Should i buy bitcoin now january 2019

The President of the Securities and Exchange Commission (SEC) Jay Clayton stated at the end of last November, “I want to see better market surveillance and custody for digital currencies before being comfortable with a crypto ETF”. In the year that should have been the institutionalization of investments in Bitcoins, up to 9 proposals for the launch of ETF’s have been rejected as regulatory authorities have deemed bitcoin related futures and ETF’s as assets which do not offer sufficient guarantees against fraudulent manipulation of the markets. In order for crypto markets to improve and recover from last year’s losses security measures require significant upgrades. In case of theft, the unwritten rule is to replace what has been stolen in customers’ accounts, but crypto market doesn’t offer such a kind of security measure hindering market progress significantly. The people in charge of the exchanges have understood correctly the necessity to guarantee the investments of their clients and as there is no urgency to approve products that does not meet said requirement, bitcoin ETF’s and future contracts are unlikely to hit market anytime soon which hints at range bound price action across the month of January 2019.