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This enables large investors to place 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, together with many Bitcoin ETF suggestions submitted to the SEC this year we start seeing a trend that's 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.
All of these funds sought to use futures contracts to get exposure, with several planning to brief Bitcoin. The regulator needed a hard-deadline to deny or approve each one these goods over 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 such product until at least September and could ultimately take through February to compose its mind.What we see is an emphasis on non-physical Bitcoin ETFs. The ETFs that are filed are mainly derivatives. They can go short, or are connected to Bitcoin futures.
Only physical Bitcoin ETFs are great for the Bitcoin marketplace, derivatives bring a marketplace to another state.On the flipside, but institutional investing is most likely going to enter Bitcoin in 2019. Think of the Bakkt platform as well as the Nasdaq offering cryptocurrency investing to institutions. Thats a positive.All in most 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 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, nevertheless without accurate figures as thats only accessible for premium members, reveal 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 product of the digital age.Moreover, when it comes to Bitcoin ATMs globally, we see a stagnation in the last few months. This is the very first sign of stagnation. It suggests to us that the notion of using Bitcoin as a payment method is being challenged right now.
This, of course, is crucial information for out Bitcoin price prediction for 2019. Bitcoin as click to read 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 possess the mandatory features of a payment approach.
The older generation is skeptical.That stated, and as per InvestingHavens blockchain & crypto investing study, Bitcoin evolved early this year 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 accurate, it yields crucial information for any crypto related investment, not only cryptocurrencies but also blockchain stocks.Our Bitcoin price prediction for 2019: $25,000With all 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 your 4 year chart of Bitcoin.
Note that Bitcoin never fell into its support band, implying there was still plenty of downside potential ahead of the long term bull market could 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 year.
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But when the next strong go to my blog period of momentum in Click This Link crypto land starts, Bitcoin will proceed to its bullish band. But with all insights laid out in this article we dont find 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 prediction for 2019, assuming that the crypto crash is over.
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Bitcoin could still reach 50,000 USD in 2019 however, it has to clear a few important resistance levels. And really soon. We maintain our (very) long term Bitcoin price forecast of USD 160,000 and consider that in 2019, we may visit Bitcoin Price reach 50,000 USD or cross above.