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This allows large investors to place pressure on Bitcoins cost 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, with many Bitcoin ETF suggestions submitted to the SEC this season we start seeing a trend that is somehow concerning to our Bitcoin cost forecast. According to a physical Bitcoin ETF was rejected in April of this year. On August 22nd the SEC made a decision to reject 9 more Bitcoin ETFs.
Every one 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 of these products over the next month; their requests 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 such product until at least September and may finally undergo February to compose its 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 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 figures as thats only accessible 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 commodity of the digital age.Moreover, when it comes to Bitcoin ATMs globally, we see a stagnation in the last few months. This is the first sign of stagnation. It suggests to us that the notion of using Bitcoin as a payment method is being challenged right Continued now.
This, of course, is crucial information for out 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 likely going to continue. Bitcoin does not have the mandatory features of a payment approach.
The older 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 began 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 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 our annotated long term Bitcoin price chart ought to help us with this.Below is the 4 year graph of Bitcoin.
Note that Bitcoin never dropped into its support band, implying there was still plenty of downside potential ahead of the long term bull market could be over. This certainly is not the way 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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Arguably, when the next strong phase of momentum in crypto land begins, Bitcoin will proceed to its bullish band. But with all insights laid out in this article we dont see Bitcoin going into its super bullish band though.Thats why people believe that 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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