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This enables large investors to place pressure on Bitcoins cost 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 proposals submitted to the SEC this year we start seeing a trend that's somehow concerning to our Bitcoin cost forecast. As said, a physical Bitcoin ETF was rejected in April of the year. On August 22nd the SEC made a decision to reject 9 more Bitcoin ETFs.
Every one of 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 these products over 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 this month pushed back a ruling on such product until at least September and could ultimately take through February to make up its own mind.What we see will be an emphasis on non-physical Bitcoin ETFs. The ETFs that are submitted are mainly derivatives. They can go short, or are connected to Bitcoin futures.
Bitcoin usageAs per the Bitcoin use 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 Tips For Cryptocurrencies Investing 18 months ago.The 3 stats shown below, however without precise statistics 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 commodity of the digital age.Moreover, when it comes to Bitcoin ATMs worldwide, we see a stagnation in the last few months. This is the first sign of stagnation. It suggests to us that the idea of using Bitcoin as a payment method is being challenged right now.
This, of course, 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 have the mandatory features of a payment method.
The old generation is skeptical.That stated, and according to InvestingHavens blockchain & crypto investing study, Bitcoin evolved already early this year into the leading indicator for the crypto market. We started writing about this already in February, since the crypto crash was going on. Many crypto investors made a content big error by focusing on the wrong indicators for the crypto market.
Nothing more, nothing less.Obviously, though that is true, it yields critical information for any crypto related investment, not only cryptocurrencies but also blockchain stocks.Our Bitcoin price forecast for 2019: $25,000With all the insights laid out in this guide can we do a Bitcoin price forecast for 2019 Yes, is the answer, and also our annotated long term Bitcoin cost 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 before the long term bull market could be over. This certainly is not how crypto investors felt about it, on the contrary.Bitcoin is now trending in its own transition band, since May of this past year.
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But when the next strong phase of momentum in crypto land starts, Bitcoin will move into its bullish band. However, with all insights laid out in this guide we dont find Bitcoin going to its super bullish band though.Thats why people think that it is quite realistic to expect $25,000 as a realistic Bitcoin price forecast for 2019, assuming the crypto crash is over.
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