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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 resulted primarily in subdued returns to Bitcoin going forward.Moreover, together with so many Bitcoin ETF proposals submitted to the SEC this season we begin seeing a trend that is somehow concerning to our Bitcoin cost forecast. According to a bodily Bitcoin ETF was rejected in April of the year. On August 22nd the SEC decided to reject 9 more Bitcoin ETFs.
Every one of these funds sought to utilize futures contracts to get exposure, with a number of planning to short Bitcoin. The regulator had a hard-deadline to deny or approve each one these products during the next month; their requests to record had been pending since December and January. Investors expects for 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 may ultimately take through February to make up its own mind.What we see is an emphasis on non-physical Bitcoin ETFs. The ETFs which are filed are primarily derivatives. They can go short, or are connected to Bitcoin futures.
Only physical Bitcoin ETFs are good for the Bitcoin market, derivatives bring a market to another state.On the flipside, however, institutional investing is most likely going to enter Bitcoin in 2019. Think about this Bakkt platform in addition to the Nasdaq offering cryptocurrency investing into institutions. Thats a positive.All in most we consider increasing derivatives in Bitcoins marketplace will put pressure on returns.
Bitcoin usageAs per the Bitcoin usage and adoption figures on Statista.com the ownership of Bitcoin is still quite low, slightly but not much higher than when we published 10 Investment Tips For Cryptocurrencies Investing 18 months ago.The 3 stats shown below, nevertheless without precise 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 obviously a phenomenon for the younger generation which likely crypto a product of the electronic age.Moreover, when it comes to Bitcoin ATMs globally, we see a stagnation in the past couple of months. This is the 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 crucial 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 have the mandatory features of a payment method.
The older generation is skeptical.That said, and according to InvestingHavens blockchain & crypto investing study, Bitcoin evolved already early this season into the leading indicator for the crypto market. 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, though that is accurate, it yields critical information for any crypto related investment, not only cryptocurrencies but also blockchain stocks.Our Bitcoin price prediction for 2019: $25,000With all check my reference 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 the 4 year graph 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 could be finished. 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. find more information
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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 all insights laid out in this article we dont find Bitcoin going into its super bullish band though.Thats why we believe that it is quite realistic to anticipate $25,000 as a realistic Bitcoin price prediction for 2019, assuming that the crypto crash is over.
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Bitcoin could nevertheless reach 50,000 USD in 2019 however, it has to clear a couple of important resistance levels. And really soon. We still maintain our (very) long term Bitcoin price prediction of USD 160,000 and consider that in 2019we may see Bitcoin Price reach 50,000 USD or cross over.