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This allows large investors to put strain on Bitcoins cost 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 start seeing a trend that is somehow concerning to our Bitcoin cost prediction. 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.
All 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 of these products during the next month; their orders to record had been pending since December and January. Investors expects for a Bitcoin ETF now rest on just one fund from VanEck Associates Corp..
The regulator that month pushed back a ruling on such product until at least September and could finally take through February to compose its own 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 connected 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 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 likely crypto a commodity of the electronic age.Moreover, when it comes to Bitcoin ATMs globally, 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 method is being challenged right now.
This, of course, is crucial information for outside 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 possess the mandatory features of a payment method.
The older generation is skeptical.That stated, and according to InvestingHavens blockchain & crypto investing research, Bitcoin evolved early this season into the leading indicator for the crypto market. We started writing about this already in February, as 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, if this is accurate, it yields crucial information for any crypto related investment, not only cryptocurrencies sites but additionally blockchain stocks.Our Bitcoin price forecast for 2019: $25,000With all the insights laid out in this article can we do a Bitcoin price click here to read forecast 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 fell 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 the way crypto investors felt 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 phase of momentum in crypto land starts, Bitcoin will move into its bullish band. But with insights laid out in this article we dont find Bitcoin going into its super bullish band though.Thats why we believe it is quite realistic to anticipate $25,000 as a realistic Bitcoin price forecast for 2019, assuming that the crypto crash is finished.
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