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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 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 year we start seeing a trend that is somehow concerning for our Bitcoin cost prediction. 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.
Every one these funds sought to use 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 over 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 make up its mind.What we see will be 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 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 the Bakkt platform in addition to the Nasdaq offering cryptocurrency investing to institutions. Thats a positive.All in all we believe increasing derivatives in Bitcoins marketplace will place pressure on returns.
Bitcoin usageAs per the Bitcoin usage and adoption figures 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 statistics as thats only available 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 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 method 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 already and other derivative products coming online in 2019 and beyond.Bitcoin adoption as a medium for transaction is Visit This Link 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 already early this season into the leading indicator for the crypto market. We began writing about this already in February, as 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, though 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 should help us with this.Below is the 4 year graph of Bitcoin.
Note that Bitcoin never fell into its service band, implying there was still plenty of downside potential ahead of the long term bull market would be finished. This certainly is a knockout post 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 momentum in crypto land begins, Bitcoin will move to 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 believe that it is very realistic to expect $25,000 as a realistic Bitcoin price forecast for 2019, assuming the crypto crash is over.
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Bitcoin could still attain 50,000 USD in 2019 however, it has to clear a couple of important resistance levels. And very soon. We still maintain our (very) More Info long term Bitcoin price forecast of USD 160,000 and consider that in 2019, we might visit Bitcoin Price hit 50,000 USD or cross over.