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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 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 start seeing a trend that's somehow concerning to our Bitcoin price 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 these funds sought to use futures contracts to find exposure, with several planning to short Bitcoin. The regulator had a hard-deadline to deny or approve each one these goods during 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 this month pushed back a ruling on such merchandise until at least September and may finally undergo February to make up its own mind.What we see is an emphasis on non-physical Bitcoin ETFs. The ETFs that are submitted are primarily derivatives. They can go short, or are connected 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, however without precise figures as thats only accessible for premium members, their website 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 digital age.Moreover, when it comes to Bitcoin ATMs globally, we see a stagnation in the last few months. This is the first sign of stagnation. It suggests to us that the notion of using Bitcoin as a payment method is being challenged right now.
This, naturally, is critical 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 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 according to InvestingHavens blockchain & crypto investing study, Bitcoin evolved already get more early this season into the leading indicator for the crypto market. We began writing about this in February, since the crypto crash was going on. Many crypto investors made a large mistake by focusing on the wrong indicators for the crypto marketplace.
Nothing more, nothing less.Obviously, if that is true, it yields crucial information for any crypto related investment, not only cryptocurrencies but also blockchain stocks.Our Bitcoin price forecast 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 cost chart should help us with this.Below is the 4 year chart of Bitcoin.
Note that Bitcoin never dropped into its support band, implying there was still plenty of downside potential before the long term bull market could 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 year.
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But when the next strong period of momentum in crypto land starts, Bitcoin will move into its bullish band. But with insights laid out in this guide we dont see Bitcoin going to its super bullish band though.Thats why people think it is very realistic to expect $25,000 as a realistic Bitcoin price forecast for 2019, assuming the crypto crash is finished.
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