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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 led largely in subdued returns to Bitcoin going forward.Moreover, together with many Bitcoin ETF proposals submitted to the SEC this year we start seeing a trend that's somehow concerning for our Bitcoin price forecast. As said, a physical Bitcoin ETF was rejected in April of this year. On August 22nd the SEC decided to reject 9 more Bitcoin ETFs.
All of these funds sought to utilize futures contracts to find exposure, with several planning to short Bitcoin. The ruler had a hard-deadline to deny or approve each one of 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 that product until at least September and may finally 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 mainly derivatives. They can go short, or are correlated to Bitcoin futures.
Only physical Bitcoin ETFs are good for the Bitcoin marketplace, derivatives bring a marketplace to another state.On the flipside, however, institutional investing is most likely going to enter Bitcoin in 2019. Think of this Bakkt platform as well as the Nasdaq offering cryptocurrency investing to institutions. Thats a positive.All in most we believe increasing derivatives in Bitcoins marketplace will put 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 published 10 Investment strategies For Cryptocurrencies Investing 18 months ago.The 3 stats shown below, however without accurate 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 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 idea of using Bitcoin as a payment procedure is being challenged right now.
This, naturally, is critical information for out 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 going to continue. Bitcoin does not possess the mandatory features of a payment method.
The check my site old generation is skeptical.That said, and according to InvestingHavens blockchain & crypto investing study, Bitcoin evolved early this season into the leading indicator for the crypto marketplace. 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 this is true, it yields critical information for any crypto related investment, not only cryptocurrencies but additionally blockchain stocks.Our Bitcoin price forecast for 2019: $25,000With the insights laid out in this article can we perform a Bitcoin price prediction for 2019 Yes, is the answer, and our annotated long term Bitcoin price chart ought to help us with this.Below is the 4 year chart of Bitcoin.
Note that Bitcoin never fell into its support band, implying there was plenty of downside potential before the long term bull market would be over. 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 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. But with insights laid out in this article we dont find Bitcoin going into its super bullish band though.Thats why we think 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 attain 50,000 USD in 2019 but it's to clear a few important resistance levels. And very soon. We 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 over.