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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 stocks on December 17th 2017 resulted primarily in subdued returns to Bitcoin going forward.Moreover, together with so many Bitcoin ETF proposals submitted to the SEC this season we start seeing a trend that's somehow concerning to our Bitcoin cost forecast. 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 use futures contracts to find exposure, with several planning to short Bitcoin. The ruler needed a hard-deadline to deny or approve all these products over the next month; their orders 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 ruler this month pushed back a ruling on that merchandise until at least September and may ultimately undergo February to compose its own mind.What we see will be an emphasis on non-physical Bitcoin ETFs. The ETFs that are submitted are primarily 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 very low, slightly but not much higher than when we wrote 10 Investment strategies For Cryptocurrencies Investing 18 months ago.The 3 their explanation stats shown below, however without accurate 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 obviously a phenomenon for the younger generation which probably crypto a commodity of their electronic age.Moreover, when it comes to Bitcoin ATMs worldwide, we see a stagnation in the last few months. This is the very 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 crucial information for out Bitcoin price prediction for 2019. Bitcoin as an investment is maturing, with futures being introduced already and other derivative products coming online in here 2019 and beyond.Bitcoin adoption as a medium for transaction is not going to continue. Bitcoin does not have the mandatory features of a payment method.
The old generation is skeptical.That said, and as per InvestingHavens blockchain & crypto investing research, Bitcoin evolved already early this season into the leading indicator for the crypto marketplace. We started writing about this already in February, as the crypto crash was going on. Many crypto investors made a large error by focusing on the wrong indicators for the crypto marketplace.
Nothing more, nothing less.Obviously, if this is true, it yields critical information for any crypto related investment, not only cryptocurrencies but also blockchain stocks.Our Bitcoin price prediction for 2019: $25,000With the insights laid out in this guide can we do a Bitcoin price prediction for 2019 Yes, is the answer, and our annotated long term Bitcoin cost chart ought to help us with this.Below is your 4 year graph 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 would be finished. 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 starts, Bitcoin will move into its bullish band. However, with insights laid out in this article we dont find Bitcoin going to its super bullish band though.Thats why we think 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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