Bitcoin Forum

What do you guys think will happen with prices when the popular stocking trading app Robinhood starts trading bitcoin and a few other coins in February ?

Any new exchange with an established user base starting to trade cryptos will bring new people to market, that in turn will push prices up, the only real question is if it will be enough to notice a difference in prices or not, I would guess probably not at first.

Nothing is going to happen, this app is for newbie and uneducated and on the top of that, it is only available to the US citizens (+another country, I don't remember which one).
So if you think it will raise the Bitcoin's value then stop right now.

It does not change the price of bitcoin. Bitcoin users in the US, very little. The price of bitcoin can only be changed by agreement between the miners and programmers to increase scalability. I am sure that it will happen. Bitcoin can not always remain unchanged. Only the use of bitcoin in trade may raise the price of coins to heaven.

I appreciate the diversity with these answers.

I don't expect it greatly increase adoption. Anyone inclined to trade bitcoin has already gotten involved. What this is likely to do is drive people already trading bitcoin to their app for free trades and to sap business away from other exchanges like Coinbase and Poloniex, et al. I expect the increased adoption to be minimal. Also, I expect it to be completely ignored by serious traders, because you're getting what you pay for. Free trades means days-long settlement times, and any day trading crypto is going to find that unacceptable. Serious traders will remain with GDAX and other major exchanges because they can't afford to lose time waiting or funds to be unlocked or coins to be available for trading due to long settlement delays. Overall, this is an overhyped event, but then again, that feels appropriate for Bitcoin.

This is interesting, but I do not think it will affect Bitcoin too much, Bitcoin price may increase but not too high because now there is bad news around many countries start to prohibit crypto.

They are currently showing prices for bitcoin etc. Anyone knows what is the source of this price feed?

IIRC Robinhood will be using Existing Exchanges to facilitate Crypto Buying and selling, not their own Exchange. So I believe it will show the best price available. But one thing to note is a lot of new money will be entering the markets. Hope to see a bullish run. Having Stocks and Bitcoin in one platform seems great. Could be a new trend to follow.

Yes, integrating of stock and crypto market is a very great concept and can increase the money coming in this investment very rapidly. This will make many traders to earn more and give more people opportunities to trade on this unpredicted crypto and the stock market.

This is a very great project and can create a trading revolution in the future. I would surely like to use this platform to earn high profits from it.