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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 led largely in subdued returns to Bitcoin going forward.Moreover, together with so many Bitcoin ETF proposals submitted to the SEC this season we start seeing a trend that's somehow concerning to our Bitcoin price forecast. 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 utilize futures contracts to get exposure, with several planning to short Bitcoin. The ruler needed a hard-deadline to deny or approve each one these products 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 take through February to compose its 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.
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 of this Bakkt platform in addition to the Nasdaq offering cryptocurrency investing into institutions. Thats a positive.All in all we consider increasing derivatives in Bitcoins market will place pressure on returns.
Bitcoin usageAs per the Bitcoin use and adoption statistics on Statista.com the ownership of Bitcoin is still very low, slightly but not much higher than when we wrote 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 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 very 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 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 approach.
The old generation anonymous is skeptical.That said, and according to InvestingHavens blockchain & crypto investing study, Bitcoin evolved early this season into the leading indicator for the crypto market. We started writing about this already 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 market.
Nothing more, nothing less.Obviously, if this is accurate, it yields crucial 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 article can we do a Bitcoin price forecast for 2019 Yes, is the answer, and 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 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 begins, Bitcoin will proceed into its bullish band. However, with all insights laid out in this article we dont see Bitcoin going to its super bullish band though.Thats why we believe that it is very realistic to expect $25,000 as a realistic Bitcoin price prediction for 2019, assuming the crypto crash is over.
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Bitcoin could nevertheless attain 50,000 USD you could check here in 2019 but it has to clear a few important resistance levels. And very soon. We still maintain our (very) long term Bitcoin price forecast of USD 160,000 and believe that in 2019, we may see Bitcoin Price reach 50,000 USD or cross above.