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This enables large investors to place strain 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 season we begin seeing a trend that is somehow concerning to our Bitcoin cost forecast. As said, 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 utilize futures contracts to get exposure, with several planning to short Bitcoin. The ruler had a hard-deadline to deny or approve each one these products during the next month; their orders to record had been pending since December and January. Investors hopes to get a Bitcoin ETF now rest on just one fund from VanEck Associates Corp..
The ruler that month pushed back a ruling on that merchandise until at least September and may ultimately undergo February to compose its mind.What we see will be an emphasis on non-physical Bitcoin ETFs. The ETFs that are filed are mainly 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 very low, slightly but not much higher than when we published 10 Investment strategies For Cryptocurrencies Investing 18 months ago.The 3 stats shown below, however without precise statistics as thats only accessible for premium members, show that Bitcoin ownership was quite low in the U.S.
Our List Of Cryptocurrency 2018/2019 Statements
Adults planning on investing in Bitcoin is clearly a phenomenon for the younger generation which likely crypto a commodity of their electronic 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 indicates to us that the notion of using Bitcoin as a payment method is being challenged right now.
This, of course, is crucial information for out 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 likely going to continue. Bitcoin does not possess the mandatory features of a payment approach.
The old generation is skeptical.That said, and according to InvestingHavens blockchain & crypto investing study, Bitcoin evolved already early this season into the leading indicator for the crypto marketplace. We started writing about this 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, if this is true, 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 forecast 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 still plenty of downside potential ahead of the long term bull market would 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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Arguably, when the next strong period of momentum in crypto land begins, Bitcoin will move to its bullish band. However, with all insights laid out in this guide we dont find Bitcoin going into its super bullish band though.Thats why we think that it is quite realistic to anticipate $25,000 as a realistic Bitcoin price forecast for 2019, assuming that the crypto crash is finished.
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