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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 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 is somehow concerning to our Bitcoin cost forecast. As said, a physical Bitcoin ETF was rejected in April of the year. On August 22nd the SEC decided to reject 9 more Bitcoin ETFs.
Every one these funds sought to utilize futures contracts to get exposure, with a number of planning to brief Bitcoin. The ruler had a hard-deadline to deny or approve all these products over the next month; their requests to record 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 that month pushed back a ruling on that merchandise until at least September and could finally undergo February to compose its mind.What we see will be an emphasis on non-physical Bitcoin ETFs. The ETFs that are filed are primarily derivatives. They can go short, or are connected to Bitcoin futures.
Only physical Bitcoin ETFs are great for the Bitcoin market, derivatives bring a marketplace to another state.On the flipside, however, institutional investing is likely going to enter Bitcoin in 2019. Think of this Bakkt platform as well as 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 figures on Statista.com the ownership of Bitcoin is still very low, slightly but not much higher than when we wrote 10 Investment strategies For Cryptocurrencies Investing 18 months ago.The 3 stats shown below, nevertheless without accurate statistics as thats only available 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 likely crypto a commodity of their 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 indicates to us that the notion of using Bitcoin as a payment procedure is being challenged right now.
This, naturally, is crucial information for out Bitcoin go to the website 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 possess the mandatory features of a payment method.
The older generation is skeptical.That stated, and according to InvestingHavens blockchain & crypto investing research, Bitcoin evolved early this year into the leading indicator for the crypto marketplace. We began writing about this in February, since the crypto crash was going on. Many crypto investors made a large error by focusing on the wrong indicators for the crypto marketplace.
Nothing more, nothing less.Obviously, if that is true, 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 do a Bitcoin price prediction for 2019 Yes, is the answer, and our annotated long term Bitcoin cost chart ought to help us with this.Below is the 4 year graph 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 over. 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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Arguably, when the next strong period of momentum in crypto land starts, Bitcoin will proceed into its bullish band. But with all insights laid out in this article we dont see Bitcoin going to its super bullish band though.Thats why we believe it is very realistic to expect $25,000 as a realistic Bitcoin price forecast for 2019, assuming that the crypto crash is over.
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Bitcoin could nevertheless attain 50,000 USD in 2019 but it has to clear a few important resistance levels. And very soon. We 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.