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This enables large investors to put strain 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 so many Bitcoin ETF proposals submitted to the SEC this season we start seeing a trend that's somehow concerning for our Bitcoin cost forecast. According to a bodily Bitcoin ETF was rejected in April of the year. On August 22nd the SEC decided to reject 9 more Bitcoin ETFs.
All of these funds sought to utilize futures contracts to get exposure, with a number of planning to short Bitcoin. The ruler had a hard-deadline to deny or approve each one of these goods during the next month; their requests 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 ruler that month pushed back a ruling on that product until at least September and may finally take through February to compose its mind.What we see is an emphasis on non-physical Bitcoin ETFs. The ETFs that are submitted are mainly 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 wrote 10 Investment strategies For Cryptocurrencies Investing 18 months ago.The 3 stats shown below, nevertheless without precise figures as thats only check out here accessible for premium members, reveal 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 their electronic age.Moreover, when it comes to Bitcoin ATMs worldwide, we see a stagnation in the past couple of months. This is the first sign of stagnation. It indicates to us that the notion of using Bitcoin as a payment method is being challenged right now.
This, of course, is critical 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 possess the mandatory features of a payment approach.
The old generation is skeptical.That stated, and according to InvestingHavens blockchain & crypto investing study, Bitcoin evolved already early this season into the leading indicator for the crypto marketplace. We began writing about this in February, since the crypto crash was going on. Many crypto investors made a big 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 forecast for 2019: $25,000With the insights laid out in this article can we do a Bitcoin price prediction for 2019 Yes, is the answer, and our annotated long term Bitcoin cost chart should help us with this.Below is the 4 year graph of Bitcoin.
Note that Bitcoin never fell into its support band, implying there was plenty of downside potential before the long term bull market would be over. This certainly read this post here is not how 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 phase of momentum in crypto land begins, Bitcoin will proceed into its bullish band. However, with all insights laid out in this guide we dont find Bitcoin going to its super bullish band though.Thats why we think that it is quite realistic to expect $25,000 as a realistic Bitcoin price forecast for 2019, assuming the crypto crash is finished.
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