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This allows large investors to put strain 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, with so many Bitcoin ETF proposals submitted to the SEC this season we begin seeing a trend that is somehow concerning for our Bitcoin cost prediction. According to a bodily 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 use futures contracts to find exposure, with a number of planning to short Bitcoin. The regulator needed a hard-deadline to deny or approve each one these goods over the next month; their orders to record 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 regulator this month pushed back a ruling on that product until at least September and could ultimately undergo February to compose its own mind.What we see is an emphasis on non-physical Bitcoin ETFs. The ETFs that are filed are primarily 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 wrote 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 planning on investing in Bitcoin is clearly a phenomenon for the younger generation which probably crypto a commodity of the electronic age.Moreover, when it comes to Bitcoin ATMs worldwide, 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 procedure is being challenged right now.
This, of course, is critical information for out Bitcoin price prediction 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 older generation is skeptical.That said, and as per go to website InvestingHavens blockchain & crypto investing study, Bitcoin evolved early this year into the leading indicator for the crypto market. We started writing about this in February, as the crypto crash was going on. Many crypto investors made a large error by focusing on the wrong indicators for the crypto market.
Nothing more, nothing less.Obviously, though 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 all the insights laid out in this article can we do a Bitcoin price prediction for 2019 Yes, is the answer, and also our annotated long term Bitcoin price chart should help us with this.Below is the 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 the way crypto investors felt about it, on the contrary.Bitcoin is now trending in its transition band, since May of this past year.
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But when the next strong phase of momentum in crypto land begins, Bitcoin will proceed to its bullish band. But with all insights laid out in this guide we dont see Bitcoin going to its super bullish band though.Thats why people believe it is quite realistic to anticipate $25,000 as a realistic Bitcoin price prediction for 2019, assuming that the crypto crash is finished.
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