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This allows 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 many Bitcoin ETF proposals submitted to the SEC this year we begin seeing a trend that is somehow concerning to our Bitcoin price 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.
All of these funds sought to use futures contracts to get exposure, with several planning to short Bitcoin. The regulator had a hard-deadline to deny or approve each one of these goods during 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 this month pushed back a ruling on such product until at least September and may ultimately undergo February to make up its own 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 figures on Statista.com the ownership of Bitcoin is still quite low, slightly but not much higher than when we published 10 Investment Tips For Cryptocurrencies Investing 18 months ago.The 3 stats shown below, 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 obviously a phenomenon for the younger generation which likely crypto a commodity of the digital age.Moreover, when it comes to Bitcoin ATMs globally, we see a stagnation in the past couple of months. This is the first sign of stagnation. It suggests to us that the idea of using Bitcoin as a payment method is being challenged right now.
This, of course, is crucial information for outside Bitcoin price forecast content 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 older generation is skeptical.That stated, and as per InvestingHavens blockchain & crypto investing study, Bitcoin evolved already early this season 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 big mistake by focusing on the wrong indicators for the crypto marketplace.
Nothing more, nothing less.Obviously, if that is true, it yields critical information for any crypto related investment, not only cryptocurrencies but also blockchain stocks.Our Bitcoin price forecast for 2019: $25,000With all the insights laid out in this guide can we perform a Bitcoin price prediction for 2019 Yes, is the answer, and our annotated long term Bitcoin cost chart ought to help us with this.Below is the 4 year graph of Bitcoin.
Note that Bitcoin never dropped into its support band, implying there was plenty of downside potential before the long term bull market could be finished. This certainly is not how crypto investors believed about it, on the contrary.Bitcoin is now trending in its transition band, since May of this year.
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But when the next strong period of momentum in crypto land begins, Bitcoin will proceed to its bullish band. However, with all insights laid out in this guide we dont see Bitcoin going to its super bullish band though.Thats why people believe 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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