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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 resulted primarily in subdued returns to Bitcoin going forward.Moreover, with so many Bitcoin ETF suggestions submitted to the SEC this year we begin seeing a trend that's 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 made a decision to reject 9 more Bitcoin ETFs.
Every one these funds sought to utilize futures contracts to find exposure, with a number of planning to brief Bitcoin. The regulator needed a hard-deadline to deny or approve each one of these products over the next month; their requests 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 regulator that month pushed back a ruling on that product until at least September and may finally undergo February to make up its own mind.What we see will be 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 figures on Statista.com the ownership of Bitcoin is still very low, slightly but not much higher than when we wrote 10 Investment strategies For Cryptocurrencies Investing 18 months ago.The 3 stats shown below, however without accurate figures as thats only accessible 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 product of their electronic age.Moreover, when it comes to Bitcoin ATMs globally, we see a stagnation in the past couple of months. This is the first sign of stagnation. It indicates to us that the notion of using Bitcoin as a payment method is being challenged right now.
This, naturally, is critical 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 view it not going to continue. Bitcoin does not have the mandatory features of a payment method.
The older generation is skeptical.That stated, and according to InvestingHavens blockchain & crypto investing study, Bitcoin evolved early this season into the leading indicator for the crypto market. We began writing about this already in February, since the crypto crash was going on. Many crypto investors made a large error 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 additionally blockchain stocks.Our Bitcoin price prediction for 2019: $25,000With the insights laid out in this article can we do a Bitcoin price prediction for 2019 Yes, is the answer, and our annotated long term Bitcoin price chart ought to help us with this.Below is your 4 year graph of Bitcoin.
Note that Bitcoin never fell into its service band, implying there was still plenty of downside potential ahead of review the long term bull market would 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 past year.
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But when the next strong phase of momentum in crypto land starts, Bitcoin will move to its bullish band. But with all insights laid out in this guide we dont find Bitcoin going into its super bullish band though.Thats why we think it is very realistic to anticipate $25,000 as a realistic Bitcoin price forecast for 2019, assuming the crypto crash is over.
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