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This allows large investors to put strain on Bitcoins price 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, together with many Bitcoin ETF proposals submitted to the SEC this season we start seeing a trend that is somehow concerning for our Bitcoin price 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 short Bitcoin. The ruler had a hard-deadline to deny or approve each one of these goods over 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 ruler that 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 which are filed are mainly derivatives. They can go short, or are correlated to Bitcoin futures.
Only physical Bitcoin ETFs are great for the Bitcoin market, derivatives bring a market to another state.On the flipside, however, institutional investing is most 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 most 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, however without accurate statistics 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 clearly a phenomenon for the younger generation which likely crypto a commodity 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 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 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 mandatory features of a payment approach.
The older generation is skeptical.That said, and as per InvestingHavens blockchain & crypto investing study, Bitcoin evolved already early this season 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 big error by focusing on the wrong indicators for the crypto market.
Nothing more, nothing less.Obviously, though this is accurate, it yields crucial information for any crypto related investment, not only cryptocurrencies but also blockchain stocks.Our Bitcoin price prediction for 2019: $25,000With the insights laid out in this article can we perform a Bitcoin price forecast for 2019 Yes, is the answer, and also our annotated basics long term Bitcoin cost chart should help us with this.Below is the 4 year graph 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 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 past year.
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Arguably, when the next strong phase of momentum in crypto land begins, Bitcoin will move to its bullish band. But with all insights laid out in this guide we dont find Bitcoin going to its super bullish band though.Thats why people believe it is very realistic to expect $25,000 as a realistic Bitcoin price forecast for 2019, assuming the crypto crash is finished.
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Bitcoin could still reach 50,000 USD in 2019 however, it has 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 2019we may see Bitcoin Price hit 50,000 USD or cross above.