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This allows large investors to place strain on Bitcoins price 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 so many Bitcoin ETF suggestions submitted to the SEC this year we start seeing a trend that is somehow concerning to our Bitcoin price forecast. According to a bodily Bitcoin ETF was rejected in April of this year. On August 22nd the SEC made a decision to reject 9 more Bitcoin ETFs.
Every one of these funds sought to use futures contracts to find exposure, with several planning to brief Bitcoin. The regulator needed a hard-deadline to deny or approve each one of these goods over the next month; their orders 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 regulator that month pushed back a ruling on such product until at least September and may ultimately undergo February to make up its mind.What we see is an emphasis on non-physical Bitcoin ETFs. The ETFs that are filed 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 Tips For Cryptocurrencies Investing 18 months ago.The 3 stats shown below, however without precise figures as thats only accessible for premium members, reveal that Bitcoin ownership was quite low in the U.S.
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Adults go now 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 very first sign of stagnation. It suggests to us that the idea of using Bitcoin as a payment method is being challenged right now.
This, naturally, is critical information for out Bitcoin price prediction 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 approach.
The old 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 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 market.
Nothing more, nothing less.Obviously, though this is true, it yields crucial 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 also 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 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 period of momentum in crypto land begins, Bitcoin will proceed into its bullish band. However, with all insights laid out in this article we dont find Bitcoin going into its super bullish band though.Thats why people believe that it is very realistic to expect $25,000 as a realistic Bitcoin price prediction for 2019, assuming the crypto crash is over.
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