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This enables 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 season we begin seeing a trend that is somehow concerning for our Bitcoin price forecast. According to 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 utilize futures contracts to get exposure, with several planning to short Bitcoin. The ruler needed a hard-deadline to deny or approve all of these goods over the next month; their orders to record had been pending since December and January. Investors hopes for 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 could finally undergo February to make up its mind.What we see will be an emphasis on non-physical Bitcoin ETFs. The ETFs which are submitted are mainly 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, nevertheless without accurate figures 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 obviously a phenomenon for the younger generation which probably crypto a commodity of their electronic age.Moreover, when it comes to Bitcoin ATMs worldwide, we see a stagnation in the last few months. This is the very first sign of stagnation. It indicates to us that the idea 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 method.
The old generation is skeptical.That said, and according to InvestingHavens blockchain & crypto investing research, 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. Many crypto investors made a large mistake by focusing on the wrong indicators for the crypto marketplace.
Nothing more, nothing less.Obviously, though that 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 cost chart ought to help us with this.Below is the 4 year chart of Bitcoin.
Note that Bitcoin never fell into its service band, implying there was still plenty of downside potential before the long term bull market would be over. This certainly is not how crypto investors believed about it, on the contrary.Bitcoin Recommended Site is now trending in its own transition band, since May of this past year.
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Arguably, when the next strong phase of momentum in crypto land begins, Bitcoin will move to 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 think that it is very realistic to anticipate $25,000 as a realistic Bitcoin price prediction for 2019, assuming the crypto crash is finished.
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