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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 so many Bitcoin ETF proposals submitted to the SEC this year we begin seeing a trend that is somehow concerning to our Bitcoin cost forecast. As said, a physical Bitcoin ETF was rejected in April of this year. On August 22nd the SEC decided to reject 9 more Bitcoin ETFs.
Every one of these funds sought to use futures contracts to get exposure, with several planning to short Bitcoin. The ruler needed a hard-deadline to deny or approve each one of these goods during 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 such product until at least September and may finally take through February to compose 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 use 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 my sources precise statistics as thats only available 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 obviously a phenomenon for the younger generation which likely crypto a product of their 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 suggests to us that the idea of using Bitcoin as a payment procedure 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 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 old 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 my latest blog post market. We started writing about this in February, as 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 this is accurate, it yields crucial information for any crypto related investment, not only cryptocurrencies but additionally blockchain stocks.Our Bitcoin price prediction 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 cost chart should help us with this.Below is the 4 year chart of Bitcoin.
Note that Bitcoin never fell into its support band, implying there was still 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 own transition band, since May of this year.
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But when the next strong phase of momentum in crypto land starts, Bitcoin will proceed into its bullish band. However, with insights laid out in this guide we dont find Bitcoin going to its super bullish band though.Thats why we believe it is very realistic to anticipate $25,000 as a realistic Bitcoin price forecast for 2019, assuming the crypto crash is finished.
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