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This allows large investors to place pressure on Bitcoins cost in a way not seen before. In other words, the introduction of Bitcoin futures on December 17th 2017 led largely in subdued returns to Bitcoin going forward.Moreover, with so many Bitcoin ETF proposals submitted to the SEC this season we start seeing a trend that's somehow concerning for our Bitcoin cost prediction. As said, a physical Bitcoin ETF was rejected in April of this year. On August 22nd the SEC made a decision to reject 9 more Bitcoin ETFs.
All these funds sought to use futures contracts to get exposure, with a number of planning to short Bitcoin. The ruler had a hard-deadline to deny or approve all these goods during the next month; their orders to record 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 that product until at least September and may ultimately undergo February to make up its mind.What we see will be an emphasis on non-physical Bitcoin ETFs. The ETFs that are submitted are mainly 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 quite 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 precise figures as thats only accessible for premium members, show that Bitcoin ownership link 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 their electronic 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 notion of using Bitcoin as a payment procedure is being challenged right now.
This, of course, 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 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 early this season into the leading indicator for the crypto marketplace. We started writing about this already in February, since the crypto crash was going on. Many crypto investors made a large mistake by focusing on the wrong indicators for the crypto market.
Nothing more, nothing less.Obviously, if that is accurate, it yields critical information for any crypto related investment, not only cryptocurrencies but also blockchain stocks.Our Bitcoin price prediction for 2019: $25,000With all the insights laid out in this here are the findings article can we do a Bitcoin price prediction for 2019 Yes, is the answer, and our annotated long term Bitcoin price chart ought to help us with this.Below is your 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 would be over. This certainly is not the way crypto investors felt about it, on the contrary.Bitcoin is now trending in its transition band, since May of this year.
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Arguably, when the next strong period of momentum in crypto land begins, Bitcoin will move to its bullish band. But with insights laid out in this guide we dont see Bitcoin going to its super bullish band though.Thats why people think that it is quite realistic to anticipate $25,000 as a realistic Bitcoin price prediction for 2019, assuming that the crypto crash is over.
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