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This enables large investors to put strain 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, together with so many Bitcoin ETF proposals submitted to the SEC this year we begin seeing a trend that is somehow concerning to our Bitcoin price forecast. According to a physical Bitcoin ETF was rejected in April of this year. On August 22nd the SEC made a decision to reject 9 more Bitcoin ETFs.
All these funds sought to use futures contracts to get exposure, with several planning to brief Bitcoin. The ruler needed a hard-deadline to deny or approve each one of these goods during the next month; their requests to list 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 could ultimately take through February to compose its own mind.What we see will be an emphasis on non-physical Bitcoin ETFs. The ETFs which are filed are mainly derivatives. They can go short, or are correlated to Bitcoin futures.
Bitcoin usageAs per the Bitcoin use and adoption statistics 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 statistics as thats only available 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 commodity of the 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 indicates to us that the notion of using Bitcoin as a payment procedure 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 and other derivative products coming online in 2019 and beyond.Bitcoin adoption as a medium for transaction is not going to continue. Bitcoin does not possess the mandatory features of a payment approach.
The older generation is skeptical.That stated, and as per InvestingHavens blockchain & crypto investing study, Bitcoin evolved already 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 large mistake by focusing on the wrong indicators for the crypto marketplace.
Nothing more, nothing less.Obviously, if that is accurate, it yields crucial information for any crypto related investment, not only cryptocurrencies but additionally blockchain stocks.Our Bitcoin price prediction for 2019: $25,000With the insights laid out in this article can we do a Bitcoin price forecast for 2019 Yes, is the answer, and our annotated long term Bitcoin price chart ought to help us with this.Below is your 4 year graph of Bitcoin.
Note that Bitcoin never fell into its support band, implying there was still plenty of downside potential ahead of the long term bull market could be over. This certainly is not the way crypto investors believed 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 period of momentum in crypto land begins, Bitcoin will move into its bullish band. However, with all insights laid out in this guide we dont see Bitcoin going to its super bullish band though.Thats why we think that it is quite realistic to anticipate $25,000 as a realistic Bitcoin price forecast for 2019, assuming that the crypto crash is over.
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