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This allows large investors to put strain 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, together with many Bitcoin ETF suggestions submitted to the SEC this season we start seeing a trend that is somehow concerning for our Bitcoin cost prediction. According to a physical Bitcoin ETF was rejected in April of the year. On August 22nd the SEC decided to reject 9 more Bitcoin ETFs.
All these funds sought to utilize futures contracts to get exposure, with a number of planning to short Bitcoin. The ruler had a hard-deadline to deny or approve all these products over the next month; their orders to record had been pending since December and January. Investors expects for a Bitcoin ETF now rest on just one fund from VanEck Associates Corp..
The regulator that month pushed back a ruling on such product until at least September and could finally take through February to make up its own mind.What we see is an emphasis on non-physical Bitcoin ETFs. The ETFs which are submitted 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 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 obviously a phenomenon for the younger generation which probably crypto a product of the electronic age.Moreover, when it comes to Bitcoin ATMs globally, we see a stagnation in the last few months. This is the very first sign of stagnation. It suggests to us that the notion of using Bitcoin as a payment method is being challenged right now.
This, of course, is critical information for outside 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 method.
The older generation is skeptical.That said, and according to InvestingHavens blockchain & crypto investing study, Bitcoin evolved early this year into the leading indicator for the crypto market. We began writing about this already in February, as the crypto crash was going on. Many crypto investors made a big mistake by focusing on the wrong indicators for the crypto marketplace.
Nothing more, nothing less.Obviously, though this is true, it yields critical information for any crypto related investment, not only cryptocurrencies but additionally blockchain stocks.Our Bitcoin price forecast for 2019: $25,000With the insights laid out in this article can we perform a Bitcoin price prediction for 2019 Yes, is the answer, and our annotated long term Bitcoin price chart should help us with this.Below is your 4 year graph of Bitcoin.
Note that Bitcoin never dropped into its support band, implying there was plenty of downside potential ahead of the long term bull market would be over. This certainly is not how crypto investors felt about it, on the contrary.Bitcoin is now trending in its own 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 move to its bullish band. But with insights laid out in this guide we dont find Bitcoin going to its super bullish band though.Thats why we believe that it is very realistic to anticipate $25,000 as a realistic Bitcoin price forecast for 2019, assuming the crypto crash is finished.
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