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This enables large investors to place 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, together with many Bitcoin ETF suggestions submitted to the SEC this year we start seeing a trend that is somehow concerning for our Bitcoin cost prediction. As said, 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.
Every one these funds sought to use futures contracts to get exposure, with a number of 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 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 regulator this month pushed back a ruling on that merchandise until at least September and could finally take through February to make up its mind.What we see will be an emphasis on non-physical Bitcoin ETFs. The ETFs that are filed are primarily derivatives. They can go short, or are correlated to Bitcoin futures.
Bitcoin usageAs per the Bitcoin use 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, nevertheless 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 obviously a phenomenon for the younger generation which likely crypto a product of their 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 suggests to us that the idea of using Bitcoin as a payment procedure is being challenged right now.
This, naturally, is critical information for out Bitcoin price forecast 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 approach.
The old generation is skeptical.That said, and according to InvestingHavens blockchain & crypto investing study, Bitcoin evolved early this year into the leading indicator for the crypto market. We began writing about this already in February, as 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, though this is accurate, 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 forecast for 2019 Yes, is the answer, and also our annotated long term Bitcoin price chart find more information ought to help us with this.Below is the 4 year chart of Bitcoin.
Note that Bitcoin never dropped into its support band, implying there was still plenty of downside potential ahead of the long term bull market would be finished. 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 year.
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Arguably, when the next strong phase of momentum in crypto land begins, Bitcoin will move into its bullish band. However, with insights laid out in this article we dont see Bitcoin going to its super bullish band though.Thats why we think 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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