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This enables large investors to put pressure 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 season we begin seeing a trend that is somehow concerning for our Bitcoin cost forecast. According to a bodily 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 get exposure, with several planning to brief Bitcoin. The ruler needed a hard-deadline to deny or approve all of these products during the next month; their orders to record had been pending since December and January. Investors expects 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 may ultimately undergo February to compose its mind.What we see is 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 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 stats shown below, check my source however without precise 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 the 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 indicates to us that the idea of using Bitcoin as a payment click now procedure 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 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 approach.
The older generation is skeptical.That said, and according to InvestingHavens blockchain & crypto investing research, Bitcoin evolved already early this year 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 mistake by focusing on the wrong indicators for the crypto marketplace.
Nothing more, nothing less.Obviously, if that is accurate, it yields critical information for any crypto related investment, not only cryptocurrencies but additionally blockchain stocks.Our Bitcoin price prediction for 2019: $25,000With all the insights laid out in this article can we perform a Bitcoin price prediction for 2019 Yes, is the answer, and also 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 fell into its service band, implying there was plenty of downside potential before the long term bull market would be finished. This certainly is not how crypto investors believed 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 begins, Bitcoin will proceed into its bullish band. But with insights laid out in this article we dont see Bitcoin going to its super bullish band though.Thats why we believe 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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