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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 stocks on December 17th 2017 led largely in subdued returns to Bitcoin going forward.Moreover, with so many Bitcoin ETF proposals submitted to the SEC this season we begin seeing a trend that's somehow concerning for our Bitcoin price prediction. 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.
Every one 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 products during the next month; their requests to list had been pending since December and January. Investors expects to get a Bitcoin ETF now rest on just one fund from VanEck Associates Corp..
The ruler that month pushed back a ruling on such merchandise until at least September and could finally take through February to make up 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 usage and adoption statistics on Statista.com the ownership of Bitcoin is still quite 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 accurate figures as thats only accessible for premium members, show 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 probably crypto a commodity of their digital 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 crucial 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 going to continue. Bitcoin does not possess the mandatory features of a payment method.
The old generation is skeptical.That said, 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, as 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, though that is true, it yields critical information for any crypto related investment, not only cryptocurrencies but additionally blockchain stocks.Our Bitcoin price forecast for 2019: $25,000With all the insights laid out in this guide can we do a Bitcoin price prediction for 2019 Yes, is the answer, and our annotated long term Bitcoin cost chart ought to help us with this.Below is your 4 year chart of Bitcoin.
Note that Bitcoin never dropped into its support band, implying there was plenty of downside potential ahead of the long term bull market would be finished. This certainly is not how crypto investors believed about it, on the contrary.Bitcoin is now trending in its transition band, since May of this year.
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But when the next strong period of momentum in crypto land starts, Bitcoin will move to its bullish band. However, with insights laid out in this guide we dont find Bitcoin going to its super bullish band though.Thats why we believe that it is quite realistic to anticipate $25,000 as a realistic Bitcoin price forecast for 2019, assuming the crypto crash is finished.
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