to InvestingHavens blockchain & crypto investing study, Bitcoin evolved early this season into the leading indicator for the crypto market. We started writing about this in February, as the crypto crash was going on. Many crypto investors made a big error by focusing on the wrong indicators for the crypto market.
Nothing more, nothing less.Obviously, though this is true, it yields crucial information for any crypto related investment, not only cryptocurrencies but also blockchain stocks.Our Bitcoin price prediction for 2019: $25,000With all the insights laid out in this guide can we perform 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 the 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 could 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 past year.
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But when the next strong period of momentum in crypto land begins, Bitcoin will proceed into its bullish band. However, with all insights laid out in this guide we dont find Bitcoin going to its super bullish band though.Thats why we think 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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