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This allows large investors to put pressure 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, with many Bitcoin ETF suggestions submitted to the SEC this year we start seeing a trend that's somehow concerning to our Bitcoin cost prediction. According to a physical Bitcoin ETF was rejected in April of this 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 several planning to short Bitcoin. The regulator needed a hard-deadline to deny or approve each one these products over the next month; their requests to record had been pending since December and January. Investors hopes to get a Bitcoin ETF now rest on just one fund from VanEck Associates Corp..
The ruler this month pushed back a ruling on such product until at least September and may finally undergo February to make up its own mind.What we see is 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 use and adoption statistics on Statista.com the ownership of Bitcoin is still quite low, slightly but not much higher than when we published 10 Investment Tips For Cryptocurrencies Investing 18 months ago.The 3 stats shown below, nevertheless without accurate statistics as thats only accessible 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 clearly a phenomenon for the younger generation which probably crypto a commodity of the digital age.Moreover, when it comes to Bitcoin ATMs worldwide, we see a stagnation in the last few months. This is the 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 critical information for out 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 approach.
The old generation is skeptical.That said, and as per InvestingHavens blockchain & crypto redirected here investing research, Bitcoin evolved already early this season into the leading indicator for the crypto market. We started writing about this already 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 market.
Nothing more, nothing less.Obviously, though this 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 prediction 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 year.
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Arguably, when the next strong phase of momentum in crypto land starts, Bitcoin will proceed to its bullish band. However, with insights laid out in this article we dont see Bitcoin going to its super bullish band though.Thats why we believe that it is quite realistic to anticipate $25,000 as a realistic Bitcoin price forecast for 2019, assuming that the crypto crash is over.
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