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This enables large investors to place pressure on Bitcoins price in a way not seen before. In other words, the introduction of Bitcoin futures on December 17th 2017 led largely in subdued returns to Bitcoin going forward.Moreover, together with many Bitcoin ETF suggestions submitted to the SEC this year we start seeing a trend that is somehow concerning to our Bitcoin cost prediction. According to a physical Bitcoin ETF was rejected in April of the year. On August 22nd the SEC made a decision to reject 9 more Bitcoin ETFs.
All of these funds sought to use futures contracts to get exposure, with several planning to short Bitcoin. The ruler had a hard-deadline to deny or approve all these products during the next month; their requests 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 could ultimately take through February to make up its own mind.What we see is an emphasis on non-physical Bitcoin ETFs. The ETFs which are filed are mainly 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 wrote 10 Investment strategies For Cryptocurrencies Investing 18 months ago.The 3 stats shown below, nevertheless without precise statistics as thats only available for premium members, reveal that Bitcoin ownership was very 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 product of their digital age.Moreover, when it comes to Bitcoin ATMs worldwide, we see a stagnation in the past couple of months. This is the very 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 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 stated, and as per InvestingHavens blockchain & crypto investing research, Bitcoin evolved early this hop over to these guys year into the leading indicator for the crypto market. 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, though that is accurate, 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 article can we perform a Bitcoin price prediction 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 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 believed about it, on the contrary.Bitcoin is now trending in its transition band, since May of this past year.
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But when the next strong phase of momentum in crypto land begins, Bitcoin will proceed into its bullish band. However, with all insights laid out in this article we dont see Bitcoin going to its super bullish band though.Thats why we believe it is very realistic to expect $25,000 as a realistic Bitcoin price prediction for 2019, assuming that the crypto crash is over.
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