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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 futures 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 year we start seeing a trend that is somehow concerning for our Bitcoin price forecast. As said, a physical Bitcoin ETF was rejected in April of the year. On August 22nd the SEC decided to reject 9 more Bitcoin ETFs.
All these funds sought to utilize futures contracts to find exposure, with several planning to brief Bitcoin. The ruler 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 for 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 finally take through February to compose its mind.What we see is an emphasis on non-physical Bitcoin ETFs. The ETFs which 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 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, nevertheless without precise figures as thats only accessible for premium members, show that Bitcoin ownership was quite 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 the digital 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 suggests to us that the notion of using Bitcoin as a payment procedure is being challenged right now.
This, of course, is critical information for outside Bitcoin price forecast for 2019. Bitcoin as an investment is maturing, with futures being introduced 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 older generation is skeptical.That said, and as per 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, since the crypto crash was going on. Many crypto investors made a large error by focusing on the wrong indicators for the crypto market.
Nothing more, nothing less.Obviously, if that is true, it yields crucial 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 guide can we perform a Bitcoin price forecast for 2019 Yes, is the answer, and our annotated long term Bitcoin price chart should help us with this.Below is your 4 year chart of Bitcoin.
Note that Bitcoin never fell into its service Bonuses band, implying there was still plenty of downside potential before the long term bull market could 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 phase of momentum in crypto land begins, Bitcoin will proceed into its bullish band. But with insights laid out in this guide we dont see Bitcoin going into its super bullish band though.Thats why we think it is quite realistic to expect $25,000 as a realistic Bitcoin price prediction for 2019, assuming the crypto crash is over.
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