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This enables large investors to place strain 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, together with so many Bitcoin ETF suggestions submitted to the SEC this season we start seeing a trend that is somehow concerning for our Bitcoin price prediction. According to a bodily Bitcoin ETF was rejected in April of the year. On August 22nd the SEC made a decision to reject 9 more Bitcoin ETFs.
Every one of these funds sought to utilize futures contracts to get exposure, with several planning to short Bitcoin. The ruler had a hard-deadline to deny or approve each one of these products during the next month; their orders to list had been pending since December and January. Investors expects to get a Bitcoin ETF now rest on just one fund from VanEck Associates Corp..
The regulator that month pushed back a ruling on that product until at least September and could ultimately undergo February to make up its mind.What we see will be an emphasis on non-physical Bitcoin ETFs. The ETFs which are filed are primarily derivatives. They can go short, or are connected to Bitcoin futures.
Bitcoin usageAs per the Bitcoin usage and adoption statistics on Statista.com the ownership of Bitcoin is still quite 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 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 web 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, of course, is crucial information for outside Bitcoin price prediction 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 have the mandatory features of a payment method.
The old generation is skeptical.That stated, and according to InvestingHavens blockchain & crypto investing research, Bitcoin evolved 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 big error by focusing on the wrong indicators for the crypto market.
Nothing more, nothing less.Obviously, if this is accurate, it yields critical information for any crypto related investment, not only cryptocurrencies but also 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 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 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 period of momentum in crypto land starts, Bitcoin will move into its bullish band. However, with all insights laid out in this guide we dont find Bitcoin going to its super bullish band though.Thats why people believe it is very realistic to expect $25,000 as a realistic Bitcoin price forecast for 2019, assuming that the crypto crash is finished.
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