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This allows large investors to put strain on Bitcoins cost 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 year we start seeing a trend that's somehow concerning to our Bitcoin cost forecast. As said, a bodily Bitcoin ETF was rejected in April of this 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 ruler had a hard-deadline to deny or approve all these products over the next month; their requests to list had been pending since December and January. Investors expects to get a Bitcoin ETF now rest on just one fund from VanEck Associates Corp..
The ruler this month pushed back a ruling on that merchandise until at least September and could ultimately undergo February to make up its mind.What we see is an emphasis on non-physical Bitcoin ETFs. The ETFs that are filed are primarily derivatives. They can go short, or are connected to Bitcoin futures.
Bitcoin usageAs per the Bitcoin use and adoption statistics on Statista.com the ownership of Bitcoin is still very low, slightly but not much higher than when we published 10 Investment strategies For Cryptocurrencies Investing 18 months ago.The 3 stats shown below, however without precise statistics as thats only accessible 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 probably crypto a commodity of the electronic age.Moreover, when it comes to Bitcoin ATMs worldwide, we see a stagnation in the past couple of months. This is the very first sign of stagnation. It suggests to us that the this post notion of using Bitcoin as a payment procedure is being challenged right now.
This, naturally, is crucial information for outside 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 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 market.
Nothing more, nothing less.Obviously, though 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 article can we do a Bitcoin price forecast for 2019 Yes, is the answer, and also our annotated long term Bitcoin cost chart should help us with this.Below is your 4 year chart of Recommended Reading Bitcoin.
Note that Bitcoin never fell into its service band, implying there was plenty of downside potential ahead of the long term bull market could be over. This certainly is not the way crypto investors believed about it, on the contrary.Bitcoin is now trending in its own transition band, since May of this year.
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But when the next strong period of momentum in crypto land starts, Bitcoin will move to its bullish band. However, with insights laid out in this article we dont see Bitcoin going to its super bullish band though.Thats why people think that it is quite realistic to expect $25,000 as a realistic Bitcoin price forecast for 2019, assuming that the crypto crash is over.
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