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This enables large investors to place strain on Bitcoins cost in a way not seen before. In other words, the introduction of Bitcoin stocks on December 17th 2017 led largely in subdued returns to Bitcoin going forward.Moreover, with so many Bitcoin ETF proposals submitted to the SEC this year we begin seeing a trend that's somehow concerning to our Bitcoin price forecast. According to a bodily Bitcoin ETF was rejected in April of this year. On August 22nd the SEC decided to reject 9 more Bitcoin ETFs.
Every one of these funds sought to use futures contracts to find exposure, with several planning to short Bitcoin. The regulator needed a hard-deadline to deny or approve all these goods 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 regulator that month pushed back a ruling on such product until at least September and could ultimately take through February to compose 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 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 precise figures as thats only available for premium members, show 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 likely crypto a commodity of their digital age.Moreover, when it comes to Bitcoin ATMs globally, we see a stagnation in the past couple of months. This is the very first sign of stagnation. It indicates to us that the idea 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 not likely going to continue. Bitcoin does not have the mandatory features of a payment method.
The old generation is skeptical.That stated, and as per InvestingHavens blockchain & crypto investing research, Bitcoin these details evolved early this year into the leading indicator for the crypto market. We began writing about this in February, as the crypto crash was going on. Many crypto investors made a large mistake by focusing on the wrong indicators for the crypto market.
Nothing more, nothing less.Obviously, if that is true, it yields crucial 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 guide can we do a Bitcoin price forecast for 2019 Yes, is the answer, and our annotated long term Bitcoin cost chart should help us with this.Below is your 4 year chart of Bitcoin.
Note that Bitcoin never dropped into its service band, implying there was still plenty of downside potential ahead of 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 transition band, since May of this year.
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Arguably, when the next strong period of momentum in crypto land begins, Bitcoin will proceed to its bullish band. But with all insights laid out in this guide we dont see Bitcoin going to its super bullish band though.Thats why we think that it is very realistic to anticipate $25,000 as a realistic Bitcoin price prediction for 2019, assuming that the crypto crash is finished.
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