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This allows large investors to put 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, with so many Bitcoin ETF proposals submitted to the SEC this season we start seeing a trend that is somehow concerning for our Bitcoin cost prediction. As said, a bodily 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 get exposure, with several planning to short Bitcoin. The ruler had a hard-deadline to deny or approve all these products over the next month; their orders to list 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 this month pushed back a ruling on that product until at least September and could ultimately 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 connected to Bitcoin futures.
Only physical Bitcoin ETFs are good 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 about the Bakkt platform in addition to the Nasdaq offering cryptocurrency investing to institutions. Thats a positive.All in most we believe increasing derivatives in Bitcoins market will place pressure on returns.
Bitcoin usageAs per the Bitcoin usage 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, however without precise figures as thats only accessible 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 clearly a phenomenon for the younger generation which likely crypto a product of the digital age.Moreover, when it comes to Bitcoin ATMs worldwide, we see a stagnation in the last few months. This is the first sign of stagnation. It suggests to us that the idea of using Bitcoin as a payment method is being challenged right now.
This, of course, is crucial information for outside 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 going to continue. Bitcoin does not have the mandatory features of a payment approach.
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 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, if this is true, it yields crucial information for any crypto related investment, not only cryptocurrencies but additionally blockchain stocks.Our Bitcoin price forecast for 2019: $25,000With the Web Site insights laid out in this article can we do a Bitcoin price forecast for 2019 Yes, is the answer, and our annotated long term Bitcoin price chart should help us with this.Below is your 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 would be finished. This certainly is not the way crypto investors felt about it, on the pop over to this site contrary.Bitcoin is now trending in its transition band, since May of this year.
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But when the next strong period of momentum in crypto land starts, Bitcoin will move to its bullish band. But with insights laid out in this article we dont see Bitcoin going into 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 finished.
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Bitcoin could still reach 50,000 USD in 2019 however, it's to clear a couple of important resistance levels. And really soon. We still maintain our (very) long term Bitcoin price forecast of USD 160,000 and believe that in 2019, we might see Bitcoin Price hit 50,000 USD or cross above.