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This enables large investors to put strain on Bitcoins price 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, together with so many Bitcoin ETF proposals submitted to the SEC this year we start seeing a trend that is somehow concerning to our Bitcoin price prediction. As said, 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 these funds sought to utilize futures contracts to find exposure, with several planning to brief 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 ruler that month pushed back a ruling on such product until at least September and may finally undergo February to compose its 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 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 wrote 10 Investment Tips For Cryptocurrencies Investing 18 months ago.The 3 stats shown below, nevertheless without precise statistics as thats only accessible 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 probably crypto a commodity of the digital 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 notion 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 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 method.
The old generation is skeptical.That said, and according to InvestingHavens blockchain & crypto investing research, Bitcoin evolved early this year 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 big error by focusing on the wrong indicators for the crypto market.
Nothing more, nothing less.Obviously, if this is accurate, 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 article can we perform a Bitcoin price forecast for 2019 Yes, is the answer, and also our annotated long term Bitcoin price chart ought to help us with this.Below is your 4 year chart of Bitcoin.
Note that Bitcoin never fell into its service band, implying resource there was still plenty of downside potential before the long term bull market could be finished. 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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Arguably, when the next strong phase of momentum in crypto land starts, Bitcoin will move to its bullish band. But with insights laid out in this article we dont see Bitcoin going into its super bullish band though.Thats why people believe that it is quite realistic to expect $25,000 as a realistic Bitcoin price forecast for 2019, assuming that the crypto crash is finished.
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