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This allows large investors to put 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, with so many Bitcoin ETF proposals submitted to the SEC this year we start seeing a trend that's somehow concerning for our Bitcoin price forecast. As said, 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.
All of these funds sought to utilize futures contracts to find exposure, with a number of planning to short Bitcoin. The ruler needed a hard-deadline to deny or approve each one these goods during the next month; their requests to list had been pending since December and January. Investors hopes to get a Bitcoin ETF now rest on just one fund from VanEck Associates Corp..
The ruler this month pushed back a ruling on that product until at least September and could finally undergo February to compose its own mind.What we see is an emphasis on non-physical Bitcoin ETFs. The ETFs that are submitted are primarily 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 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, however without accurate figures as thats only 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 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 past couple of months. This is the very first sign of stagnation. It suggests to us that the notion of using Bitcoin as a payment method is being challenged right now.
This, naturally, is crucial 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 possess the mandatory features of a payment method.
The old generation is skeptical.That stated, and according to InvestingHavens blockchain & crypto investing research, Bitcoin evolved early this year into the leading indicator for the crypto marketplace. We started writing about this in February, since the crypto crash was going on. Many crypto investors made a big mistake by focusing on the wrong indicators for the crypto market.
Nothing more, nothing less.Obviously, if that is accurate, 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 do 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 dropped into its support band, implying there was still plenty of downside potential ahead of the long term bull market would be over. This certainly is not the way 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 starts, Bitcoin will proceed into its bullish band. But with insights laid out in this article we dont find Bitcoin going into its super bullish band though.Thats why we think that it is quite realistic to expect $25,000 as a realistic Bitcoin price prediction for 2019, assuming Hw Trade the crypto crash is over.
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