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This allows 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 resulted primarily in subdued returns to Bitcoin going forward.Moreover, with so many Bitcoin ETF proposals submitted to the SEC this year we begin seeing a trend that's somehow concerning to our Bitcoin cost prediction. As said, 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 of these funds sought to utilize futures contracts to find exposure, with several planning to brief Bitcoin. The ruler needed a hard-deadline to deny or approve all of these products during the next month; their requests to record had been pending since December and January. Investors hopes 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 may ultimately undergo February to compose its own mind.What we see is an emphasis on non-physical Bitcoin ETFs. The ETFs which are submitted 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 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 place pressure on returns.
Bitcoin usageAs per the Bitcoin usage and adoption statistics on Statista.com the ownership of Bitcoin is still quite low, slightly but not much higher than when we published 10 Investment Tips For Cryptocurrencies Investing 18 months ago.The 3 stats shown below, however without precise statistics as thats only available for premium members, show that Bitcoin ownership was quite 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 commodity of their digital age.Moreover, when it comes to Bitcoin ATMs globally, we see a stagnation in the past couple of months. This is the very first sign of stagnation. It suggests 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 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 approach.
The older generation is skeptical.That said, and as per InvestingHavens blockchain & crypto investing research, Bitcoin evolved already early this season into the leading indicator for the crypto market. We began writing about this already in February, since the crypto crash was going on. Many crypto investors made a big error by focusing on the wrong indicators for the crypto market.
Nothing more, nothing less.Obviously, if that is true, it yields critical information for any crypto related investment, not only cryptocurrencies but additionally blockchain stocks.Our Bitcoin price prediction for 2019: $25,000With the insights laid out in this article can we do a Bitcoin price forecast for 2019 Yes, is the answer, and also our annotated long term Bitcoin price chart ought to help us with this.Below is the 4 year chart of Bitcoin. pop over here
Note that Bitcoin never fell 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 how crypto investors felt about it, on the contrary.Bitcoin is now trending in its transition band, since May of this past year.
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Arguably, when the next strong period 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 to its super bullish band though.Thats why we believe it is very realistic to anticipate $25,000 as a realistic Bitcoin price forecast for 2019, assuming the crypto crash is over.
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Bitcoin could nevertheless reach 50,000 USD in 2019 but it has to clear a couple of important resistance levels. And very Resources soon. We still maintain our (very) long term Bitcoin price prediction of USD 160,000 and consider that in 2019, we might visit Bitcoin Price hit 50,000 USD or cross above.