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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 stocks on December 17th 2017 resulted primarily in subdued returns to Bitcoin going forward.Moreover, together with many Bitcoin ETF suggestions submitted to the SEC this season we start seeing a trend that is somehow concerning for our Bitcoin cost prediction. As said, 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 these funds sought to use futures contracts to find exposure, with a number of planning to short Bitcoin. The ruler needed a hard-deadline to deny or approve all of these products over the next month; their orders to list had been pending since December and January. Investors hopes for a Bitcoin ETF now rest on just one fund from VanEck Associates Corp..
The regulator this month pushed back a ruling on that product until at least September and may ultimately take through February to compose its own mind.What we see will be an emphasis on non-physical Bitcoin ETFs. The ETFs which are submitted are primarily 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 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 likely crypto a product of the digital age.Moreover, when it comes to Bitcoin ATMs globally, we see a stagnation in the past couple of months. This is the very first sign of stagnation. It indicates to us that the notion of using Bitcoin as a payment method is being challenged right now.
This, naturally, is critical 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 possess the mandatory features of a payment approach.
The older generation is skeptical.That said, 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 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 marketplace.
Nothing more, nothing less.Obviously, if that is accurate, it yields critical information for any crypto related investment, not only cryptocurrencies but also blockchain stocks.Our Bitcoin price forecast for 2019: $25,000With the insights laid out in this article can we do a Bitcoin price forecast for 2019 Yes, is the answer, and our annotated long term Bitcoin price chart should help us with this.Below is your 4 year chart of Bitcoin.
Note that Bitcoin never dropped into its support band, implying there was still plenty of downside potential before the long term bull market could be finished. This certainly is not how crypto investors felt about it, on check it out the contrary.Bitcoin is now trending in its transition band, since May of this past year.
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Arguably, when the next strong phase of momentum in crypto land starts, Bitcoin will move to its bullish band. But with all 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 expect $25,000 as a realistic Bitcoin price forecast for 2019, assuming the crypto crash is finished.
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