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This enables large investors to put pressure 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 many Bitcoin ETF proposals submitted to the SEC this season we start seeing a trend that is somehow concerning to our Bitcoin price prediction. As said, a bodily Bitcoin ETF was rejected in April of the year. On August 22nd the SEC decided to reject 9 more Bitcoin ETFs.
All these funds sought to utilize futures contracts to get exposure, with a number of planning to brief Bitcoin. The regulator had a hard-deadline to deny or approve all 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 such merchandise until at least September and could finally undergo February to compose its mind.What we see is 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.
Only physical Bitcoin ETFs are good for the Bitcoin market, derivatives bring a market to another state.On the flipside, but institutional investing is likely going to enter Bitcoin in 2019. Think about this Bakkt platform as well as the Nasdaq offering cryptocurrency investing into institutions. Thats a positive.All in all we consider increasing derivatives in Bitcoins marketplace will place pressure on returns.
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 strategies For Cryptocurrencies Investing 18 months ago.The 3 stats shown below, nevertheless without precise statistics 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 obviously a phenomenon for the younger generation which probably crypto a commodity of their 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 indicates to us that the idea of using Bitcoin as a payment procedure is being challenged right now.
This, of course, is critical information for outside Bitcoin price prediction 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 likely going to continue. Bitcoin does not have the mandatory features of a payment method.
The older generation is skeptical.That said, and as per InvestingHavens blockchain & crypto investing research, Bitcoin evolved early this year into the leading indicator for visit our website the crypto market. We started writing about this already in February, since 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, if this is true, 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 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 the 4 year chart of Bitcoin.
Note that Bitcoin never fell into its service 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 own transition band, since May of this year.
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Arguably, when the next strong phase of momentum in crypto land begins, Bitcoin will proceed to its bullish band. However, with insights laid out in this guide we dont see Bitcoin going to its super bullish band though.Thats why we think it is very realistic to anticipate $25,000 as a realistic Bitcoin price forecast for 2019, assuming the crypto crash is over.
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Bitcoin could nevertheless attain 50,000 USD in 2019 however, it has to clear a couple of important resistance levels. More about the author And really soon. We still maintain our (very) long term Bitcoin price prediction of USD 160,000 and consider that in 2019, we may visit Bitcoin Price reach 50,000 USD or cross over.