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This allows large investors to place pressure on Bitcoins price in a way not seen before. In other words, the introduction of Bitcoin stocks on December 17th 2017 led largely 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 to our Bitcoin cost forecast. As said, a bodily Bitcoin ETF was rejected in April of this year. On August 22nd the SEC decided to reject 9 more Bitcoin ETFs.
Every one of these funds sought to utilize futures contracts to get exposure, with several planning to brief Bitcoin. The regulator needed a hard-deadline to deny or approve all of these goods during the next month; their requests 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 this month pushed back a ruling on that product until at least September and may finally take through February to compose its own 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 figures 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 precise statistics as thats only available 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 likely crypto a commodity of the electronic age.Moreover, when it comes to Bitcoin ATMs globally, we see a stagnation in the past couple of months. This is the very 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 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 going to continue. Bitcoin does not possess the mandatory features of a payment approach.
The old generation is skeptical.That stated, and as per InvestingHavens blockchain & crypto investing study, Bitcoin evolved 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 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 the insights laid out in this guide 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 the 4 year chart of Bitcoin.
Note that Bitcoin never fell into its service 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 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 period of momentum in crypto land starts, Bitcoin will move to its bullish band. But 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 very realistic to expect $25,000 as a realistic Bitcoin price forecast for 2019, assuming the crypto crash is over.
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