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This enables large investors to put pressure on Bitcoins cost 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, with so many Bitcoin ETF proposals submitted to the SEC this year we begin seeing a trend that is 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 of these funds sought to use futures contracts to find exposure, with several planning to short Bitcoin. The ruler had a hard-deadline to deny or approve all these goods over the next month; their requests 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 merchandise until at least September and could ultimately take through February to make up its mind.What we see is an emphasis on non-physical Bitcoin ETFs. The ETFs that 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, however without accurate figures as thats only available for premium members, reveal that Bitcoin ownership was quite low in the U.S.
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Adults planning on investing in Bitcoin is clearly a phenomenon for the younger generation which likely crypto a commodity of the electronic age.Moreover, when it comes to Bitcoin ATMs globally, we see a stagnation in the last few months. This is the very first sign of stagnation. It indicates to us that the notion of using Bitcoin as a payment method is being challenged right now.
This, of course, is crucial information for out Bitcoin price prediction discover here 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 have the mandatory features of a payment method.
The old 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 began writing about this already in February, since 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 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 perform a Bitcoin price forecast for 2019 Yes, is the answer, and also our annotated long term Bitcoin price chart should help us with this.Below is the 4 year graph of Bitcoin.
Note try these out that Bitcoin never dropped into its support band, implying there was plenty of downside potential ahead of the long term bull market would 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 past year.
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But when the next strong period of momentum in crypto land starts, Bitcoin will move into its bullish band. However, with insights laid out in this guide we dont see Bitcoin going into its super bullish band though.Thats why people believe that it is very realistic to anticipate $25,000 as a realistic Bitcoin price forecast for 2019, assuming the crypto crash is over.
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