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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 stocks 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 begin seeing a trend that is somehow concerning to our Bitcoin price 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 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 goods 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 such merchandise until at least September and could ultimately 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 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, show 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 probably crypto a commodity of the electronic age.Moreover, when it comes to Bitcoin ATMs worldwide, 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 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 going to continue. Bitcoin does not possess the mandatory features of a payment approach.
The older generation is skeptical.That said, 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, though that is true, 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 guide can we perform a Bitcoin price forecast for 2019 Yes, is the answer, and also our annotated long term Bitcoin price chart ought to help us with this.Below is the 4 year chart of Bitcoin.
Note that Bitcoin never dropped into its service band, implying there was still plenty of downside potential before the long term bull market could be over. This certainly is not the way crypto investors felt about it, on the contrary.Bitcoin is now trending in its own 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 move to its bullish band. However, with insights laid out in this guide we dont find Bitcoin going into its super bullish band though.Thats why people think straight from the source 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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