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This allows large investors to place strain on Bitcoins cost 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, with many Bitcoin ETF proposals submitted to the SEC this season we begin seeing a trend that is somehow concerning for our Bitcoin cost prediction. According to a physical 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 these funds sought to utilize futures contracts to find exposure, with a number of planning to brief Bitcoin. The ruler needed a hard-deadline to deny or approve each one of these products during the next month; their orders to record had been pending since December and January. Investors expects to get 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 finally undergo February to make up its own mind.What we see is an emphasis on non-physical Bitcoin ETFs. The ETFs that are submitted 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 the Bakkt platform in addition to the Nasdaq offering cryptocurrency investing into institutions. Thats a positive.All in all we consider increasing derivatives in Bitcoins marketplace will put 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, reveal 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 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 procedure is being challenged right now.
This, naturally, is critical information for out 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 continue reading this mandatory features of a payment method.
The old generation is skeptical.That said, and as per InvestingHavens blockchain & crypto investing study, Bitcoin evolved early this year into the leading indicator for the crypto market. We started writing about this in February, as the crypto crash was going on. Many crypto investors made a big mistake by focusing on the wrong indicators for the crypto market.
Nothing more, nothing less.Obviously, if this is true, 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 the insights laid out in this article can we do a Bitcoin price prediction for 2019 Yes, is the answer, and also 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 dropped into its support band, implying there was still 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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But when the next strong phase of look here momentum in crypto land begins, Bitcoin will proceed to its bullish band. However, with all insights laid out in this guide we dont find Bitcoin going into its super bullish band though.Thats why we believe 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 still attain 50,000 USD in 2019 however, it's to clear a few important resistance levels. And really soon. We still maintain our (very) long term Bitcoin price prediction of USD 160,000 and believe that in 2019we may see Bitcoin Price hit 50,000 USD or cross above.